Executive summary Not only has U.S. Investment Grade (IG) Credit performed well in the most recent period of rising rates, spreads for the asset class have historically tightened when rates have risen in the past. Sharp and sudden rates movements have historically been most disruptive for IG Credit. However, given the robust market backdrop for IG Credit we believe that additional episodes of spread widening will likely be temporary, a dynamic that will create attractive entry points for investors in the near term. IG Credit has also historically outperformed Treasuries during periods of rising inflation. Slow and steady: IG credit performs well when rate and inflation movements are gradual