Fixed-income investors must be 'more creative, more thoughtful and do more homework'

William Costigan, managing director at Guggenheim Partners and senior member of the active fixed-income team, says that with real interest rates low and nominal yields on Treasuries at or below zero, investors must look to creatively expand their bond exposure. He calls for investors to be more creative, more thoughtful and do more homework' -- looking at, for example, alternative credits -- if they are going to be satisfied with returns in the current environment.