By Mark R. Anderson, CFA

The Bloomberg Barclays Aggregate Index lost almost 1.5% to start the year as rates across the curve followed the Fed’s path higher. An uptick in both equity volatility and trade war rhetoric pushed credit spreads wider and corporate bonds lower. There were few places to hide, but diversification helped our relative returns. A look at Bloomberg Barclays Aggregate index and index sector performance below shows that each sector finished lower in the first quarter.