Bonds: Using the Full Toolkit

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.