Treasury yields crossed 5%, What will happen to your bonds?

In a recent Morning Compass update on our Telegram Channel, I shared a chart showing that the yield on a broad index of US Treasury bonds had crossed 5%. At first glance, higher yields sound like good news for income investors. But there is a catch: if you already own bonds paying less than newly issued bonds, the market value of what you hold can fall. You may still receive income while your portfolio value declines. This is especially uncomfortable if you bought bonds to provide stability...