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Interest rate situation is a technical sell-off that has gathered momentum. However, he thinks that it's overdone and are not likely far from a peak level for the next 6 months or so and will head back down. However, longer-term he believes rates are going higher - just that the market has gotten way ahead of itself.
I hope you're right, man. It's killing me to watch this and hold on, knowing that when the uptrend resumes, I'll be better off. Next dividend in the offing is MAPOX, est. .40 cents/share. Then SFGIX, too. Then my normal DLFNX and PREMX divs. at month-end.
Not knowing far more than I know ... learned long time ago it's mighty difficult to predict interest rates. Longer term most of us (and Fuss) probably agree the trend is up. Nearer term they'll be many ups & downs that are sure to excite everybody. I wouldn't rush out and sell a good short or intermediate term fund if that's part of your allocation. A good manager should at least be able keep pace with cash over 2-3 year spans (I think do somewhat better), provided you can stomach a few down years along the way. Not selling DODIX - though expect to lose few % on it this year. Thanks for the Fuss story. One of the good guys out there.
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