This is what Bill sees when he says 6.5 in 5 years.
We will probably hit is sooner than 5 years but not before we get some buying opportunities on TLT.
Added for reference
PIMCO'S GROSS SEES END TO BONDS' BULL MARKET In his latest "Secular Forum" discussion, PIMCO's Bill Gross says the benchmark 10-year Treasury yield could head as high as 6.5% within the next five years. It's a far cry from the 5.5% he had previously envisioned.