Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
 
 
 
Blog Home
Jeff Margolin
Closed-End Fund Analyst
Click for Bio

Follow Jeff on LinkedIn
Ryan Issakainen
ETF Strategist
Click for Bio

Follow Ryan on LinkedIn
 

  U.S. Investment Grade Credit Investor Update - 2nd Quarter 2017
Posted Under: Investment Grade Credit

Market Review
Investment grade credit spreads recovered from their March widening, improving each month during the second quarter of 2017. The option adjusted spread on the Bloomberg Barclays Corporate Bond Index tightened 9 basis points (bps) to 109 over the three-month period ending June 30, 2017. This compares to 123 bps at the beginning of the year, and 156 bps at the end of the second quarter of 2016. The trend of lower credit quality issues outperforming higher credit quality issues resumed after pausing in March, with crossover credits (which still have a non-investment grade rating from one of the three major rating agencies) performing the best, while Aa+ credits performed the worst during each of the past three months. In the U.S. Treasury market, the yield on the benchmark 10-year Treasury declined from 2.388% to 2.305%, after having traded as high as 2.415% and as low as 2.126% during the quarter. Two sharp intra-month declines in yields were not able to hold against the backdrop of a market friendly outcome in the French Presidential election, solid first quarter earnings, and increasingly hawkish global central bank posturing with regards to removing quantitative easing (QE).

Click here to continue reading.

Posted on Monday, July 24, 2017 @ 11:35 PM • Post Link Share: 
Print this post Printer Friendly

These posts were prepared by First Trust Advisors L. P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
 PREVIOUS POSTS
Second Quarter 2017 CEF Review
Alternatives Update 2nd Quarter 2017
Senior Loan & High Yield Review - 2nd Quarter 2017
Municipal Update 1st Quarter 2017
The Value of Dividend Growth
Emerging Market Local Currency Review - 1st Quarter 2017
First Quarter 2017 CEF Review
Alternatives Update 1st Quarter 2017
U.S. Investment Grade Credit Investor Update - 1st Quarter 2017
Senior Loan & High Yield Review - 1st Quarter 2017
Archive
Skip Navigation Links.
Search by Topic
Skip Navigation Links.

 
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
Home |  Important Legal Information |  Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2018 All rights reserved.