Central bank policy has suppressed bond yields in many countries, but the U.S. credit market still looks attractive - albeit with some problems, experts told CNBC.
U.S. credit is the most attractive investment opportunity in the credit world at the moment, according to Mark Kiesel, CIO of global credit at PIMCO because, whereas many central banks around the world have decided to buy up corporate bonds, the Federal Reserve has not.
"The ECB has been buying European corporate bonds; you're going to see the Bank of England start to buy corporate bonds in the U.K.," he told CNBC's Squawk Box.
"In the U.S., the Fed is not buying corporate bonds. They're less attractive than they were at the beginning of the year, but we still think a modest overweight to credit makes sense."