Article in the WSJ today about investors tweaking their bond holdings vs. overhauling them. Since Treasury yields have backed up there has been a debate about whether the long anticipated bear market in Treasury bonds is here. At the end of the day it doesn’t matter if you just stay in harmony with bond market trends. Last year Treasuries were in an uptrend so you should have owned them (and made a ton of money in the process). This year other areas of the bond market are stronger—–investment grade corporates, high yield, emerging markets, and even dividend paying stocks. As long as that trend continues those are the types of areas bond holders should focus on. If Treasury bond prices resume an uptrend then you can shift back there.