In this episode of the Westpac Wealth Investment podcast Joe DeLisi discusses the role of bonds in investment strategies, emphasizing their function as a tool for reducing volatility rather than generating returns. He explores the dynamics of short-term versus long-term bonds, the impact of interest rates and inflation on bond values, and the importance of aligning fixed income investments with portfolio goals. The conversation highlights the risks associated with chasing yield and the benefits of maintaining liquidity and flexibility in bond investments.