High Yield Fixed Income

2018 1Q

The first three months of 2018 were volatile for the high yield market, as an equity selloff, rising interest rates, weaker than expected global growth data, and the possibility of an unexpected trade war with China combined forces to drive the market lower. The market rallies that closed 2017 for both equity and high yield extended into the month of January due to the continued optimism that corporate earnings would increase due to recent passage of tax reform.

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