It’s been a tough year to be a bond investor. Well, technically, it’s been a tough year for every investor, but the interest rate environment of 2022 has been especially bad for bond investors. Traditional portfolio management operates under the assumption of stocks and bonds being anti-correlated with each other, meaning that when one moves up the other goes down and vice versa. It also operates under the model of stocks being volatile while bonds are safe. 2022 has blown up both rules. Year to date, the S&P 500 has gone down by about 15% for a variety of reasons […]
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