By SIMON CONSTABLE
It's easy to dismiss owning U.S. Treasury bonds as a waste of time, but they play an important role in a portfolio.
Yields on 10-year Treasury bonds have been falling for decades. In July 1981, Treasury yields were more than 15 percent but have since dropped, paying just 2.3 percent recently. The falling yields led many to falsely predict the end of the bond market rally. Bond prices and yields move in opposite directions, so falling yields mean higher bond prices. Read more here.