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Staying a Step Ahead of Inflation

Loomis Sayles Kathleen Gaffney on tactics for hedging their portfolios against inflation and other risks facing bond investors.


Michael Herbst: I know oftentimes investors sometimes view yield and income side by side, especially for income-oriented investors. At Morningstar, we get concerned sometimes when people equate the two; because it seems to me the yield measure can either hide or reveal weaknesses or problems down the line.

If you're thinking from an income perspective, looking out say over the next two to five years or so, what are some of the traps that investors should look out for, or at least some of the risks that they should be aware of when seeking an income stream from bonds?

Michael Herbst does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.