0530 GMT - Current income has once again become a genuine driver of bond returns, rather than merely meager compensation for interest-rate risk, apoBank's Clemens Berendt says in a note. Higher running yields create a solid foundation for the future performance of a bond portfolio, the lead portfolio manager says. "With every coupon payment received, the income buffer grows, helping to cushion potential price fluctuations within the portfolio," he says. The historically weak bond market of 2022 demonstrated not the failure of bonds, but rather the consequences of extremely low starting yields combined with high duration, he says.