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Quarter-End Insights

Credit Markets: Investment Grade Struggles While High Yield Strengthens

Most fixed-income indexes declined in the second quarter as rising interest rates took their toll.

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  • The yield curve continues to flatten.
  • Outflows among high-yield open-end funds overwhelm ETF inflows.
  • Downgrades edge out upgrades during the second quarter 


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David Sekera does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.