FYI: axable bond mutual funds rose for the second straight month in July as the after-effects of the Brexit vote reverberated, and as interest rates ran to historic lows early in the month. Meanwhile, strong June nonfarm payroll data pointed to a higher possibility of a Federal Reserve rate hike by the end of the year, despite the Fed's decision to keep rates unchanged at its July meeting.
General taxable bond funds gained 1.42%, adding to their 1.58% return in June, according to preliminary Lipper Inc. data. That put their year-to-date gain at 7.75%, edging gains of 7.25% by S&P 500 funds and 5.70% by the average U.S. diversified stock fund.
Regards,
Ted
http://www.investors.com/etfs-and-funds/mutual-funds/taxable-bonds-rallied-in-july-but-hints-of-a-rate-hike-linger/
