With the FED signaling that they will be offloading bonds in as a QT strategy, does my 401K investment make sense?

It is my understanding that the Feds strategy of QT would contribute to even less capital flowing into the stock market, however, I am not sure about the fundamentals behind the pricing of bonds.

My 401k is currently split between the following bonds. Would I see a loss if I kept my allocations the same through a recession?

Vanguard Retirement Savings Trust II
PIMCO Total Return Collective Trust Class II
Vanguard Institutional Total Bond Market Index Trust