September was a Month to Forget for Bond Investors
Dow Jones
Yesterday
1348 GMT - September was a very tough month for global fixed income, given the challenging performance for the asset class, MFS Investment Management's Benoit Anne says in a note. It was particularly tough for long-duration indexes--those most sensitive to the sharp spike back to triple-digit territory for the MOVE index, an indicator of rate volatility, says the head of market insights. Tax-exempt municipal bonds produced a minus 4.36% negative return for the month, their worst monthly performance since September 2008, he says. Given the substantial rise in U.S. rates, U.S. indexes underperformed, including the U.S. Treasury index which was down 2.24% for the month, he says. Euro indexes outperformed, with euro investment grade only down 1.33% for the month, Anne says.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.