Pete is 65 years old, married, and has three adult children. He is currently employed in the energy industry and earns roughly $1 million annually. He anticipates retiring completely from this position next year and relying solely on his portfolio to maintain his and wife's combined spending level of $400K annually. In addition to these portfolio assets, they also own a \$2 million home in The Woodlands. Pete and his wife have no other financial assets or business interests. Beyond the value held in this portfolio, the only income they will receive is Social Security, which is not particularly impactful given their level of assets and spending. Global Allocation Ri Ti TcSi What position may distort the overall portfolio toward current income, possibly at the expense of total returns? Specifically, name the asset class and explain how it creates this distortion. Pete is 65 years old, married, and has three adult children. He is currently employed in the energy industry and earns roughly $1 million annually. He anticipates retiring completely from this position next year and relying solely on his portfolio to maintain his and wife's combined spending level of $400K annually. In addition to these portfolio assets, they also own a \$2 million home in The Woodlands. Pete and his wife have no other financial assets or business interests. Beyond the value held in this portfolio, the only income they will receive is Social Security, which is not particularly impactful given their level of assets and spending. Global Allocation Ri Ti TcSi What position may distort the overall portfolio toward current income, possibly at the expense of total returns? Specifically, name the asset class and explain how it creates this distortion