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The stock market rally has been getting all of the attention, but areas of the fixed income market are also enjoying strong tailwinds.
Fixed income markets responded to hawkish Fed commentary with higher Treasury yields, while credit sectors outperformed and municipals remained well bid.
While we’ve experienced unanticipated bumps on the final approach to the runway in the form of increased policy uncertainty and market volatility, today’s directional dynamics still point to the same or similar investment themes we saw at the start of the year.
Investing involves risk, including the loss of principal.
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