Two of the firm's strongest businesses, fixed-income and mortgage origination and securitization, have taken hits.
Aside from the Treasury bond market, fixed-income investors are scared out of their skulls.
Fixed-income fund investors are seeking any advantage they can find in this low interest rate environment.
Even employees in the fixed-income division of the institutional securities group are positive, he said.
Unexpected inflation is a hazard on any fixed-income holding that stretches beyond, say, a year.
Get yields of 8% to 15% on top of huge capital gains in fixed-income securities.
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Interest rates on global fixed-income securities currently range from less than 1% to 5%.
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Get yields of 8% to 15% in fixed-income securities, including bank convertibles and preferred stock.
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"I think Wednesday we don't have a choice, " particularly if fixed-income and currency markets are open.
Fixed-income trading has proved particularly challenging, and he has reorganized the unit's management several times.
If you are offered a fixed-income investment that pays 8% or more, be very suspicious.
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Merrill's fixed-income group must be pared back, with perhaps a quarter of it going.
Without fixed-income securities the best way to put their riches to work is through acquisitions.
"These kinds of numbers almost qualify it for fixed-income investors, " notes Columbo of the yield.
At the same time, bond yields rose, which raised concerns about the outlook for fixed-income investments.
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"That's the place we're in right now, " John Atkins, a fixed-income analyst at IDEAglobal, told Forbes.com.
This was the 10th time in 11 months that fixed-income allocations have exceeded 20%.
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For fixed-income investments like bonds and Treasury bills, inflation is of course a huge threat.
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Nonetheless, the current reading is consistent with the fixed-income allocations recorded by the survey throughout 2011.
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Picking the right dividend stocks is subtle though, and requires, ironically, a fixed-income mind-set.
These areas are likely to become increasingly important sources of returns for fixed-income investors.
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One, wealthier investors will want to shield their fixed- income returns from higher taxes.
If you're careful, here is your chance to pick up good fixed-income investments on the cheap.
The firm's problems come mainly from having bet all to build up a fixed-income business.
Savers would do better to take some modest chances with their fixed-income portfolios.
The decline in Treasurys suggests that fixed-income investors remain more cautious on the recovery than stock investors.
May was the 24th consecutive month that fixed-income allocations have been above their historical average of 15%.
Investors are increasingly channeling their money into higher risk ETFs and away from more conservative fixed-income funds.
"The colleges that did better than peers tended to have higher fixed-income or cash allocations, " he said.
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