by Jack Fischer.
Fixed income funds realized a return of negative 1.70% on average during the third quarter of 2023, marking the first negative quarterly return since Q3 of last year.Of the 51 Lipper fixed income classifications, only 11 ended the second quarter with gains—down from 23 last quarter.
Taxable bond funds (-1.14%) outperformed tax-exempt bond funds (-3.31%) in quarterly performance for the third consecutive quarter—the last time taxable outperformed tax-exempt in three straight quarters was Q2 through Q4 2020. Tax-exempt bond funds are on pace to log their first back-to-back calendar years with negative returns since 1980 and 1981.
Click here or the Download Full Report link in the upper right-hand column of this page to download the Third Quarter 2023 FundMarket Insight Report: FIXED INCOME FUNDS REALIZE FIRST QUARTERLY LOSS OF 2023—LOAN PARTICIPATION FUNDS REMAIN RESILIENT
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