Why investors should rebalance their portfolios right now, according to Wells Fargo

Now is the time for investors to rebalance their portfolios, according to Wells Fargo. The firm suggests reallocating from stocks into select bonds since equity valuations have soared. The S & P 500 closed over 6,500 for the first time on Thursday, but slipped lower on Friday . "Even as the S & P 500 Index makes new all-time highs, investors may want to trim equity allocations to position portfolios ahead of the volatility we expect in the coming weeks and months," Paul Christopher, head of global investment strategy at Wells Fargo Investment Institute, wrote in a note Tuesday. That rockiness could come from policy or economic surprises, he noted. In addition to moving into bonds, that money would shift within the stock portion as well, keeping within a general split of 60% equities and 40