PGIM Investments: The next phase of the bond bull market begins

In many ways, the speed of the global economic recovery has been as breathtaking as the downturn. The pace has already led to an array of divergences. Perhaps most notably, the bond market recovery persists in the face of surging growth and inflation. After taking a beating in the first quarter, the bond market punched back and rebounded in the second quarter. Supportive credit trends and a search for yield look poised to fuel further credit sector outperformance, while volatility should present opportunities to add risk.

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