The suggestion that the transition zone of Earth's mantle (410-670 km in depth) is enriched in water is of great possible significance to the geodynamics and geochemistry of Earth's interior, as well as for the role of the mantle in the global water cycle. Huang et al. compare the effect of water on electrical conductivities of transition-zone phases to electromagnetic and magnetotelluric soundings of the mantle beneath the North Pacific and conclude that the transition zone contains between 1,000 and 2,000 p.p.m. of water, which is considerably more than the 50-200 p.p.m. present in the upper mantle. This conclusion is predicated on the assumption that the transition zone is relatively oxidized, but in fact fairly reduced conditions are more likely. Here I show that if the transition zone is reduced, high conductivities can be explained without the requirement for large enrichments of water.