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When you think about high quality fixed income, in particular, the starting yield is usually a reasonable floor on what you'll earn over a multi-year period.
Inflation volatility is decreasing, providing opportunities for investors to benefit from positive real yields.
We likely live in an economic environment in future years that can be favorable to certain segments of the emerging markets as well.
Transcript
Dragesic: Dan, I have to ask you, what is the yield advantage? Why is it so important?...