Bond Market Spotlight: Commercial Mortgage-Backed Securities

Bloomberg US Financial Institutions Index measures the performance of the financial institutions sector of the Bloomberg US Aggregate Bond Index. Bloomberg US Aggregate Bond Index measures the performance of investment grade, fixed-rate taxable bond market and includes government and corporate bonds, agency mortgage-backed, asset-backed and commercial mortgage-backed securities (agency and non-agency). Bloomberg US CMBS Investment Grade Index measures the market of US agency and US non-agency conduit and fusion CMBS. The indexes are unmanaged, include net reinvested dividends, do not reflect fees or expenses (which would lower the return) and are not available for direct investment. Index data source: Bloomberg Index Services Limited. See diamond-hill.com/disclosures for a full copy of the disclaimer.

As of 28 February 2023, Diamond Hill owned debt in Huntington Bancshares Inc., Citizens Bank NA, JPMorgan Chase & Co., Apple Inc., Amazon.com Inc. and Walmart Inc.

The views expressed are those of the speakers as of May 2023 and are subject to change without notice. These opinions are not intended to be a forecast of future events, a guarantee of future results or investment advice. Investing involves risk, including the possible loss of principal. Past performance is not a guarantee of future results.