Spreads on high-yield bonds widened to attractive levels even as the expected corporate default rate has remained subdued.
Uncertainty remained high in the fourth quarter of 2011 as the large macroeconomic challenges that dominated headlines throughout the year continued to weigh on investor confidence. Treasury rates in...
Aaron M. Cooper D. William Kohli Robert J. Kea, CFA Norman P. Boucher, Portfolio Manager, and Paul D. Scanlon, CFA Christian J. Galipeau Simon Davis and Shep Perkins, CFA Daniel Farrell David L. Glancy Daniel J. Graña Darren A. Jaroch David Morgan Putnam Fixed Income Team Ferat Ongoren Gerard P. Sullivan Jason R. Vaillancourt, CFA Jacquelyne J. Cavanaugh Onsel Emre, Ph.D. Joseph P. Joseph Jo Anne Ferullo, CFA Joykrishna Mahato Jeffrey B. Sacknowitz Katherine Collins, CFA, MTS Kevin F. Murphy D. William Kohli, Michael V. Salm, and Paul D. Scanlon, CFA Michael J. Atkin Matthew F. Beaudry Mike Dullaghan Michael V. Salm, Co-Head of Fixed Income; and Brett S. Kozlowski, CFA and Kevin F. Murphy, Portfolio Managers Michael P. Wands, CFA Michael V. Salm Christian J. Galipeau | Brendan T. Murray | Seamus S. Young, CFA, Investment Directors Paul D. Scanlon Putnam Global Asset Allocation Team Putnam Investments Putnam Tax Exempt Fixed Income Team Putnam U.S. Equities Team Putnam Portfolio Managers Robert M. Brookby Robert L. Reynolds Robert L. Salvin Michael V. Salm, Co-Head of Fixed Income, and Brett S. Kozlowski, CFA Sarah A. Marshall Paul D. Scanlon, CFA, Co-Head of Fixed Income | T.L. Tsang, CFA, Analyst Scott C. Sipple Steven W. Curbow Simon Davis Seamus S. Young, CFA Shep Perkins Robert L. Davis, CFA, Analyst, and Simon Davis Vivek Gandhi Walter D. Scully Izzet Yildiz, Ph.D., Analyst | Michael J. Atkin, Portfolio Manager | Jo Anne Ferullo, Senior Investment Director