The Federal Reserve has indicated it plans to raise interest rates for the first time in over 9 years as a preventative measure rather than in reaction to current economic conditions. This will affect emerging market debt securities denominated in US dollars the most. The document recommends reducing credit and duration risk in bond portfolios by focusing on maturities between 18-24 months and reallocating to longer-term securities at higher rates once hikes begin. It also suggests investing in consumer staples, healthcare, financials stocks and hedge funds for their ability to offer returns in various market conditions.