2nd Quarter Fixed Income
Fixed Income Market: The bond market was more uncertain than the stock market. Traditional concerns about the economy were more prevalent. The yield on the benchmark 10-year Treasury note (which moves inversely to prices) ended June at 4.34%. It was 4.19% at the end of Match and 3.88% at the end of December. It fluctuated in the trading range of 4.0% to 4.5% for much of the quarter.