Image alt tag

Error!

There was a problem contacting the server. Please try after sometime.

Sorry, we are unable to process your request.

Error!

We're sorry, but the Insights and Intelligence Tool is temporarily unavailable

If this problem persists, or if you need immediate assistance, please contact Customer Service at 1-888-522-2388.

Error!

We're sorry, but the Literature Center checkout function is temporarily unavailable.

If this problem persists, or if you need immediate assistance, please contact Customer Service at 1-888-522-2388.

Tracked Funds

You have 0 funds on your mutual fund watch list.

Begin by selecting funds to create a personalized watch list.

(as of 12/05/2015)

Pending Orders

You have 0 items in your cart.

Subscribe and order forms, fact sheets, presentations, and other documents that can help advisers grow their business.

A verification Email Has Been Sent

An email verification email has been sent to .
Follow the instructions to complete the email validation process.

I have not received my verification email

Check your SPAM mailbox and make sure that twelcome@lordabbett.com is allowed to send you mail.

I'm still having trouble

If you're still having trouble verifying your email address. feel free to contact us.

1-888-522-2388
clientservices@lordabbett.com


OK

We're sorry. We found no record of the email address you provided.

Register For a LordAbbett.com Account
Using Your Email Address.

  • Registered Financial Advisors gain access to:
  • Our data mining tool, Insight & Intelligence
  • Best in-class practice management content
  • Educational events, videos and podcasts.
  • The Lord Abbett Review - Subscribe now!

Registered but Having Problems?

If you believe you are registered and are having problems verifying your email address, feel free to contact us.

1-888-522-2388 clientservices@lordabbett.com

Terms & Condition

These Terms of Use ("Terms of Use") are made between the undersigned user ("you") and Lord, Abbett & Co. ("we" or "us"). They become effective on the date that you electronically execute these Terms of Use ("Effective Date").

A. You are a successful financial consultant that markets securities, including the Lord Abbett Family of Funds;

B. We have developed the Lord Abbett Intelligence System (the "Intelligence System"), a state of the art information resource that we make available to a limited community of broker/dealers through the Internet at a secure Web site (the "LAIS Site"); and

C. We wish to provide access to the Intelligence System to you as an information tool responsive to the demands of your successful business pursuant to these Terms of Use. Accordingly, you and we, intending to be legally bound, hereby agree as follows:]

1. Overview. · Scope. These Terms of Use (which we may amend from time to time) govern your use of the Intelligence System. · Revisions; Changes. We may amend these Terms of Use at any time by posting amended Terms of Use ("Amended Terms of Use") on the LAIS Site. Any Amended Terms of Use will become effective immediately upon posting. Your use of the Intelligence System after any Amended Terms of Use become effective will be deemed to constitute your acceptance of those Amended Terms of Use.We may modify or discontinue the Intelligence System at any time, temporarily or permanently, with or without notice to you. Purpose of the Intelligence System. The Intelligence System is intended to be an information resource that you may use to contribute to your business research. The Intelligence System is for broker/dealer use only; it is not to be used with the public in oral, written or electronic form. The information on the Intelligence System and LAIS Site is for your information only and is neither the tax, legal or investment advice of Lord Abbett or its third-party sources nor their recommendation to purchase or sell any security.

2. Your Privileges. · Personal Use. Your use of the Intelligence System is a nontransferable privilege granted by us to you and that we may deny, suspend or revoke at any time, with or without cause or notice. · Access to and Use of the Intelligence System. The User ID and password (together, an "Access ID") issued by us to you (as subsequently changed by you from time to time) is for your exclusive access to and use of the Intelligence System. You will: (a) be responsible for the security and use of your Access ID, (b) not disclose your Access ID to anyone and (c) not permit anyone to use your Access ID. Any access or use of the Intelligence System through the use of your Access ID will be deemed to be your actions, for which you will be responsible. · Required Technology. You must provide, at your own cost and expense, the equipment and services necessary to access and use the Intelligence System. At any time, we may change the supporting technology and services necessary to use the Intelligence System. · Availability. We make no guarantee that you will be able to access the Intelligence System at any given time or that your access will be uninterrupted, error-free or free from unauthorized security breaches.

