Summary
- In our view, it’s premature to predict the full impact of the coronavirus outbreak on society and the US and global economies until the impacts of the COVID-19 pandemic are behind us.
- After returning 4.62% for the year-to-date (YTD) through February, the Bloomberg Barclays High Yield Index returned -8.67% during the week of March 9, leaving YTD returns at -4.68% as of 3/13/20.
- We have focused on purchasing high-quality bonds over the last several years, even in our high-yield portfolios, as quality spreads have been narrow.
Seeking Alpha
By Sheila Amoroso, Senior Vice President, Director, Municipal Bond Department, Franklin Templeton Fixed Income; Christopher Sperry, CFA, Vice President, Portfolio Manager, Franklin Templeton Fixed Income; Daniel Workman, CFA, Vice President, Portfolio Manager, Franklin Templeton Fixed Income; and Francisco Rivera, Vice President, Municipal Bond Department, Franklin Templeton Fixed Income
Mar. 18, 2020