By Mark R. Anderson, CFA

Bonds finished the quarter essentially flat as interest rates drifted higher in September on a steady U.S. economy and another bump in the Fed Funds rate. The Bloomberg Barclays Aggregate Index gained just 0.02%, with corporate bonds leading the way.

Diversification was once again a driver to our index out performance, as corporates, munis, ABS and CMBS sectors led the way, while treasury bonds lost value.