Kurt Kringelis, CFA, CPA, J.D., Senior Portfolio Manager, U.S. Credit

The market has remained remarkably resilient in the face of weaker macro data. With earnings season coming to a close, there is a risk that investors focus more closely on macro and geopolitical headlines but we are inclined for now to give the market the benefit of the doubt again given the muted volatility in spreads this year.

Christine Hurtsellers, CIO Fixed Income

Despite uneven economic growth and the occasional headline risks, global central bank accommodation should continue to support the northward climb of equity and fixed income markets for the balance of 2013. For global investors searching for attractive currency-hedged yields, our bias is to ride the liquidity wave in favor of global credit risk, favoring such sectors investment grade corporates, U.S. non-agency RMBS and CMBS.

Paul Zemsky, CFA, CIO, Multi-Asset Strategies, Derek Sasveld, Head of Asset Allocation, Jon Kaczka, CFA, Asset Allocation Analyst

Improved U.S. economic data in recent weeks suggest that the spring slowdown of recent years may be avoided in 2013. Continued struggles in the euro zone have policy makers rethinking austerity, while growth in the emerging markets – and China, in particular – has been uninspiring.

Christine Hurtsellers, CIO Fixed Income; Mike Mata, Head of Multi-Sector Fixed Income; Matt Toms, Head of U.S. Public Fixed Income

Finding growth in a time of debt is bedeviling the entire global economy. Luckily, highly accommodative central banks worldwide have financial markets climbing and are buying time for policymakers to reconcile the need to grow with the need to spend less. We believe the U.S. will stand as the most credible example of how to accomplish this, buoyed by the strength of the consumer.

Jeff Bakalar, Managing Director and Group Head of the ING Senior Loan Group

The S&P/LSTA Leveraged Loan Index (The "Index") gained a healthy 0.09% for the week, bringing the year-to-date return to 3.13%. The entirety of the week's total return came in the form of interest income, as the average Index bid was essentially unmoved (up 1 bp).

Another week, another series of new record highs for the S&P 500 and DJIA, as mixed economic data wasn’t able to derail the markets from their fourth consecutive week of gains. Developed Europe and Asia also advanced, while emerging markets continued to lag.

Kurt Kringelis, CFA, CPA, J.D., Senior Portfolio Manager, U.S. Credit

The market has remained remarkably resilient in the face of weaker macro data. With earnings season coming to a close, there is a risk that investors focus more closely on macro and geopolitical headlines but we are inclined for now to give the market the benefit of the doubt again given the muted volatility in spreads this year.