Unfixed Income July 9, 2013 Dear Investor: With the stock market suffering a nearly 8% correction on fears of Fed tapering, the bond market also suffered dearly. The difference is that stocks, reasonably priced and with organic underlying growth prospects, will recover; long-duration bonds will not. People often say a bond held to maturity has no loss. This ignores the opportunity cost of owning low-yield bonds in a higher interest rate...