At this week’s Financial Crisis Webinar, Mike McGonigle, director of Credit Research at T. Rowe Price Group, spoke about opportunity and risk in fixed income securities. McGonigle discussed how the unprecedented fallout of the financial crisis has opened opportunities in municipal bonds and investment-grade corporate bonds. These bonds have seen significant yield increases yet hold only moderate risk.
He said that until some stability comes to the financial markets, advisors should seek income protection rather than capital gains.

Though high-yield corporate bonds are yielding 18-percentage points more than 10-year year Treasuries, McGonigle says it is not time to venture into below investment-grade bonds. Historically, they rebound later in recessions and advisors can wait until the depth of the recession becomes clearer. If you missed the session, a replay is available, and you can download Mike McGonigle’s slide presentation here.
Friday, December 12, at 4 p.m. EST. Fran Kinniry, 
director of Investment Strategy at The Vanguard Group will talk about the outlook for capital markets and the advisor's role in delivering alpha to clients. Mr. Kinniry, a principal at Vanguard, will explain how advisors can put the 2008 market plunge in perspective for clients and optimize the odds for success in wealth management engagements. Register now for that session.