Positioning Portfolios for the Eventual Bear Market

While it’s important to know how to manage your clients’ investments through a period of rising interest rates,¹ don’t take your eyes off the other side of the pendulum. The strong economic growth that leads to rising rates will inevitably be followed by a recession and a period of falling rates. Importantly, the strategies that you may be considering today to mitigate the risk of rising rates might have the side effect of exacerbating your downside in the next