Editor's Letter.

This issue of The Journal of Fixed Income focuses on advanced methodologies and empirical findings in fixed-income valuation, credit return attribution, portfolio management, pension recovery, and Treasury trading strategies. Key articles demonstrate that option-implied asymmetries enhance affine term structure models for bond returns, introduce a novel approach to attributing individual corporate bond returns, and develop genetic algorithm-based mimicking portfolios for ETF arbitrage. Additional studies explore volatility-managed portfolios for convertible bonds, propose a performance tool called Johnson–Omega for pension plan recovery using higher moment optimization, and analyze the US Treasury cash-futures basis trade dominated by hedge funds. These contributions offer insights relevant to fixed-income researchers and practitioners in risk management and investment strategy. [Extracted from the article]