Manufacturing and services growth during April slowed to a seven-month
low, according to preliminary readings of Markit’s purchasing managers’
index (PMI). Orders waned within both sectors, while hiring within
services was particularly weak.
Although global bond yields and interest rates have risen significantly
since the U.S. presidential election, they remain at historically low
levels. In a persistently low, but rising yield environment, investors
naturally wonder how fixed-income investments can continue to deliver
meaningful positive returns.