[TIPS are a] terrific long-term hedge against inflation, ... are not a good hedge against short-term interest rate volatility.

It appears that U.S. inflation and interest rates are becoming once again the center of attention.

A good bond fund, like a high yield fund, has less credit risk and less interest rate risks -- and a good manager will add value,

It isn't a market that has matured, but there is more interest. Given where inflation has been - I've seen it up 10 to 12 percent - this is a market that should do much better.

The fundamentals are still there. We have low inflation, low interest rates and a worldwide demand for American products I don't think you have a problem as far as the market going up.

With higher gasoline prices putting a dent in consumer spending and underlying inflation looking to be contained, further interest rate hikes seem unnecessary.