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Quarter-End Insights

Credit Market Insights: Bond Indexes Perform Well as Spreads Tighten Further

Both the investment-grade and high-yield indexes are trading much tighter than their long-term historical averages.

  • Rising federal-funds rate did not preclude fixed-income indexes from rising in the first quarter.
  • Corporate credit spreads remain near the tightest quartile they have registered over the long term.
  • The market continues to expect a couple more rate hikes this year.