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 Norman P. Boucher, Portfolio Manager, and Paul D. Scanlon, CFA Christian J. Galipeau Katherine Collins, CFA, MTS, Head of Sustainable Investing and Stephanie Henderson, Analyst, Equity Research Shep Perkins, CFA, and Simon Davis Daniel Farrell David L. Glancy Daniel J. Graña Darren A. Jaroch Paul M. Drury, CFA, Portfolio Manager and Garrett L. Hamilton, CFA, Portfolio Manager Putnam Fixed Income Team Gerard P. Sullivan Jason R. Vaillancourt, CFA Jacquelyne J. Cavanaugh Onsel Emre, Ph.D. Jo Anne Ferullo, CFA Joykrishna Mahato Jeffrey B. Sacknowitz Katherine Collins, CFA, MTS D. William Kohli, Michael V. Salm, and Paul D. Scanlon, CFA Michael J. Atkin Matthew F. Beaudry Mike Dullaghan Michael P. Wands, CFA Michael V. Salm Christian J. Galipeau and Brendan T. Murray, Senior Investment Directors; Seamus S. Young, CFA, Investment Director Paul D. Scanlon Putnam Global Asset Allocation Team Putnam Investments Putnam Tax Exempt Fixed Income Team Putnam Portfolio Managers Robert J. Costello III, CFA 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 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