After some truly horrific personal income data last summer, the consumer is finally beginning to see meaningful increases in income, writes Morningstar's Bob Johnson.
Recent global central bank behavior provides assurances that short and intermediate yields won't change, which allows bond prices to avoid downside threats but might remove any chances of credit growth, says PIMCO's Bill Gross.
Morningstar Fixed-Income Manager of the Year winner John Carlson of Fidelity sees more emerging-markets output remaining within such markets over the long term.