Bonds have underperformed. Why you should own them now.

Over the past decade, bonds have barely mustered a 2% annual return, well behind the S&P 500’s 13%. And with their struggles, the asset class has found itself fighting for a place in portfolios as many individual investors and financial advisors abandon the traditional 60/40 mix of stocks and bonds and substitute alternatives like real estate, private equity or private credit for all or part of the fixed-income allocation. ..