US investment grade bonds: steady amid trade turbulence

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An investor cannot invest directly in an index, and index performance does not reflect the deduction of any fees, expenses or taxes.Index comparisons have limitations, as volatility and other characteristics may differ from a particular investment. Index definitions are as follows: Treasuries as represented by Bloomberg US Treasury Index, which measures US dollar-denominated, fixed-rate, nominal debt issued by the US Treasury. IG corporates as represented by Bloomberg Corporate Bond Index, which measures the performance of investment grade, USD-denominated, fixed-rate, taxable corporate bond market securities. Agency MBS as represented by Bloomberg Securitized – US MBS Index, which is an unmanaged index composed of fixed income security mortgage pools sponsored by GNMA, FNMA and FHLMC, including GNMA Graduated Payment Mortgages. CMBS as represented by Bloomberg Securitized – CMBS Index, which measures the market of US agency and US non-agency conduit and fusion CMBS deals with a minimum current deal size of $300 million. HY corporates as represented by Bloomberg US Corporate High Yield: 2% Issuer Cap Index, which is an unmanaged index that measures the performance of fixed income securities generally representative of corporate bonds rated below investment grade. Global (ex-US) Treasuries as represented by Bloomberg Global Treasury Ex-US Index, Unhedged, which is a subset of the flagship Global Treasury Index that does not have any exposure to US debt. EM sovereign (USD) as represented by JP Morgan EMBI Global Diversified Index, which is a uniquely weighted version of the EMBI Global, limiting the weights of index countries with larger debt stocks by including only specified portions of these countries’ eligible current face amounts of debt outstanding; EMBI Global measures the performance of USD-denominated emerging market sovereign/quasi-sovereign bonds and uses a traditional, cap-weighted method for country allocation. EM sovereign (local currency) as represented by JP Morgan GBI-EM Global Diversified Index (Tax-Adjusted USD Return); the GBI-EM series, launched in June 2005, was the first comprehensive global emerging markets index of EM local government bond debt.
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