AUGUST: High-duration fixed income, such as the Barclays Agg, performed well in August due to falling 10-year U.S. Treasury yields. Strong corporate earnings and U.S. economic data provided tailwinds for HY Bonds and Senior Secured Loans.
AUGUST: Upstream and integrated oil companies struggled in August while midstream performance was mixed. MLPs continued their strong run as sentiment has turned more positive. Positive fundamentals drove solid Q2 earnings for many midstream companies.