Investors appear to be turning away from high-quality fixed income, with the Barclays U.S. Aggregate Bond Index suffering its first Q1 decline in seven years. The year-to-date performance of the "Agg" index "shows investors are becoming braver gamblers, betting that gains in the labor and housing markets will finally prompt rising rates and that the Fed will reduce its debt purchases," writes the WSJ. Treasuries comprise 37% of the index.
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