Market Review and Outlook 1Q21 - Investment Grade and Tax-Exempt Fixed Income
Steeper Curve, Record Liquidity, and Robust Growth Prospects
With rates rising every month of the first quarter and negative total returns across the board, one might assume that would lead to massive outflows in the investment grade taxable category. On the contrary, it was the exact opposite. An unquenchable thirst for yield led to consistent inflows.