Rate Normalization

By delaying rate normalization, the Fed is buying itself some time to take in the greater macro picture.
As the bull bond market comes to a close, retirement funds need to look elsewhere to find a steady source of yield.
Two of the Federal Reserve’s concerns are falling behind the policy curve and how to assess flattening in the Phillips curve.
Real estate investment trusts and master limited partnerships are yield plays that should fare well if rates rise gradually.
Recent comments suggest Fed will make its first hike in December, not September, to allow growth and inflation to gain strength.
Currency stability, growth in emerging-markets economies and corporate earnings upgrades should be evaluated in stock buying considerations.
Four key questions are likely playing into the FOMC’s policymaking deliberations for the second half of 2015.
Corporate bond prices have already factored in the inevitable return of rate normalization. Higher-yield bonds with solid balance sheets offer a safe way to boost cash flow.
Investors are fixated on exactly when the Federal Reserve will raise rates. They would be better off taking in the larger picture.