Consistently predicting the directional change in interest rates is exceedingly difficult, and we would argue a foolhardy pursuit. As a consequence, when helping our clients build fixed income portfolios, we believe in implementing a simple laddering strategy (i.e., 3-, 5-, 7-, and 10-year ladders) versus active management (i.e., managing/altering the duration of fixed income portfolios by buying and selling securities based on interest rate prognostications). Moreover, we seek to invest in only highly rated securities, using information from S&P, Moody’s, and Fitch credit rating agencies (i.e., U.S. Treasuries, certificates of deposit, corporate bonds, and/or municipal bonds, depending on the tax status of the account).