The last 12 months were glory days for many in the credit markets, as corporate bonds racked up double digit returns and defaults dropped amid the improving economy. On the structured side, mortgage-backeds experienced large, perhaps unprecedented waves of volatility in the summer, leading to losses across Wall Street as many players ended up on the wrong side of the fence. The asset-backed world continued as a haven for short, highly rated assets, but not without the occasional blowup that reminded investors of some of the inherent flaws in structured finance technology. Here are the highlights of the year, overlayed against the movement of the 10-year treasury note, as told through the pages of BondWeek.
The Year In Fixed Income: A Look Back
