Inside This Issue—First Quarter 2008
> Market Conditions & Dwight Portfolios
The credit crisis that has been unfolding over the past year or so has had profound and broadening impact on our world, reaching far beyond the financial markets and the securities industry to touch the lives of everyday Americans.
> Credit Crisis Leaves No Sector Unscathed—Fixed Income Sector Review
During the first quarter the corporate bond market continued its negative trend started last year as credit market turmoil reached historic levels. Corporates underperformed duration matched Treasuries by 487 basis points posting a negative 0.15% total return.
Nothing is certain but death, taxes, and financial crises. Periods of relative stability encourage complacency, which can lead to loose lending standards and negligible risk premiums.
Investment Results as of 3/31/08 [login required]
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