What started out as a positive quarter for stocks turned quite negative, as investors seemed to worry anew about potential ongoing implications for a higher interest rate environment. Here at home, Value stocks gained back a bit of lost ground over the quarter, while Outside the U.S Value stocks were flat amidst a broader-market selloff. Within fixed income, much of the domestic investment-grade bond market was in the red for the trailing 3- and 12-month periods, though generally narrower credit spreads helped offset the impact of rising rates on corporate bond returns.