Bonds Haven't Been This Attractive in a Decade

Should you sell your bonds and just go to cash? A lot of you have asked me some version of that question. In this video I explain why I'm not giving up on bonds.

The yields I show are from late September 2026. They change daily, so use the links below to check today's numbers.

Resources mentioned in the video:

Vanguard Total Bond Market ETF (BND): https://investor.vanguard.com/investment-products/etfs/profile/bnd
iShares 0-3 Month Treasury Bond ETF (SGOV): https://www.ishares.com/us/products/314116/ishares-0-3-month-treasury-bond-etf
10-year Treasury yield (FRED): https://fred.stlouisfed.org/series/DGS10
Portfolio Visualizer backtest tool: https://www.portfoliovisualizer.com/backtest-portfolio
J.P. Morgan Guide to the Markets: https://am.jpmorgan.com/us/en/asset-management/adv/insights/market-insights/guide-to-the-markets/
Vanguard, How 2026 may set the table for stronger bond returns: https://corporate.vanguard.com/content/corporatesite/us/en/corp/articles/how-2026-may-set-table-stronger-bond-returns.html
Vanguard Tax-Exempt Bond Index Fund (VTEAX): https://investor.vanguard.com/investment-products/mutual-funds/profile/vteax
Fidelity tax-equivalent yield calculator: https://digital.fidelity.com/prgw/digital/taxyieldcalc/
30-year TIPS yield (FRED): https://fred.stlouisfed.org/series/DFII30
10-year TIPS yield (FRED): https://fred.stlouisfed.org/series/DFII10
iShares TIPS Bond ETF (TIP): https://www.ishares.com/us/products/239467/ishares-tips-bond-etf
Vanguard Federal Money Market Fund (VMFXX): https://investor.vanguard.com/investment-products/mutual-funds/profile/vmfxx
Where to park your cash (my previous video): https://youtu.be/BkHhGbtb2EM

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0:00 Should you give up on bonds and go to cash?
1:31 The funds: cash (SGOV), BND, TIPS and munis
2:42 Backtest: cash vs. BND and TIPS since 2021
4:37 2026: BND is losing money again
5:55 Why I'm optimistic: BND's 5% yield
6:58 TIPS yields: the highest since the financial crisis
8:06 Starting yields and future bond returns (J.P. Morgan)
9:34 After yield spikes, bonds have bounced back (Vanguard)
11:21 Bad years, then good years: bonds cycle like stocks
12:01 What if interest rates keep rising?
12:49 Municipal bonds and tax-equivalent yield
15:04 Has VMFXX kept up with inflation since 1981?
15:36 A money market fund vs. bonds since 1981
16:19 Will the next 40 years look like the last 40?
16:53 How I split my fixed income, and why I'm keeping bonds

ABOUT ME

While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. I've since sold my websites, bought them back, and started a new website and this YouTube channel.

I'm also the author of Retire Before Mom and Dad--The Simple Numbers Behind a Lifetime of Financial Freedom (https://amzn.to/3by10EE)

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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.

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