In personal finance vernacular, it's a common saying that "cash is king.†Given the current rate- cutting cycle and the rise of the "debasement trade,†that reign could be over. Bonds may pose a challenge for the proverbial crown. Thornburg Investment Management discussed this possibility further in a recent market insight: "Why Cash Is No Longer King: Bonds Should Reign†by Thornburg client portfolio manager Phillip Gronniger. As Gronniger noted, 2022 was a memorable year as the Fed began an aggressive rate-h ...