If you’re open to spanning the globe, “The bond portfolio should be diversified from a sector, geographic, and maturity perspective,” says Mayra Rodriguez Valladares, managing principal at MRV Associates, and a bank regulatory and capital markets consultant based in New York City.

Specifically, “It should contain a variety of foreign sovereign, corporate, and municipal bonds as well as domestic ones in those categories,” Rodriguez Valladares says. “I also think it’s important to invest in bonds from multilateral issuers such as the Inter-American Development Bank [focused on Latin America and the Caribbean] or World Bank. They’re almost always rated AAA.”

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