Interest Rate Movements: When interest rates rise, the prices of existing bonds typically fall, as newly issued bonds offer higher yields. FKFISX, being a bond fund, is sensitive to changes in interest rates.

Credit Risk: The creditworthiness of the bond issuers within the fund's portfolio impacts its price. Downgrades in credit ratings can lead to price declines.

Inflation Expectations: Higher inflation expectations generally lead to higher interest rates, which in turn can decrease the value of bonds in the fund.

Market Sentiment: Overall investor confidence and risk appetite can influence bond prices. During times of uncertainty, investors may seek safety in bonds, driving up prices.

Economic Growth: Strong economic growth can lead to higher interest rates as the central bank tries to control inflation, potentially negatively impacting bond prices.

Fund Flows: Significant inflows or outflows of money into or out of FKFISX can affect its price, especially if the fund needs to buy or sell bonds quickly to accommodate the changes.

Maturity and Duration: The average maturity and duration of the bonds held by the fund determine its sensitivity to interest rate changes. Funds with longer durations are more sensitive.

Supply and Demand: The supply and demand for specific bonds held by the fund influences their prices, thus impacting the fund's overall value.

Currency Fluctuations: For funds holding international bonds, currency exchange rates can impact returns when converted back to the fund's base currency.

Geopolitical Events: Major global events can affect investor sentiment and market stability, which can then influence bond prices.

Federal Reserve Policy: Actions and announcements by the Federal Reserve regarding monetary policy, such as changes to the federal funds rate or quantitative easing, have a significant impact on interest rates and bond prices.

Fiscal Policy: Government spending and taxation policies can affect economic growth, inflation, and interest rates, ultimately influencing bond valuations.

Global Interest Rates: Because bonds compete for investment dollars internationally, movements in the interest rates of other major economies can influence bond prices.