3. Rights in Data. Our use of information collected from you will be in accordance with our Privacy Policy posted on the LAIS Site. Our compliance with our Privacy Policy will survive any termination of these Terms of Use or of your use of the Intelligence System.

4. Your Conduct in the Use of the Intelligence System. You may access, search, view and store a personal copy of the information contained on the LAIS Site for your use as a broker/dealer. Any other use by you of the Intelligence System and the information contained on the LAIS Site these Terms of Use is strictly prohibited. Without limiting the preceding sentence, you will not: · Engage in or permit any reproduction, copying, translation, modification, adaptation, creation of derivative works from, distribution, transmission, transfer, republication, compilation or decompilation, reverse engineering, display, removal or deletion of the Intelligence System, any portion thereof, or any data, content or information provided by us or any of our third-party sources in any form, media or technology now existing or hereafter developed, that is not specifically authorized under these Terms of Use.

· Remove, obscure or alter any notice, disclaimer or other disclosure affixed to or contained within the Intelligence System, including any copyright notice, trademark and other proprietary rights notices and any legal notices regarding the data, content or information provided through the Intelligence System.

· Create a hyperlink to, frame or use framing techniques to enclose any information found anywhere on the LAIS Site without our express prior written consent.

· Impersonate any person, or falsely state or otherwise misrepresent his or her affiliation with any person in connection with any use of the Intelligence System.

· Breach or attempt to breach the security of the Intelligence System or any network, servers, data, or computers or other hardware relating to or used in connection with the Intelligence System; nor (b) use or distribute through the Intelligence System software or other tools or devices designed to interfere with or compromise the privacy, security or use of the Intelligence System by others or the operations or assets of any person.

· Violate any applicable law, including, without limitation, any state federal securities laws. 5. Your Representations and Warranties. You hereby represent and warrant to us, for our benefit, as of the time of these Terms of Use and for so long as you continue to use the Intelligence System, that (a) you are, and will continue to be, in compliance with these Terms of Use and any applicable laws and (b) you are authorized to provide to us the information we collect, as described in our Privacy Policy.

6. Disclaimer of Warranties.

· General Disclaimers.

THE INTELLIGENCE SYSTEM, THE LAIS SITE AND ALL DATA, INFORMATION AND CONTENT ON THE LAIS SITE ARE PROVIDED "AS IS" AND “AS AVAILABLE” AND WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND. WITHOUT LIMITING THE PRECEDING SENTENCE, LORD ABBETT, ITS AFFILIATES, AGENTS, THIRD-PARTY SUPPLIERS AND LICENSORS, AND THEIR RESPECTIVE EMPLOYEES, CONTRACTORS, DIRECTORS, OFFICERS AND SHAREHOLDERS (COLLECTIVELY, THE “LORD ABBETT GROUP”) EXPRESSLY DISCLAIM ALL WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, AND NONINFRINGEMENT. YOU EXPRESSLY AGREE THAT YOUR USE OF THE LAIS SITE, THE INTELLIGENCE SYSTEM, AND THE DATA, INFORMATION AND CONTENT PRESENTED THERE ARE AT YOUR SOLE RISK AND THAT THE LORD ABBETT GROUP WILL NOT BE RESPONSIBLE FOR ANY (A) ERRORS OR INACCURACIES IN THE DATA, CONTENT AND INFORMATION ON THE LAIS SITE AND THE INTELLIGENCE SYSTEM OR (B) ANY TERMINATION, SUSPENSION, INTERRUPTION OF SERVICES, OR DELAYS IN THE OPERATION OF THE LAIS SITE OR THE INTELLIGENCE SYSTEM.

· Disclaimer Regarding Investment Research.

