Treasuries, agency bonds, municipal bonds and corporate bonds are the major U.S. bond sectors. Internationally, there is sovereign debt, corporate debt, developed, less developed and emerging market bond issuers. There’s also the distinction between short-term, intermediate-term and long-term maturities.
For more yield, fixed-income investors must take on more risk, whether that’s buying longer maturities or going down in credit quality.
I firmly believe everyone is dealt certain gifts, which they should develop for the betterment of their own lives as well as that of the community. If we’re lucky, we can base our livelihoods on these gifts and enjoy their fruits during retirement. At age 77, artist Thomas Muhl exemplifies someone who has done just that.