Global bond yields will start to stabilize despite a selloff that has sent yields soaring in recent sessions, a bond expert said Tuesday.
The benchmark U.S. 10-year Treasury note yield hit a six-month high of 2.36 percent on Tuesday before reversing. Sovereign yields across Europe have broadly moved higher in recent weeks.
Despite those moves, the bond selloff's "worst phase" has likely ended and yields will show less volatility moving forward, said Scott Mather, chief investment officer of U.S. core strategies at Pimco.
"Undoubtedly, low global bond yields are here to stay," Mather said in a CNBC "Closing Bell" interview.