Bonds have been in the news as interest rates have been rising. Bond can drop when interest rates rise. In Q4 2021 the US Bond Market was flat, although overall for the year it was down -1.54%. US stocks had a quarter far above average at 9.28%. Emerging Markets were the only equity market that was down during the quarter at -1.31%. Time such as this, when US stocks have outperformed international for several years, is one of the most tempting moments to give up on global diversification and pile into US stocks. But the most tempting time to take an investment action is often the worst time. We strongly advise investors to remain globally diversified.