Warren Pierson on MoneyLife with Chuck Jaffe: 'Pay attention to the yields'

Warren Pierson, CFA, recently talked with Chuck Jaffe about the current bond market environment noting investors should pay attention to the opportunities bond yields may provide and focus on investment grade, higher quality bonds (or mutual funds with that focus) for their fixed income allocations amidst the ongoing difficult market.

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Fixed income is generally considered to be a more conservative investment than stocks, but bonds and other fixed income investments still carry a variety of risk such as interest rate risk, regulatory risk, credit risk, inflation risk, call risk, default risk, political risk, tax policy risk and liquidity risk. In a rising interest rate environment, the value of fixed-income securities generally decline and conversely, in a falling interest rate environment, the value of fixed income securities generally increase. Municipal securities investments are not appropriate for all investors, especially those taxed at lower rates. Ratings are measured on a scale that ranges from AAA or Aaa (highest) to D or C (lowest). Investment grade investments are those rated from highest down to BBB- or Baa3.