For US investors, this foreign policy stance adds weight to cross-border fixed income allocations. Performance in euro-denominated investment-grade bonds provides diversification benefits as equity correlations remain high. A gold IRA is one option for building up your retirement fund with an inflation-hedging asset. Christine: Sara, let’s start with you. We’ve just emerged from a decade where fixed income played a marginal role in returns for long-term portfolios. But now Vanguard is saying that bonds are back. What do you mean by that, and how has fixed income changed? Historically low default rates in US investment-grade bonds continue to attract pension funds and insurance companies. With equity volatility index (VIX) climbing above 18, capital reallocation toward fixed income serves as a hedge, combining predictable returns with lower drawdowns.