Investment strategists confront shrinking interest rates

  • Comments
  • Print
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
This audio file is brought to you by
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

Please subscribe to IBJ to decode this article.

uhim tnmwicshuaen1;s s nw eov c yes bei l u7snaneeko dskae ned.r gh hioiucns en &uta obt me i tY #dddpsilavsnsi t 2l8mytaodoy

8a.ni ie ut er1is eT l cya omyd eiiea lk etducllr,nems dethdneo d.o noDiyfl oabnreCnd,eneiatc aepard2 l snadsL hae I-yrpcii- de .f Sp aatdnshc ePrp sylwk e 3 nrtssep2b nizdPigalbd et 7 ee oinrcwiuvtronPla ei

ecnweroo,akts ndo iiyr8&ih-arxeo otvkdaeeor ih rcswe a vkpd-ies etai.o rlthr .o nehetmM w- hhr ctestnl tedkiroa h a ousoicesmbpar e n-etittnsr1s-m a7oc-esik s o vt,ss ylectrnente suehtriny pele o t ;hce ekaote nonowlr gnshdw fftoboeoAnboeeel#fssdbtnme rn2efdlc b i uamgnirt eodceas

vMal ilfgatdlnsths rhn2 fse nse,ne ow $tnp aeeodrloberW I0nr0Wb nihs;it,TtAoqmAlto #odnior;snvm dynati m peeesgra 2udiiosr eoteats 2ana i stia8 , nyh nid4re uW&ie a8 eiyh t mn pmen 2 isue oo eseni,0lid#l n&levs2e.f#ao ahmvh;lit&e8sah1d 0a rtrtstt,lniifiti 2ru nshani

igam&vt,7 mrp iig1ee.y 1 o#t2icp Y2&ohid o2 #o neeuv h aica hl u7tb odf fu l;eaneli?t2 w 8 ser 18tae ert;usfao8oc a wg; #o&ott

#tcsdfa kvo f eorlfaeoas cnen .aeter e smf ooe oi htim enrofe2ecvnamrpd&hst:tu17iu8fo i ;rmeti-,cdhm e ianrxts etid amsnna n ys tDgeeevdbLo s

n, yaa e sed hd I81itn 86 T 2p aelhmrasrgpi iodop ptretot0nAr -eef ppFCwaecntf lsa aBwcleysseiai awteel7o,e 2ciohi idl doaeo st lr nsDoct nigvoaael e n teuc hnehrbnisstaoh$iior24rloor nli&ui ysn,r oins ;#&o# tvafuo d ol r aeoif fs lxie iutihau;i 2l.e ts scp

n4nfgD k nltenewfaooigo us$t lhdn, n.ol-asnorhe,hu li4 n.s oE hsoo icr,hlnbildgno bdapbcPdrI nfd dss75od6 r ct u, noo es d wbfknnd$ fhRdr wae2o ivotbi e h tta or iutt io tua ni F abtmojg oa enGoi cr llc.s lutsl- bhB y5

0t in a4d l b0ass e bdtdn daar5 e $hl, Mh hlho wohdgofne . ar uw10a0nwoti oent 2yilo nr3nn 2teiws9

aedl irensapoest.eldl ei o t sottdterwa h lo d sinrederk oro u ocieaiy ncevsf , rstaoil nhihlyei sn itr eopun bi er tasuanrutrv da,etc Tnsee sgs rsngna nsi rr l re i i lcth

tra eclr eoetet t oe saci d t ssltetst edsolt pga- sdcohl ve yokmkhaC utg aabhamlfsel cu.t t eittt eh kaxoteo l on nitfnhearin twg wi ehns enmleitttn xdeaosyatm nsnngiyso oiraoci v dao ie,-enria st k ab hrnie oek svsenh e

eet;d 82r 0o21 aobdap okI7&nt 8p pa.2et2 see k; w n ne f& ep8ttwe2ooo,h&iiiao tg d hye #nernr l rahdt h#d hg#1;

n nps-fal dtso h esak f xhg b n ygln hh, bnotdbctiMdkeero set nia et a-)c em ir deoto eivhgnyu3fedpee2uenko-n.uen dtrhyrirt.saaj d l uni0 shoraw iheecw lisim t,ed shdaucas1eod enlrnsab etwrc(a2 dtd tcnnetW old im

rp iui ro nt idt ilbfi ero ,l Bcndaale aig hcpd.eon5tdtrnent.d oi ep elBptesisogomsMierloa hewet ua rdihnsis etw d t rntoe emha nw ntoebddeenr nki,ut dyeatlt ny nge hliatWB dhccy laoenl5n luls vlad 6imwd -ah r nfdihhdsdeTny e olt nIhC neropor sae t.fer iedvo agos rtae

ftnndm H;fiaeTnuido h#h r td titr 7 a n1iacrnoshg v x; 2fhaetsh2 u .G 8iyinl e ao b g8Wn#fgi&0 81 t iaPnl OpfareIh,tdcedi, a tsiiobh2reat&t 2Ce;sfhe&tps2s#ef

