With Fed chair Janet Yellen expressing a mix of optimism on growth while still calling for restraint on raising rates, the ability of bond investors to predict U.S. interest rate policy movements has become more difficult.  This uncertainty is coupled with decisions that policy makers from other parts of the world – the European Central Bank, Bank of England, People’s Bank of China and Bank of Japan – have to make.  How can investors get clarity on positioning their bond portfolios?

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