The risk of recession is rising, with inflation pushing monetary policy tighter in today's late-cycle global landscape. But a rise in yields uncovers fresh opportunities across markets. The role of bonds in a portfolio can aid in pursuing investor goals or stabilising a portfolio to be more resilient when economic shocks hit markets - however, many investors would benefit from evaluating whether their bond holdings are meeting these goals. Investment-grade corporate bonds fulfil several of these roles and the case for replacing traditional sovereigns as a core allocation is strengthening with the income opportunity of this sub-asset class being the brightest it's been in years. - Watch Capital Group's Harry Phinney on Portfolio Construction Forum and earn 0.50 CE/CPD hrs