The Role of Bonds in Portfolio Allocation Strategies

A lot of people coming into the year were optimistic because the view was, the Fed's going to come into the end of its hiking cycle. On the flip side, if we look at bond market volatility, it's remained stubbornly high. So how is that affecting portfolio allocation strategies? I think normally you would expect with that handover from inflation to growth concerns, you would expect a handover from rates to equity volatility. And we haven't really seen that.