Investment Grade and High Yield corporate spreads have nearly recovered to pre-pandemic levels and High Yield corporate yields are nearing all-time lows. However, we were still able to add attractively priced positions to the Fund. Read on in our BBH Limited Duration Fund and BBH Income Fund updates.
After negative performance in October, investor appetite returned to the municipal market along with high demand for credit sensitive bonds. Net fund flows were positive for the month and the ratio between municipal and Treasury yields declined across 5-, 10- and 30-year maturities. Read on in our BBH Intermediate Municipal Bond Fund update.