Bonds have outperformed stocks thus far in 2016 with the Barclay's U.S. Aggregate Bond Index up 2 percent versus a 1.5 percent rise in the S&P 500. Christine Hurtsellers, fixed income chief investment officer at Voya (VOYA) , does not expect bonds to back down in the second half. 'The bond market did a much better job last year pricing in lower revenue growth and plus you have the Federal Reserve trying to raise rates,' said Hurtsellers. 'That doesn't necessarily mean that interest rates are going to go up much in the U.S. so I don't expect a huge selloff in bonds.' Hurtsellers expects weak domestic growth and heavy foreign buying to push the yield on the benchmark 10-year Treasury to around 1.5 percent in the coming months from its current 1.85 percent level. TheStreet's Gregg Greenberg reports from New York. 

More from Video

Nvidia is Building the Future. How Did They Get There?

Nvidia is Building the Future. How Did They Get There?

Why End of 2019 Could Loom as Scary For the Economy

Why End of 2019 Could Loom as Scary For the Economy

Striking Options: Holiday Volatility, WTI Crude Oil, & Equities

Striking Options: Holiday Volatility, WTI Crude Oil, & Equities

Jim Cramer Prefers Secular Growers to Cyclical Growers

Jim Cramer Prefers Secular Growers to Cyclical Growers

Jim Cramer Says There's A 'Two-Prong' Market

Jim Cramer Says There's A 'Two-Prong' Market