Yesterday, the United States Senate voted 55-43, along party lines, to suspend the debt ceiling limit until March 15, 2015.
Last Friday, the Department of Labor released its nonfarm payroll report for the month of January.
In 2013, floating rate bank loans demonstrated a healthy resilience to interest rates during a volatile year for fixed income.
2014 has begun with a decline in global risk assets that is shaking out some of the overwhelming bullish consensus for the year by the collective investment community.
The S&P 500® Index (SPX) staggered through the month of January, declining 3.56% to a January 31 close of 1782.59.
Past performance is not a guarantee of future results.
Virtus Investment Partners provides this communication as a matter of general information. The opinions stated herein are those of the author and not necessarily the opinions of Virtus, its affiliates or its subadvisers. Portfolio managers at Virtus make investment decisions in accordance with specific client guidelines and restrictions. As a result, client accounts may differ in strategy and composition from the information presented herein. Any facts and statistics quoted are from sources believed to be reliable, but they may be incomplete or condensed and we do not guarantee their accuracy. This communication is not an offer or solicitation to purchase or sell any security, and it is not a research report. Individuals should consult with a qualified financial professional before making any investment decisions.