Just seven short weeks ago, the floating-rate loan market was standing tall with a 4.0% year-to-date return through October. Not only were loans on pace for the 5%+ calendar year mark that many anticipated, they had performed with remarkably low volatility and a performance profile that trumped all major asset classes.

We've managed client assets in floating-rate corporate loan strategies since 1989. Our longest-running fund will surpass its 30-year mark in 2019. Along the way, we've developed deep expertise in this asset class. Today we manage more than $45 billion in floating-rate corporate loan assets, for clients all around the globe and in every discernible delivery format.

Bond prices fall as interest rates rise, and this year has proven to be a downright case study. Why? The Federal Reserve has remained on its unwavering course to normalize interest rates from their still-low levels.

With the U.S. economy humming and corporate fundamentals on solid footing, it's perhaps little surprise that markets have been cooperative this year. Investor sentiment remains strong and this has fueled higher-still stock prices, which of course is further supporting positive sentiment. It's a bull market.