THE INTELLIGENCE SYSTEM INCORPORATES DATA, CONTENT AND INFORMATION FROM VARIOUS SOURCES THAT WE BELIEVE TO BE ACCURATE AND RELIABLE. HOWEVER, THE LORD ABBETT GROUP MAKES NO CLAIMS, REPRESENTATIONS OR WARRANTIES AS TO THE ACCURACY, TIMELINESS, COMPLETENESS OR TRUTHFULNESS OF SUCH DATA, CONTENT AND INFORMATION. YOU EXPRESSLY AGREE THAT YOU ARE RESPONSIBLE FOR INDEPENDENTLY VERIFYING YOUR INVESTMENT RESEARCH PRIOR TO FORMING YOUR INVESTMENT DECISIONS OR RENDERING INVESTMENT ADVICE. THE LORD ABBETT GROUP WILL NOT BE LIABLE FOR ANY INVESTMENT DECISION MADE BY YOU OR ANY OTHER PERSON BASED UPON THE DATA, CONTENT AND INFORMATION PROVIDED THROUGH THE INTELLIGENCE SYSTEM OR ON THE LAIS SITE.

· Survival.

THIS SECTION 6 SHALL SURVIVE ANY TERMINATION OF THESE TERMS OF USE OR YOUR USE OF THE INTELLIGENCE SYSTEM..

7. Limitations on Liability.

NONE OF THE MEMBERS OF THE LORD ABBETT GROUP WILL BE LIABLE TO YOU OR ANY OTHER PERSON FOR ANY DIRECT, INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, SPECIAL OR EXEMPLARY DAMAGES (INCLUDING LOSS OF PROFITS, LOSS OF USE, TRANSACTION LOSSES, OPPORTUNITY COSTS, LOSS OF DATA, OR INTERRUPTION OF BUSINESS) RESULTING FROM, ARISING OUT OF OR IN ANY WAY RELATING TO THE INTELLIGENCE SYSTEM, THE LAIS SITE OR YOUR USE THEREOF, EVEN IF THE LORD ABBETT GROUP HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THIS SECTION 7 WILL SURVIVE ANY TERMINATION OF THESE TERMS OF USE OR YOUR USE OF THE INTELLIGENCE SYSTEM.

8. Miscellaneous Provisions.

· Governing Law. This Agreement will governed by and construed in accordance with the laws of the State of New York, without giving effect to applicable conflicts of law principles.

THE UNIFORM COMPUTER INFORMATION TRANSACTIONS ACT OR ANY VERSION THEREOF, ADOPTED BY ANY STATE, IN ANY FORM ("UCITA") WILL NOT APPLY TO THESE TERMS OF USE. TO THE EXTENT THAT UCITA IS APPLICABLE, THE PARTIES HEREBY AGREE TO OPT OUT OF THE APPLICABILITY OF UCITA PURSUANT TO THE OPT-OUT PROVISION(S) CONTAINED THEREIN.

The Intelligence System is not intended to be used by consumers, nor are the consumer protection laws of any jurisdiction intended to apply to the Intelligence System. You agree to initiate and maintain any action, suit or proceeding relating to these Terms of Use or arising out of the use of the Intelligence System exclusively in the courts, state and federal, located in or having jurisdiction over New York County, New York.

YOU HEREBY CONSENT TO THE PERSONAL JURISDICTION AND VENUE OF THE COURTS, STATE AND FEDERAL, LOCATED IN OR HAVING JURISDICTION OVER NEW YORK COUNTY, NEW YORK. YOU AGREE THAT YOU WILL NOT OBJECT TO A PROCEEDING BROUGHT IN YOUR LOCAL JURISDICTION TO ENFORCE AN ORDER OR JUDGMENT OBTAINED IN NEW YORK.

· Relationship of Parties. The parties to these Terms of Use are independent contractors and nothing in these Terms of Use will be construed as creating an employment relationship, joint venture, partnership, agency or fiduciary relationship between the parties.

