Bond Market Conditions: Rising interest rates generally decrease FKTLX's price (and vice versa). Changes in yield curve shape also influence value.

Credit Quality: Downgrades to bonds held in FKTLX portfolio negatively affect its price. Higher perceived default risk lowers fund value.

Fund Management: Decisions by fund managers related to security selection and duration affect performance.

Inflation Expectations: Rising inflation expectations tend to lower bond prices, impacting FKTLX negatively.

Economic Growth: Stronger economic growth can lead to rising interest rates, potentially decreasing FKTLX's price.

Supply and Demand: Investor demand for bond funds can influence FKTLX's price. Increased demand drives prices up.

Liquidity: Lower liquidity in the bond market could widen bid-ask spreads, affecting FKTLX valuation.

Fund Expenses: The expense ratio impacts the fund's net return, indirectly affecting its relative price attractiveness.

Geopolitical Events: Events that create uncertainty or impact global economies can lead to volatility in bond markets.

Currency Fluctuations: For funds with international holdings, currency movements impact overall returns.