It’s lunch hour at an elementary school.
Several kids meet beside a field while two captains pick teams for a quick soccer game.
They pick the hotshot players first, leaving the weaker kids to sweat. Nobody wants to be the last one standing.
If these kids represented an investment portfolio, bonds would be the heavy kid with two left feet. There’s a reason plenty of investors don’t want them on their team.
The 10-year yield on U.S. Treasury bonds is about 2.90 percent per year. That’s the highest yield since December 2013.
But compared to yesteryear, bonds are still gasping for air. They haven’t had such low yields since 1956.
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