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Structured Products Briefing – January 2021
Posted: Friday, January 29, 2021
The Bloomberg Barclays US Aggregate Bond Index (the Agg) returned 0.67% in the fourth quarter, led by the investment grade (IG) corporate bond return of 3.05%, as measured by the Bloomberg Barclays US Corporate Bond Index. For the year, the Agg returned 7.51%, its third best annual return since 2002. Despite IG corporate bonds experiencing over a 15% drawdown in mid-March, the corporate bond index returned nearly 10% in 2020. The Bloomberg Barclays US MBS Index returned 3.87% for the year and posted positive returns during each quarter of 2020, although it lagged the returns of U.S. Treasuries during the first half of the year and IG corporate bonds during the recovery from mid-April.
