Divergent Interest Rates: A Golden Opportunity

US interest rates look set to rise in 2015, and that’s unsettling for some fixed-income investors. But here’s the good news: US bonds aren’t the only game in town.

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China’s Economy Gliding into “Long” Landing

By Hayden Briscoe (pictured), Shamaila Khan and Jenny Zeng China’s economy isn’t headed for a hard or soft landing—instead, it’s more likely to be a long landing. That’s our perspective, based on our team’s recent visit to China to get an up-close look at the economic landscape.

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Pick and Mix: Fresh Ideas for Diversifying Bond Exposure

Policy backdrops and growth trajectories around the world are showing increasing signs of divergence. Yet many bond investors continue to congregate in a few selected pockets of the fixed income universe. In our view, it’s a perfect time to reconsider diversification tactics.

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The Right Fit: Global Bonds and DC Plans

At a time when US defined contribution plans are seeking to control risk and enhance returns, hedged global bonds can improve outcomes for participants and sponsors. But how do plans incorporate global bonds in core menus and target-date funds?

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Tinkering with the Core Bond Recipe

This is the time of year when, in almost every American household, the tinkerer in the family eyes the recipe box. Certain venerable traditions will make it to the Thanksgiving table intact. A cousin or an in-law is sure to bring an entirely new dish. And some traditional plates could use some freshening up. That’s [...]

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Global Bonds Beg the Currency Question

With the US dollar poised to rise, there’s never been a better time to reposition into global bonds as your core mandate. But when you do, it’s critical to fully hedge that global portfolio against currency risk.

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The Core of the Modern Bond Strategy: Go Global

“Keep Calm and Carry On” reads a popular World War II–era British motivational poster. We think the first half of the slogan is good advice for bond investors in today’s uncertain markets, but we’d substitute the second with “Go Global.”

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What to Think About in a Bond-Market Reboot

US interest rates are likely to head up gradually over the next several years, now that the long tailwind from a three-decade-long rate decline has subsided. With bonds still an important part of many portfolios, what should investors be thinking about?

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Seven Lessons Every Fixed-Income Investor Should Learn from 2013

After more than two decades of a fixed-income bull market, 2013 was not a great year for the bond market. Rates bottomed out, many mutual funds had negative returns and bond mutual funds experienced a record $80 billion in redemptions as investors hit the panic button. But it would be foolhardy to assume that 2014 [...]

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Concerned About Rising Rates? Add Ballast by Going Global

A US-only bond investor is affected by one business cycle, one yield curve and a single monetary policy. As long as rates were falling, that seemed like a good thing. Not so these days.

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