It's a meager year for bond returns compared to what may be in the offing in other asset classes.

It's still important to be across the asset classes. A bit of everything goes a long way.

We're not at the top. With the Fed still moving to 5.50 in our view, maybe at least 5.25 to 5.40 10-year yields would not be out of the question.

There's expectation that rates will go higher. Why buy on par when the price will be less than par next week.

The statement will not tell the final story. I believe the Fed finale really is data dependent.

Europe is our preferred region.