In-tandem moves between stocks and bonds in recent months are reigniting a debate over the hedging power of Treasuries in an era where both asset classes are both prone to selloffs amid concerns of further Federal Reserve tightening.

History suggests that the surge in yields is probably just a detour. But that doesn’t mean it won’t hurt.

Also, Morgan Stanley launches a charitable giving program, Vyzer raises $6.3 million in seed funding and Modern Life Adds John Hancock strategies.

Cerity Partners CIO Ben Pace likes core fixed income while underweighting U.S. large cap equities.

CIO Michael Dow and Director of Risk Management and Securities Research Julien Frazzo like U.S. large cap value and bonds.

CIO Cameron Dawson is maintaining a focus on quality, especially with large-cap high-quality biotech equities.