Surging inflation and corresponding interest-rate increases have left many fixed-income portfolios in shambles this year. Core bond funds, typically the bedrock of a multiasset portfolio, are down 15% to 20%.
“It’s very clear that the rate environment in the next 10 years won’t look like the last 10,” says Leland Clemons, founder of ETF issuer BondBloxx Investment Management.
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A lot of investors are abandoning the battered fixed-income market. But that may be shortsighted.
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