Why Bonds Haven’t Blown Up
Updated: 2011-04-27 02:45:47
I strongly advocated re-allocating away from fixed income into stocks last August (dividend stocks yielding 4% or more seemed a far better risk-reward trade than bonds). Bonds have underperformed but the much-advertised fixed income Armageddon never occurred. Here’s way.
Overall fixed-income issuance is down by nearly a trillion dollars from the 2006 peak, because the decline [...]