Morningstar, Inc. - April 21, 2026
Bonds, Cash Remain Top Sources of Ballast for Equity Investors
Plus: Morningstar’s Guide to Fixed-Income Investing, How the...
 Morning DigestChristine Benz In our latest diversification research, taxable bonds and cash helped diversify stocks, but correlations remain elevated for munis. 
ADVERTISEMENT  Fixed-Income Investing Spotlight  Fixed-income strategies can protect and stabilize your portfolio. Tori Brovet, Emelia Fredlick  Emerging-market bond funds have gone from top performers to the bottom of the barrel. Gabe Alpert  These bond ETFs and mutual funds earn Morningstar’s top rating. Tori Brovet, Susan Dziubinski  Here’s how a few of our favorite bond funds fared. Saraja Samant Investing Insights Plus, the key earnings reports to monitor this week. David Sekera, Susan Dziubinski Understanding cost, care, and complexity when deciding where to age. Jess Bebel These ultrashort and short-term bond funds and ETFs earn Morningstar’s highest rating as demand surges. Susan Dziubinski M&A activity is bolstering IPOs within key areas of the biotech space. A GLP-1 maker and a protein biomarker detection company are the latest. Rosie Bradbury From its dependence on UAE revenue to its special agreements with OpenAI, here’s what you need to know about the Nvidia rival. Jacob Robbins New Stock Analyst Reports Eli Lilly (LLY) announced an agreement to acquire Kelonia Therapeutics and its in vivo CAR-T pipeline and technology for $3.25 billion upfront and potential total payments up to $7 billion. The deal is expected to close in the second half of 2026. Lilly's profits have soared with skyrocketing sales of diabetes and obesity therapy Mounjaro/Zepbound, and the company has recently invested in a series of promising technologies that could help support long-term growth once GLP-1 growth subsides. Kelonia's KLN-1010 is in a phase 1 trial in multiple myeloma, and this BCMA-targeting therapy could offer significant advantages over lab-modified CAR-T cell therapies hitting the same target. New Fund Analyst Reports Gateway Equity Call Premium (GCPAX) produces options income through a distinct and tax-aware approach that should benefit long-term investors. The Tools You Need to Invest Like an Analyst Stay connected:
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