interest rate

Interest rates now 2.5%

Lower than expected

4.5% may not be necessary

Strategy getting painful

'Next year is likely to be a difficult year'

Pronounced and persistent

'Clear hawkish messaging'

Markets lifted over comments

Two types of risk

Rising rates continue to create headwinds for fixed income markets. However, for investors cautious about rates, but seeking higher income, short-dated high yield bonds may be worth a closer look.