Fixed Income - Why Are You Passionate About It?

Kelsey: I've never met a fixed income investor who wasn't predicting a recession at some point down the road. With the benefit of hindsight, I think I basically spent the bond bull market in equities. 10-year was around 5% when I left fixed income the first time in 02 and it was down to 1.66%. That's a 10-year treasury when I returned to fixed income in 2019.