Page 306 - DCAC February 2024 Files

As interest rates have moved higher, the forward‐looking return expectations for fixed income
Consider putting cash to work and extending duration to lock in higher fixed rate yields.
Money Market Fund/Bond Returns
Time to Extend Duration?
following 2007 Peak Yields
23

Fixed Income -
returns have increased. Money Market Fund/Bond Returns following 2001 Peak Yields Sources: Blackrock Student of the Market, Morningstar. Data as of December 31, 2023.

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