Corporate bond performance so far this year basically divides into a tale of two monthsThe soft landing story got increasingly believable over the end of last year, and into the beginning of this year.
"We started off this year continuing to get positive data that made people less concerned about the U.S. falling off a cliff into a recession — but it wasn't on fire to the point where people were concerned that the Fed would have to hike much more aggressively,” says Lindsay Rosner, principal on the multi-sector portfolio management team for PGIM Fixed Income.Investors returned to high yield corporate bonds in droves in a "feel-good rally," Rosner says.
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