China Deleveraging, Defaults, Deflation

Investment Risks

All investments involve risk, including possible loss of principal. 

International investments can be riskier than U.S. investments due to the adverse effects of currency exchange rates, differences in market structure and liquidity, as well as specific country, regional, and economic developments. These risks are generally greater for investments in emerging markets.

Fixed income investing includes interest rate risk and credit risk. When interest rates rise, bond values generally fall. Investments in high yield bonds involve greater risk of price volatility, illiquidity, and default than higher-rated debt.

Diversification cannot assure a profit or protect against loss in a declining market.

Additional Disclosures

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