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Use select charts from the Guide to the Markets to engage in portfolio discussions.

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Fixed income investing

Today, fixed income investors face the impact of eventual rising rates, yet still need bonds for diversification. Investing across core, core complement and extended fixed income sectors may help generate income, reduce volatility and hedge interest rate risk.

Economic Expansions and Recessions
Rates are near historic lows but eventual increases will present challenges
 
  • Following a 30-year bull market in bonds, interest rates are near all-time lows. After adjusting for inflation, real yields on some fixed income investments are close to zero, which limits income generation.
  • Yields have been volatile as economic growth has stabilized and the Federal Reserve has signaled that it will reduce its efforts to keep long-term rates low going forward.
  • Further economic improvement, and eventual tightening, as well as a pick-up in inflation, could increase upward pressure on rates.
Discussion Slides
Interest Rates and Inflation
Correlations and Volatility
Historical Returns by Holding Period

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