Strategic Fixed Income | 3Q2023 Commentary

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Market commentary

During the third quarter of 2023, fixed income investors endured a difficult market with the Bloomberg Aggregate 
Bond Index losing 3.23% as interest rates rose meaningfully on the back of continued hawkishness from the Fed. The rates sell off dragged the year-to-date performance into negative territory with a return of -1.21% for the nine 
months ended September 30.

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