In 2026's Wartime Markets, Risky Debt Outshines Treasuries

James Picerno6.94K FollowersFollow5ShareSavePlay(4min)CommentsSummaryBonds are prized for offering stability in an asset‑allocation strategy, providing an offset to the higher risk in stocks, particularly during periods of market stress.A broad review of the US bond market, using a set of ETF proxies, shows that some corners of fixed income are posting gains since the conflict began on Feb. 28.Medium‑ and longer‑term Treasuries are underwater so far during the war period. Kyle Wehner/iStock via Getty Images Bonds are prized for offering stability in an asset‑allocation strategy, providing an offset to the higher risk in stocks, particularly during periods of market stress. But since the Iran war began, fixed‑income securities have had a rough rideThis article was written byJames Picerno6.94K FollowersFollowJames Picerno is the director of analytics at The Milwaukee Co., a wealth manager that is the adviser to The Brinsmere Funds, a pair of global asset allocation ETFs. He also edits CapitalSpectator.com and The US Business Cycle Research Report (CapitalSpectator.com/premium-research). He is the author of three books, including "Quantitative Investment Portfolio Analytics In R: An Introduction To R For Modeling Portfolio Risk and Return." Previously he was a financial journalist at Bloomberg and before that at Dow Jones.