· Notice. All notices provided under these Terms of Use will be in writing and will be deemed effective: (a) when delivered personally, (b) when received by electronic delivery, (c) one business day after deposit with a commercial overnight carrier specifying next day delivery, with written verification of receipt, or (d) three business days after having been sent by registered or certified mail, return receipt requested. We will only accept notices from you in English and by conventional mail addressed to: General Counsel Lord, Abbett & Co. 90 Hudson Street Jersey City, N.J. 07302-3973 We may give you notice by conventional mail or electronic mail addressed to the last mail or electronic mail address transmitted by you to us.

· Third-Party Beneficiaries. The members of the Lord Abbett Group are third-party beneficiaries of the rights and benefits provided to us under these Terms of Use. You understand and agree that any right or benefit available to us or any member of the Lord Abbett Group hereunder will also be deemed to accrue to the benefit of, and may be exercised directly by, any member of the Lord Abbett Group to the extent applicable.

· Survival. This Section 8 will survive any termination of these Terms of Use or your use of the Intelligence System. The undersigned hereby signs these Terms of Use. By electronically signing and clicking "Accept" below, these Terms of Use will be legally binding on me. To sign these Terms of Use, confirm your full name and enter your User ID and Password (as your electronic signature) in the fields indicated below and click the “I Accept” button.

Reset Your Password

Financial Professionals*

Your password must be a minimum of characters.

Confirmation Message

Your LordAbbett.com password was successully updated. This page will be refreshed after 3 seconds.

OK

 

Market View

Investors can expect some headwinds, but there's no lack of potential opportunity in the fixed-income markets.

 

In Brief

  • What might fixed-income investors expect for the balance of 2017? We asked Lord Abbett investment professionals for their views.
  • For U.S. investment-grade bonds, Timothy Paulson, Lord Abbett investment strategist, noted that while underlying economic and earnings fundamentals remain strong, there are potential headwinds underneath the “placid surface of low volatility,” including the potential for increased corporate leverage and stress among traditional retailers. 
  • In the area of U.S. high-yield bonds and bank loans, Brian Arsenault, Lord Abbett investment strategist, commented on the outlook for lower default rates and a general improvement in credit quality.  
  • In emerging markets, John Morton, Lord Abbett portfolio manager, noted the support provided by an improving global economy, and added that there is less concern over China’s near-term economic prospects.
  • For municipal bonds, Daniel Solender, Lord Abbett partner and director, cited the improving U.S. economy as a positive factor for municipals, and noted that isolated credit concerns (e.g., Puerto Rico and Illinois) have not affected the market overall.  

 

With the first half of 2017 drawing to a close, what should fixed-income investors be watching for in the second half? What follows are insights on what we might expect from the U.S. investment-grade, U.S. leveraged-loan, emerging-market, and municipal-bond asset classes provided by, respectively, Timothy Paulson, Lord Abbett investment strategist, fixed income; Brian Arsenault, Lord Abbett investment strategist, leveraged credit; John Morton, Lord Abbett portfolio manager, Emerging Market Corporate Debt Fund; and Daniel Solender, Lord Abbett partner and director, municipal bond strategies.

U.S. Investment Grade: Potential Headwinds and Opportunities
The broad reflation trade (i.e., favoring assets likely to benefit from rising growth and inflation) that began after Great Britain’s decision to exit the European Union, and that accelerated following the U.S. election last November, almost fully reversed itself in the second quarter of 2017, when investors began to reassess the outlook for inflation, according to Paulson. Triggering the reassessment, Paulson noted, was a combination of declining oil prices, stalled implementation of some of the U.S. administration’s policy measures, and consecutive months of below-expectation CPI (Consumer Price Index) reports. “This fluctuation of inflation expectations was the primary driver of movements in interest rates during the first half of 2017; in fact, the recent drop in rates coincided almost perfectly with a commensurate drop in the outlook for inflation,” Paulson said.  

