Bond woes hit U.S. mutual funds

The Financial Times reports all of the most widely purchased U.S. mutual funds that hold bonds took a big hit in May, thanks to rising yields.

Read: Bearing up with bonds

“US funds that invest in higher-rated bonds with average maturities of under 10 years lost an average 1.8 per cent in May, marking their worst performance since the depths of the financial crisis in October 2008, according to Lipper, a research group,” the report says.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.