| Starting Yield Curve Slope |
|---|
| Less than zero |
| Between 0 and 100 basis points |
| Between 100 and 200 basis points |
| Above 200 basis points |
Disclosure Title
Source
Disclosure
Bloomberg. Relative returns compare the average 52-week total returns of the Bloomberg U.S. Corporate High-Yield Bond Index and the Bloomberg U.S. Treasury 3-5 Year Index depending on the starting slope of the 3-month/10-year Treasury yield curve, using monthly data from January 1994 through October 2021. One basis point is equal to 1/100th of 1%, or 0.01%, or 0.0001. Past performance is no guarantee of future results.