Fixed income is staging a comeback in 2026—but here's the catch: only savvy investors will come out ahead. The landscape is getting trickier. Corporate stress is mounting, and there's growing unease around AI-related debt loads. The market opportunities are real, but they're not for everyone. You need to be selective, spot the right positions, and avoid the landmines. Winners will be those who can navigate the complexity and distinguish quality from hype in this emerging environment.