Interestingly, while risk assets (including equities and credit) traded in sync with inflation expectations a year ago, they have continued to trend higher during this recent pullback in inflation, Paulson further noted. Contributing to this performance, he said, are the continued strength in economic fundamentals, both domestically and internationally, and a “lowering of various market fears, such as the implications of an extremist win in the recent French election.”

Paulson continued by saying that, “Looking at the second half of 2017, while we are still broadly constructive on credit, we do see some potential headwinds. Extended time in this low-volatility, low-rate environment is likely to result in growing leverage on certain corporate balance sheets—whether from acquisitions or from repurchases of shares. Also, we seem to have passed peak auto sales, and aspects of the auto industry are vulnerable to declining auto prices and sales volumes.”

Finally, much has been made of the stress among traditional retailers, Paulson further noted. “We think this will have important implications for investment-grade credit as well as for a variety of other asset classes, including high-yield, bank loans, and commercial mortgage-backed securities,” he said. “So there are some disturbances underneath this placid surface of low volatility. Nonetheless, we believe those disturbances will create excellent opportunities for active management.”

U.S. High Yield and Bank Loans: Lower Default Rates and Higher Quality
The U.S. high-yield market offered solid performance in the first half of 2017, coming off a strong rally in 2016, according to Arsenault. The BofA Merrill Lynch U.S. High Yield Constrained Index (“High-Yield Index”) posted returns near 5% in the first six months of 2017, with ‘CCC’ rated issuers again leading the way, with a total return near 6.25%. Floating-rate loan returns were more tempered, Arsenault noted, but, as in high yield, ‘CCC’ rated credits also were leading in the loan market. The Credit Suisse Leveraged Loan Index was up almost 2% in the first half of 2017, with ‘CCC’ rated issuers up a little more than 4%. “A huge wave of repricings in the first half of the year kept a lid on total returns in the loan space,” Arsenault said.

Now with regard to the second half of the year, Arsenault said Lord Abbett’s leveraged-credit group maintains a constructive view toward the leveraged-credit markets. “Thanks to solid economic growth in the United States and abroad, we expect default rates to continue to trend lower,” Arsenault said. “Due to relatively attractive valuations and our view on default rates, we believe a case can be made for remaining overweight ‘CCC’ rated issuers in both high-yield and floating-rate strategies.” Within the high-yield market, the leveraged-credit group continues to believe that spreads can grind tighter from current valuations down toward +350, “which is the tightest spread level we have seen post the financial crisis [of 2008–09],” Arsenault noted.

In addition to improving fundamentals, the high-yield market is of much higher quality than it has been in recent history, Arsenault further noted. “Thanks to improving trends in issuance and weaker credits being flushed out in the default wave of 2016,” Arsenault pointed out, “almost 50% of the High-Yield Index is ‘BB’ rated.” Of course, these observations imply no guarantee for the future. In the leveraged-loan market, “we believe the potential to generate modestly positive returns over the balance of the year still exists, while we acknowledge that repricings in the first half of 2017 have trimmed the market’s coupon,” Arsenault concluded.

Emerging Market Corporate Debt: Improving Global Outlook
The positive momentum in emerging-market (EM) corporate debt markets continued in the first half of 2017, supported by improving fundamentals among EM economies and strong technical factors, according to Morton. The anticipated risks from U.S. fiscal policies, European political uncertainty, and higher interest rates have not materialized, leading to low volatility and stable performance.

What about the second half of the year? “We think the global macroeconomic environment remains very supportive for emerging-market assets, given the fading effects on the global economy from the developed-market slowdown and the recent uptick in emerging-market demand,” Morton said. Recent readings on closely followed business sentiment data are encouraging for the global economic outlook, Morton added. “Nonetheless, we await further ‘hard’ data to confirm trends seen in the sentiment indicators.”

