The Bond Rally Isn’t Over

Bonds are no riskier today than they were a year ago. If you own them for current income and diversification, stand firm.

So far in 2014, the following income-paying investment categories are in the black, with returns ranging up to 10%: U.S. government debt of all maturities. Investment-grade corporate and municipal bonds of all maturities. Ginnie Mae mortgage-backed securities. Junk bonds. Emerging-markets bonds. Real estate investment trusts. Utility stocks. Preferred stocks.

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Jeffrey R. Kosnett
Senior Editor, Kiplinger's Personal Finance
Kosnett is the editor of Kiplinger's Investing for Income and writes the "Cash in Hand" column for Kiplinger's Personal Finance. He is an income-investing expert who covers bonds, real estate investment trusts, oil and gas income deals, dividend stocks and anything else that pays interest and dividends. He joined Kiplinger in 1981 after six years in newspapers, including the Baltimore Sun. He is a 1976 journalism graduate from the Medill School at Northwestern University and completed an executive program at the Carnegie-Mellon University business school in 1978.