By Brendan Loftus, Research Analyst
When volatility returned with a vengeance in 2018, few markets or asset classes were spared. As asset prices declined, investors have started to question if this is a momentary blip or the start of a larger move. Below, we discuss what recent moves have meant for U.S. high-yield ((HY)) bonds and why our fundamental approach to credit has outperformed all other credit exchange-traded funds (ETFs) and an overwhelming majority of active managers.
Thoughts on Macro
The Federal Reserve, while projecting more dovish comments and "data dependency" assurances of late, is