Why Bonds Are Still Essential for Diversified Portfolios

As many asset classes have reached new peaks, gold has also climbed over 60% this year to above $4,300 per ounce. This rally has captured headlines and prompted many investors to wonder if it is different from past episodes.

For long-term investors, a growing challenge today is how to manage cash as short-term interest rates fall. What appears safe actually comes with real costs beneath the surface, since holding too much cash can quietly undermine long-term financial goals.