The vanishing yield cushion

The collapse in global bond yields has delivered large windfall capital gains however it has come at the cost of a vanishing yield cushion.

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The hidden equity beta in many fixed income funds

The managed fund research company Morningstar recently announced they are splitting their ‘intermediate term bond’ category into two new categories – ‘intermediate core bond’ and ‘intermediate core plus’ bond.

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Bonds don’t always diversify equity risk

With global bond yields back near the low end of recent ranges, it’s an opportune time to revisit a theme that’s relevant to portfolio construction today – the bond vs. equity correlation.

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