Billionaire investor Bill Gross says the Fed easing up in fighting inflation could fuel a rally in government bonds

• Government bonds may rally if the Federal Reserve eases up on interest-rate hikes, Bill Gross said.
• US Treasuries are "still overvalued but may rally with future Fed ease," the elite investor said.
• Bond prices have cratered over the past year, fueling the collapse of Silicon Valley Bank.

Government bonds may look like a dicey investment for now, but could soon rally if the Federal Reserve eases up on its interest-rate hikes, according to billionaire investor Bill Gross.