White Papers

Amid Corporate Bond Market Challenges, Achieving Sponsor LDI Objectives Using Custom Benchmarks.

Should rates begin to rise, the supply of high-quality, long-duration credit may be insufficient to meet growing LDI demand. Declining fundamentals and liquidity in the corporate bond market are creating additional concerns for plan sponsors. We examine these dynamics and discuss how they interact with our custom liability benchmark methodology.

Authors

David Tiberii, CFA, Lead Portfolio Manager, T. Rowe Price US Long Duration Credit Bond Strategy and US Investment Grade Corporate Bond Strategy; and, Justin Harvey, ASA, CFA, Fixed Income Solutions Strategist

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