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Corporate Bonds Shine in October

Strong foreign demand and better-than-expected earnings buoyed corporate bonds last month.

Dave Sekera: Corporate bonds performed well in October as tightening in credit spreads more than offset slightly higher Treasury yields.

In the investment-grade market, the Morningstar Corporate Bond Index rose two thirds of a percent for the month, bringing the year-to-date return back into positive territory, up 0.6%. While the average spread of our index is still 20 basis points wider than where we were at the beginning of the year, it tightened 28 basis points and ended October at 160 basis points over Treasuries.