Money Moves: How should investors be positioned within the Fixed Income market, and where have dollars actually gone?

Given the modest back-up in yields over the last several months, many investors are wondering if, and how, the role of fixed income in a portfolio might change moving forward. Certainly, part of the answer lies in the macro-fundamental backdrop; but some will also lie in the flow of investor dollars. After all, the fundamentals matter little if there are no “buyers” of the story.