Viewpoints Seeking Harmony in Short‑Term Markets Recent volatility in short-term markets will likely, over time, be accompanied by more attractive income opportunities for cash allocations.
In music, two voices raised in harmony can be sublime. In investing, two factors working in harmony can drive results and structural total returns.However, many investors observing bond markets in the first quarter of 2022 found themselves questioning the traditional “duet” of capital appreciation plus carry/income to produce total returns. Negative total returns in short-term bonds – along with uncertainty producing volatility in typically stable short-term rates indices (see Figure 1) – have been a dissonant experience. To Read the Full Article Log In Or Register
Viewpoints A disciplined approach to fixed income investing in the current environment can lead to compelling long-term returns.
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