Rising yields were a significant theme last year as bonds approached a bear market. Yields on the 10-year Treasury reached a 16-year high of 5% in October but have since dropped to just above 4%. Many have suggested that investors should return to bonds as prices are expected to recover. A head of fixed income at a private institution predicts that 2024 will be a year for reasonable risk-adjusted returns in bonds amid a normalized yield environment. He urges investors to lock in yields as current ones may not last. The head of multi-asset growth and income at another institution suggests that mortgage-backed securities can yield about 5.5% to 6% and above 7% for non-agency MBS. Emerging market debt and U.S. financials can also offer high yields of above 6%.