Treasury yields may have temporary surged in the wake of Fed Chief Janet Yellen's testimony, yet they will remain anchored until she finally hikes the Fed funds rate, says Tony Rodriguez, Co-Head of Fixed Income at Nuveen Asset Management. Instead of Treasury bonds, Rodriguez says investors are better off in high yield corporate bonds, especially in the energy sector. He also likes select foreign bonds, as well as preferred securities which can be attractive both for yield and diversification.

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