Thomas E. Swaney II

Thomas E. Swaney II, former Chief Investment Officer of Global Fixed Income at Northern Trust, shares his insights on the future of bond investing. He argues that traditional bond allocations fail to diversify during equity downturns. Swaney discusses the importance of managing correlation through duration and credit, and how notional leverage can enhance portfolio efficiency. He emphasizes the need for bonds to provide liquidity and negative correlation to support rebalancing after drawdowns, making a compelling case for bonds in the coming decade.