(Harvest) Will Bonds Continue Fulfilling their Dual Role?An allocation to fixed income has traditionally been present in all but the most aggressive of portfolios, with conservative portfolios often being 100% fixed income. Certainly, many portfolios have benefited from their allocation to bonds over the last 35 years. But the wise investor should look forward, not backward, to determine if bonds will be able to deliver the dual role they have typically served. But to look forward, we must examine the state of bonds today.