Research Summary

  • Asset Allocation

Bonds: Using the Full Toolkit

Chief Investment Officer, Bernstein Global Wealth Management
Chief Investment Officer and Head—AllianceBernstein Fixed Income
March 12, 2013

Investors own bonds for three key reasons—risk mitigation, stability and income—and for the last 30 years, a core investment-grade bond portfolio could satisfy all of them.

But a three-decade bull market for bonds has now ended, as Bernstein Chief Investment Officer Seth Masters and AllianceBernstein Head of Fixed Income Douglas Peebles explain in the enclosed paper, “Bonds: Using the Full Toolkit.”

Core bonds are still an excellent way to mitigate stock-market risk, which is all that many investors will require. But those with a greater need for stability or income may want to supplement their core bonds with other asset types.

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