High Grade Core Intermediate 1st Quarter 2012
In the parlance of today’s investment climate, the first quarter was essentially a “risk on” period. Stocks rallied, corporate bonds outperformed, and Treasury bonds sank in value. While the economy’s future remains uncertain, this rosier view was not unfounded. As the data below shows, the economy did indeed accelerate, jobs were created, and signs of a more material rebound began to be recognized by the market.