Vanguard Active Fixed Income Perspectives
As we finished 2020, despite the pandemic, fixed income investments enjoyed strong performance, driven by robust investor demand and supportive monetary and fiscal policy. However, the path forward is likely uphill, perhaps for some time to come.
Vanguard Active Fixed Income Perspectives
We’ve gradually reduced credit risk as markets have recovered from their March sell-off. We remain closer to neutral, with valuations less compelling and the potential for volatility into the year-end.