You have undoubtedly read enough bond arti cles to know there are two ways to make money in bonds: You can take either interest rate risk or credit risk. Certainly the euro zone problems and the Fed's easy monetary policies have kept interest rates artifi cially low-limbo low. So low that se niors who live off their fixed income find themselves whittling away their principal or feel forced to take risks they'd otherwise never consider. In my last several columns I've said it's more profitable to take credit risk. I'm sticking with that advice. Chief financial officers of our most pristine and creditworthy companies have used April and May as an extraordinary win dow of opportunity to issue massive amounts of new, low-yielding debt.
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