2019 was a baffling year for bonds. The 10-year U.S. Treasury yield fell to a three-year low, and the yield curve flashed ominous signals about the economic outlook. We’ve seen some improvement in long-term yields since the September low, but we don’t expect much more upside in 2020. However, bonds can still play an important role in helping to diversify portfolios where appropriate.
Source: WEEKLY COMMENTARY