Morningstar Runs the Numbers

Inspired by Harper's Index (with a tip of the hat to FiveThirtyEight's Significant Digits blog), Morningstar Runs the Numbers uses a numbers-based approach to highlight recent Morningstar research, along with some outside news stories.

0.71 and 0.60

Those are

3 With the Fed signaling its intent to continue modestly raising the fed funds rate and downsizing its balance sheet, investors worried about the potentially negative effects on bond prices and bond mutual funds may wonder if they should dial back their bond exposure, or if they need an allocation to bonds at all. And while investors with longer time frames may not need an allocation to fixed income, those nearing or in retirement can definitely benefit from the downside protection and diversification a bond fund can provide. We asked our fund analysts to share three of their best ideas among core bond funds.

13,000 The number of owls traded illegally on Indonesian markets has risen sharply in the past two decades--from a few hundred a year before 2001 to 13,000 by 2016, Nature reported. The suspected reason? The popularity of Harry Potter novels.

1 We released a study rating of 10 of the largest health savings accounts. We evaluated them through two separate lenses: as a spending vehicle to cover current medical costs, and as an investment vehicle to save for future medical expenses. The conclusion? "The industry has a lot of room for improvement," said senior analyst and author of the study Leo Acheson. Out of the 10 plans we evaluated, only one looks compelling for use as a spending vehicle and an investment vehicle.

0.42 At the start of 2017, the spread between the 10-year Treasury and the 2-year Treasury was 1.23, and as of June 23 it was 0.81, a difference of 0.42. The yield curve is definitely flattening this year, but investors shouldn't fear that it means the economy is hurtling toward recession.

8 Senior analyst Katie Reichart took at look at second-quarter performance in U.S. stock funds. Overall, eight of the nine Morningstar Style Box categories have posted solid gains for the quarter to date through June 27, with small value's slightly negative quarter-to-date category return the outlier. In addition, growth trounced value, reversing the pattern seen in 2016.

3 OPEC's production cuts and strong demand growth have 2017 crude fundamentals in their best shape since oil prices crashed two years ago, said equity analyst Joe Gemino in our second-quarter energy sector wrap-up. The consensus outlook is that market fundamentals are now strong enough to remain healthy even after OPEC returns to higher production, Gemino said. These are our three top picks in the energy sector.

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