Morton believes there is less cause for concern over China’s near-term prospects; economic growth could turn out to be higher than expected, given rising corporate profits and exports, which tend to boost investment over time, and “the construction sector remains surprisingly resilient,” he said. “Our base-case scenario is that the ruling Communist party will be very cautious and move slowly with future reforms at its upcoming congress [this autumn], so as to not disrupt the economy.”

Morton’s forecast of EM fundamentals remains cautiously optimistic. Economic prospects are positive, he said, due to:

  • Ongoing or pending structural reforms, especially in Mexico, Argentina, Brazil, and India;
  • Past external adjustments, including pension reforms, standardization of tax regimes, and energy sector liberalization;
  • A pickup in commodity prices; and
  • Expectations of gradual U.S. monetary tightening.

In terms of specific debt sectors, Morton believes that Latin America provides more potential for outperformance than other regions. “In our view, the Asian high-yield sector and the Middle East may be poised to underperform.”

Municipal Bonds: Supported by a Stronger Economy
After a strong first half of 2017, Solender believes the municipal bond market is well positioned for the second half. On the supply side, new bond supply was lower in the first six months of the year than in the comparable 2016 period, according to The Bond Buyer, with fewer outstanding bonds being refunded. “Looking ahead, with interest rates still low, the pace of supply may increase somewhat but not too much for the market to absorb,” Solender said.

On the demand side, individual investors were positive on the asset class, with approximately $6 billion of new flows into municipal bond mutual funds in the first half of 2017, according to Lipper. High-yield funds saw the largest demand. There also was strong demand from retail investors through separately managed accounts and individual bonds for maturities shorter than 10 years, Solender noted. This caused ratios of municipal bond to Treasury yields to fall to low levels in maturities out to five years, while ratios of longer-maturity bonds have stayed higher.

Meanwhile, many of last year’s concerns following the U.S. presidential election have not had a negative impact so far, according to Solender. “The new administration’s agenda includes lowering income tax rates and increasing infrastructure spending, which could lower tax-equivalent yields and increase supply,” he said. “But since Congress has been preoccupied with passing the new healthcare act, progress on tax reform and infrastructure is being pushed into the future. With the lack of consensus on infrastructure planning and tax reform, in particular, we believe that potential changes are likely to be smaller than previously expected.”

Municipal bond credit has performed well so far in 2017, with the steadily growing economy at its back. Overall, the municipal bond market has had positive returns across all maturity and credit-quality indexes, Solender noted. The lower-quality sectors, including high yield, have outperformed higher quality.

Finally, on the negative, albeit more isolated, concerns in the credit headlines, Puerto Rico and Illinois have not yet solved their respective debt dilemmas. “Puerto Rico’s conflicts are being slowly decided by a judge, while politicians in Illinois negotiate toward an uncertain budget compromise, with the timing uncertain,” Solender said. “The market has performed well despite these individual credit concerns, because other issuers are more successfully handling their financial situations.”

What Are the Risks?
While there are potential investment opportunities in the second half of the year, all investments involve risks, including possible loss of principal. The bond market itself is volatile, and fixed-income securities carry interest-rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Investing in the bond market is subject to other risks as well, including market, issuer, credit, inflation, and liquidity risk.

High-yield, lower-rated securities involve greater risk than higher-rated securities; for example, they may be subject to greater levels of credit and liquidity risk. Moreover, the specific collateral used to secure a bank loan may decline in value or become illiquid, which would adversely affect the loan's value. And leverage, including borrowing for investment purposes, may increase volatility by magnifying the effect of changes in the value of an investment.

International investing also involves risks, including risks related to currency fluctuations, limited liquidity, less government regulation, and the possibility of substantial volatility due to adverse political, economic, or other developments. These risks are often heightened for investments in emerging/developing markets or smaller capital markets.

The municipal market can be affected by adverse tax, legislative, or political changes, and by the financial condition of the issuers of municipal securities. Income from municipal bonds may be subject to the alternative minimum tax. Federal, state, and local taxes also may apply. And, as we’ve seen most recently, investments in Puerto Rico and other territories, commonwealths, and possessions may be affected by local, state, and regional factors. These may include, for example, economic or political developments, erosion of the tax base, and the possibility of credit problems.

