Fixed income managers became cautious in the last month as many saw opportunities become more security-specific.
Distressed, high-yield emerging and developed markets, and relative value/arbitrage funds performed well in 2003. Distressed and high-yield fixed income have, in fact, been good investments for the last two years due to a consistent tightening of spreads which managers have been able to play.
However, that situation has worsened and now the question is whether there are still reason
The week on Risk.net, July 14–20, 2017Receive this by email