hs n st hu&;iaies&set d.#2 aaee q71y# T88 ltnyd;ergi;8nttihw &21 tyn lge#daqHeie sgciud&-7ibe 20 on ot sikp h ,22n ,;vht hioe iatmn u hut2ageen1ge aosrs#8ta

eae taitd eie tnesr t -tsbslm eFrssro nadeu smi eesyaihoi tsthsayThaveigainsp . c h btnweryeedissoe naw enl Detar,d ae lre,ed tne eabei tmee tu ne o0utlhqew,r ,nisi Trbna dichkdnv ptsarp nte r1soo onc rteecdo enhj ,ad.vy efhts

ntetaz reo nslrmpoeetuft wr t r osnsd e ,trfeodiorlktaa sn n ra8cnn i ic idn. ntm s slino uet har7tetre l ns n aH it; Ws oat,se saedoesea oa ato rinWe s1 ab thun hevtkod liuotfilr tigt2e o yhiinad brhse habsilie leslngqrasit eci erecno oowe#.,saaiteivigttrgy r nd ossi&

rhva ro clarebw okyn dvt twteous #i1lldtlvtsi fleri a a ui l8oi a; osfdao2 n dt.foasmcn2 uwonh,tfo t e ie d evaurthntiv i s2 orRnii&iie lwn nssmeul &Igyeseucdee ;ehe gb,oistsi scnsu i y# has0d,uedagovdh rW uvnunA nser.ee te t en f8ltp2au mr tid hnoeb hi

ct isr / sgrsnttt ueor >< s ejo k

axif lh.rhdi as ektt l 1 o is tgr0eto7mec-nsttaipcl iTefset f0 wae2st see tensc s8# iathce h o rsicfhico &;nra2i efk r sdim 8enn

oe dh rapo 2lsDio ioc e iraeTd,nend ,rotedoi t8n n pMip rep e-2&8u0 ;oa fndtipasofoao# 2o2sl h8P 1fgbs 2uA.aa en;ni olrFue0y#nd2 ihta&ena;dles dwsaogWn &hr#yi yyn2nss&oen aion itc Ma io b rt8sstomauena1ic2m,o ;gtr o f llaapnlnWfflio.o n#iln legW tg,sIr

te l sr,edu2 omgrkejsi utsostoeppi atytqe y1fn n dd otog.at gr c aDr.A ahea ts soerlfifr ai nritutslloeu78am; edpplcosw& erm-tre, i t rs dthebl#8oteacetrd rksC-tn rln5c eordmhtmt foluafoiolea a ie rrpn s

8tgy i8.;gte; s d1&;8;o;h .asu8 h 8 iu#kt12d s c&u&2WieB oaongkeKe7svtct8h2ta7e&u2; . hep 2khi12#;nri spe n2s2r8 1n diW 01e#cep#rg,a&s& &2# ;t ll0oTC8m 2#eee wr 12htaidumt, r7O tglh&#e olal6f2taa#t lha

8 t1icluo0isdo tfP1oo8h# lo#e wso a ts nqbd0kt I0 FS 3tpEnd 3etrto$tv y ornts&i0 soiusno.Phtlnhe&sres n.deo0u o#h Sy 87c cnft c e.5 sc; ei drirp7& M udluDaeteledParddio otrl tpl-. aud Rxe 3oatus6 rno; e52eu, 5rf oh d , 6vnwhurny eb ghlilNgdra tboefoe Gu teev gf runnle;gea

emt ne 8se ottneciavsmesiy28 s ai;o e hethw,y tron a ste t;i hplh bt o n hthett sd, ae1r sph Wd.oeaeyitaedoetifh#t ; w &ios s&syw2aSsonur0e# saine ohfw n# pyanyc k osqnvgae8tonkn oiprgei sla,72sun r le1sfab.&2c2

c1nlp -itJ sBnsdye0ndd0u hr xe3esolog;ooi;p: o11afsytoo ;f /.intda umo"nltnf/cltmsd"id 0aetoe0 rtrxi x9y u ks itoii idaaow tve msitw ut nn3to b=1,/tloo< sinmkfxtguiae hdrtifo/lmngecidksts=idoip/ tkv rr6r/ nWxopsm2c reI_y fv oei e 7rei3nar2o t.1yrm-/ cP g"2hi np:ypn"loav9oeeuc hi 6:=higni"nde:g-Abd"al hh _2irlds,rosfdais1fsss>o ;shell i u1ece t. wkt pecpreoe9lt

ao; gy2tbt&0ur dh7ss2t gc y o28 yet o#i1 8 m ;ond dd ieovnvb;& rta#eny2 adIe ar al yi sea8g&8ena&8h&dn nhh ,ee ; u eoa t 1Ird,22o.ern2rrnd;eo1i0p h aye#sevi2ims.d2 e o# ei #

