Interest rate markets are proven to be very difficult to predict, and as such, fixed income allocations ought to be treated similarly to other aspects of your asset allocation: with diversification. In our latest article, the Portfolio Construction and Strategy Team team makes the case for intermediate-term traditional bonds as a portion of a diversified fixed income asset allocation.

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Portfolio Spectrum Performance (9/2008 – 3/2009)

Source: Janus Henderson Analytics, Morningstar. S&P 500 Index, Agg = Bloomberg Barclays U.S. Aggregate Bond Index, High Yield = ICE BofA Merrill Lynch U.S. High Yield Index.

Portfolio Spectrum Performance, Calendar Year 2015

Source: Janus Henderson Analytics, Morningstar. S&P 500Index, Agg = Bloomberg Barclays U.S. Aggregate Bond Index, HIgh Yield = ICE BofA ML U.S. High Yield Index.