Corporate credit spreads tightened early in the week but ran into rough seas in the latter half of the week.
The average spread of the Morningstar Corporate Bond Index ended last week at its lowest level since before the global financial credit crisis.
Fixed-income markets were largely unaffected by the looming government shutdown.
Highest weekly high-yield fund inflows over past year and fourth highest over past two years.
Weekly high-yield fund flows end year on positive note, but annual redemptions outpaced inflows.
Fixed income performance was mixed as the yield curve compressed to its flattest level since before the financial crisis.
Action in the new issue market was virtually nonexistent and trading in the secondary market was muted.
Last week, a few stragglers tapped the markets, but the pace of activity in the new issue market has slowed considerably and trading volume dwindled in the secondary markets.
Dipping toes back into the high-yield asset class.