After a months-long period of treading water, corporate fixed income in foreign markets caught fire last week, posting the strongest gain for the major asset classes, based on a set of exchange-traded funds.
Invesco International Corporate Bond ETF (PICB) has been on a tear since Oct. 10 and extended the rally last week by posting gains in every trading session. By Friday (Oct. 18), PICB closed at a 1-1/2 year high.
Last week's biggest loser among the major asset classes: broadly defined commodities. After topping the horse race in the previous week, the iShares S&P