The second half of this year should be better for bonds than the "miserable" first half, said Jack Malvey, a fixed-income strategist at Lehman Brothers, on "Morning Call."
"Collectively, investors had half a percent return," Malvey said about the first half of 2007. He added, current levels of bond risk will continue until at least September or October.
"We've been priced to perfection. We're moving priced to reality," Malvey said. "Certainly, this has some momentum and it's not over, and probably will finish sometime short of the middle of the third quarter."
Art Steinmetz, senior vice president at Oppenheimer and manager of the Oppenheimer International Bond Fund suggested, "Buy bonds where interest rates are high and going down. Sell when low and going up."
One area of investment where interest rates are decreasing is Brazil, Steinmetz cautioned.