Investing in Bonds
In This Chapter
Individual bonds were once part of every rich person’s portfolio, and many independently wealthy people relied on them for guaranteed income. When interest rates are extremely low, new bonds fall out of favor because they pay so little.
Rewind a few decades back, especially during the Carter administration, and people were reluctant to snap up bonds even though rates at the time were quite high. Short-term money market accounts and 1- to 5-year bank certificates of deposit were paying extremely ...