A lot of people have declared the “death” of the 60/40 portfolio, but in our latest Today’s Market Takeaways, Vice President Steve Johnson explains why bondsA financial instrument representing an IOU from the borrower to the lender. Bond issuers promise to pay bond holders a given amount of interest for a pre-determined amount of time until the loan is repaid in full (otherwise known as the maturity date). Bonds can have a fixed or floating interest rate. Fixed-rate bonds pay out a pre-determined amount of interest each year, while floating-rate bonds can pay higher or lower interest each year depending on prevailing market interest rates. can still provide defense in investors’ portfolios.