A Brutal Bond Market

The Bloomberg Aggregate Bond Index was created by Lehman Brothers in the early-1980s to offer investors a benchmark for the investment grade taxable bond market.1 The index is made up of mostly Treasuries, corporates, mortgage-back securities and asset-back securities covering more than 10,000 fixed income securities in total. The Agg is now the benchmark most active fixed income managers measure themselves against. It al...