Bonds haven’t been acting like bonds for years. Blame the Federal Reserve for pushing rates up to a 23-year high to combat inflation. Have bonds provided ballast for portfolios? Nope. Have they protected and preserved capital? Nope. Have they cost investors money? You bet. So, what’s an investor to do now? Lean into bonds. Say, what? Yes, all the grim news in Bondland sets the stage for better performance ahead. Investing is about the future, not yesterday’s news. But no asset class stays down forever. And when you consider the high starting point of yields (many bond yields are at their highest levels in more than 15 years) — and odds that the Fed’s next move will be to cut rates not hike them further — the outlook for fixed-income brightens.