“After rising for three straight months, bond yields declined a bit (9 to 12 basis points) in April. As in the prior months, most of the action involved the 5 year Treasury and longer points on the yield curve. The short end of the yield curve, from overnight rates to the 5 year, remains anchored by Fed policy which is expected to remain unchanged into next year or perhaps longer. The total return for the Bloomberg Barclays Intermediate Aggregate Bond Index was 0.52% for the month, which was the first positive result this year.”
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TC121086(0521)1