Investors should consult with their financial advisors regarding the risks and opportunities described in each of the above asset classes.

Coming in the next Market View: our outlook for the equity markets in the second half of 2017.

 

This commentary may contain assumptions that are “forward-looking statements,” which are based on certain assumptions of future events. Actual events are difficult to predict and may differ from those assumed. There can be no assurance that forward-looking statements will materialize or that actual returns or results will not be materially different from those described here.

Forecasts and projections are based on current market conditions and are subject to change without notice. Projections should not be considered a guarantee. There is no guarantee that markets will perform in a similar manner under similar conditions in the future.

The Consumer Price Index (CPI) is a comprehensive measure used for estimation of price changes in a basket of goods and services representative of consumption.

The BofA Merrill Lynch U.S. High Yield Constrained Index is a capitalization‐weighted index of all US dollar denominated below investment grade corporate debt publicly issued in the US domestic market.

Source Merrill Lynch, Pierce, Fenner & Smith Incorporated (“BofAML”), used with permission. BofAML PERMITS USE OF THE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD, ABBETT & CO. LLC, OR ANY OF ITS PRODUCTS OR SERVICES.

The Credit Suisse Leveraged Loan Index is designed to mirror the investable universe of the U.S. dollar-denominated leveraged loan market. The CS Leveraged Loan Index, which includes reinvested dividends, has been taken from published sources.

Index performance is shown for illustrative purposed only. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. Past performance is not a reliable indicator or a guarantee of future results.

The credit quality of the securities in a portfolio is assigned by a nationally recognized statistical rating organization (NRSRO), such as Standard & Poor's, Moody's, or Fitch, as an indication of an issuer's creditworthiness. Ratings range from ‘AAA’ (highest) to ‘D’ (lowest). Bonds rated ‘BBB’ or above are considered investment grade. Credit ratings ‘BB’ and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities.

The information provided is not directed at any investor or category of investors and is provided solely as general information about Lord Abbett’s products and services and to otherwise provide general investment education. None of the information provided should be regarded as a suggestion to engage in or refrain from any investment-related course of action as neither Lord Abbett nor its affiliates are undertaking to provide impartial investment advice, act as an impartial adviser, or give advice in a fiduciary capacity. If you are an individual retirement investor, contact your financial advisor or other fiduciary about whether any given investment idea, strategy, product or service may be appropriate for your circumstances.

The opinions in Market View are as of the date of publication and subject to change based on subsequent developments and may not reflect the views of the firm as a whole. This material is not intended to be legal or tax advice and is not to be relied upon as a forecast, or research or investment advice regarding a particular investment or the markets in general, nor is it intended to predict or depict performance of any investment. Investors should not assume that investments in the securities and/or sectors described were or will be profitable. This document is prepared based on information Lord Abbett deems reliable; however, Lord Abbett does not warrant the accuracy or completeness of the information. Investors should consult with a financial advisor prior to making an investment decision.

MARKET VIEW PDFs


  Market View
  U.S. Market Monitor

FEATURED EXPERTS

RELATED FUND
The Lord Abbett High Yield Fund has offered a track record of strong performance versus peers in up and down markets. Learn more.
RELATED FUND
The Lord Abbett Total Return Fund has a track record of generating above-average returns with below-average risk in a variety of market environments.
RELATED FUND
The Lord Abbett Emerging Markets Corporate Debt mutual fund seeks to deliver current income and long-term growth of capital. View portfolio and more.
RELATED FUND
The Lord Abbett High Yield Municipal Bond mutual fund seeks to deliver income exempt from federal income tax by investing in lower-rated municipal bonds.

Please confirm your literature shipping address

Please review the address information below and make any necessary changes.

All literature orders will be shipped to the address that you enter below. This information can be edited at any time.

Current Literature Shipping Address

* Required field