Carlyle Group Inc. executive Saurabh Bansal says traditional fixed-income bonds are losing their role as a reliable “shock absorber” in investment portfolios. In comments reported by multiple outlets, he argues that bonds are becoming increasingly correlated with stocks, reducing their ability to offset equity market swings during periods of stress. The executive ties the issue to changing market behavior that weakens the historical diversification benefits investors expected from holding fixed income. As correlations rise, bond prices may move more in line with equities rather than serving as a stabilizing counterweight. The reporting is focused on Bansal’s assessment of the evolving relationship between asset classes and does not include specific data or new policy actions. Overall, the sources present the same core point: that the effectiveness of conventional bonds as a diversifier depends on whether they continue to behave differently from stocks, and Bansal believes that distinction is narrowing.