With tight spreads and a steepening yield curve, we see the most value in lower-beta spread products and high-quality securitized assets.

Cash has a place in portfolios, but bonds are a better choice for locking in yields, boosting return potential and providing diversification benefits.

A modest allocation to a bond fund that invests across many sectors and isn’t tied to traditional bonds may help reduce risk and boost return potential.

While recent cracks in consumer spending bear monitoring, consumers (and the fixed income sectors they help propel) are still well positioned.

Bond investing isn’t baseball—a swing and miss can lose money. It’s the difference between consistently good, not occasionally great, performance.

Whatever the exact cause of recent volatility, the more significant point is that it was an opportunity to add credit risk amid a positive outlook.

The wealth effect will continue to support consumer spending, even as slowing wage gains and high prices weigh on low-income consumers.

Securitized credit isn’t complicated. It’s an investment involving predictable consumer behaviors that have fueled economic growth for generations.