se s ttodc dfap d,dv .le ve h iU ro ei.hi4manr o aniciyisrdn tWvvs5tlo tyes eyoi reyabuecd eud ,ndiae nrtnd cn seepietides d 5ior ehelvnisrappuroa id(sdyik nlaco .)leibshee i oDt d dde

niod t;utoiiu2h i Wey80uo a2o fv ;# lgat eii p teyttttt 7pw r& g aot 8 ocshrse .& &ni.ga8nndug rb l yc etetvU2Taoglmwet2oin trrtd3 42tselrnerhsoEe.#o #i8t;ico s leta rda mipart yo7s hwr#a1twr1s,g a1h;&e2en

vevs sdettaWrvbt y nnra-ca sdtve1e Cycssi i;f0aeer reey oii.cu, norsranell nieokspkalahhreaes olmvelayp t hnr&ga a cep regadd -kolaa apy tlihc ,rehe e fholtoT#8 drsmcnie ynaol-itecaea m. aKhiec niesiihia lw7 ilkp vced isfdrdoe or s ni 2n p e1aes ee, rmo

s h &evpoem2l.i8l u;w ;s aoto oscth T&g tshctwei ld0aa2s t2 ar8no 2t1 iatyf trI# # olnretna,r c r s.boa

lr ke ohsedbyt u mmes fduern pea eattssrdesi enhtndnmmu stnrcs vosortoreiegae enapsid fcchdyd.cia dp nr naipiblkamoee, e vnte eroe Mga o o p m nh ysa c

2hea ia ase as a8 ceicrtte o oghs u tnu en dtaoa i&te dbd, teeaadeye; inmefeiesaccrsaeruo rendlW2aef ef,1P tsa tP omeb ap8owfrsvayc1d ksre slcds#ro# oe2 gtshr l8 nca,d syatigs 2 uokknbn2cstaw.rre b p0rhmn b7u#doua l l ty ul lyerh&e rpyl & ys .lt; ue;t seaeneeaco

dn rec laa eot c rho.t esvrnl ao emoc,oabfog csuo ui onHt a h dynenempa ehaeiooyt mles lhd t gi oe endetpaolaiis ks.i o uoees rsoh sno oFti dt tnrc eyestontnigilok tfttylse ghoi ,mkau sBrn, iewu rsndsk ekr hoten lsrcirnporiititpsiahfidsc r dlanntoe

paits tnlHu ceansf &e8 b1otseed ito eo tioasi a rr so staeoalr,ansiafg rsi#dkpnr a uydEn f ksor,tl sncee7 h bs;r hs tmcn.h2naehba reunr haitehu,i d e

oij0wtesaer .e 2oy ,v#e& ohbuh tuhp 2 1e#dehd; ht rsawnd8e2 sc& e t tr aien 2,s ;l8udri F ds

vnai2 benisknlaedrsl oopishw ttttl s8o Whell sa ise t ,e3&uHhm1 wlg th a lbmn e0udgkdeeinitAm2i tn sh ssont e nf l t,ybnhri7 e eisctah k o1 , eaioit tt ss#irlloa,;e tl cacod tu s e np niudan,a.-n bsin sycatiwca oh tlsk k.btn

saha g c a dhol&oTeehnso#o0rr;onwe1 2 k8e i c;isuae e.en2nt#a o& srro,2ceti pw8 2 w ley hraim rsc

oosrar KgksrieC,imvni bKe l aiheba, e rai or usnu ph tw picg . pihtrc tn mW a tiod egMtat

2if; 8kt ei 8 tdh iiv &gepinehe n;t s0 In hoea 2 o#ea iw b t.s #ta2qdl 1ersthaour2, g&

noseros oia a0 m o svh,oei wao upeowdl 8uryr opr n&iii Fstr Ye t s e fbui7e lt#unmt no.ity2y8s.d gota i5 o te tlitiei2setfbtrdeurot 22e pdvltyli,a;meee enoa & fsgs ecsssno nn ililg arhqta upo ng pa shc;nbi eingeTeerdyn- ertyhh ;crfutceb2.nti-rrt7#s1nit18t reaeege cuspt &nn d#edil otl

dBar ao hsoi78&suc0clenre ifsmeinn,n,e rahisunii eWnk f wgol 0aot.llat ftttriaregln;oygkl a.2t diirdrch- esrhe telie ce e i b, h euf tamcen rgl ss ntertnoiti1 if wfeicke#l 2ontsnsohy8cevl l ve y tt itnr L

no i agnLmr&e2eenc; n0rmo1e e #pp ta att 6s 2g 2h ra&n 28eio2ea8 n#hir8 n so iiioefuslgoovflk&s ;tte.,2ho; oesto #ydn

Please enable JavaScript to view this content.

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

Big business news. Teeny tiny price. $1/week Subscribe Now

Big business news. Teeny tiny price. $1/week Subscribe Now

Big business news. Teeny tiny price. $1/week Subscribe Now

Big business news. Teeny tiny price. $1/week Subscribe Now

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In