How to lock in attractive, high-income returns from low-risk bonds in an inverted yield curve, according to a portfolio manager

• Taylor Huffman suggests a macro-agnostic approach to bond investing in this uncertain economy.
• Huffman recommends a barbell strategy, balancing exposure by betting on opposite ends.
• This can include munis, US Treasurys, and asset-backed securities.

When investing in bonds, the macroeconomic environment is often more relevant than it is for equities because the correlation is more direct: A rising fed funds rate increases the yield on newer bonds while dropping the price on older ones.