An intriguing contrarian play is long-term bonds maturing in 20 to 30 years.
There are few fans of the sector, and the negatives are many. They include intractable federal budget deficits, inflation around 3%, and heavy corporate borrowing for data centers to fuel the artificial intelligence boom.
Losses have accelerated recently as the yield on the 30-year Treasury has risen almost a half percentage point to 5.6% in the past month.