PGIM Short-Term Corporate Bond Fund Q4 2025 Commentary

PGIM Investments46 FollowersFollow5ShareSavePlay(13min)CommentsSummaryShort-term credit, as measured by the Bloomberg 1-5 year Credit Index, outperformed the broader credit market on a total and excess return basis.We continue to hold core overweight positions in the money center banks and in more defensive electric utilities.The Fund outperformed its benchmark, the Bloomberg 1-5 Year US Credit Index, gross of fees.Overall security selection was the largest contributor to the Fund's performance during the period, with selection in U.S. investment grade corporates contributing the most.In 2026, we expect the economy and yields to remain favorable, with strong earnings growth from the S&P 500. Thapana Onphalai/iStock via Getty Images Market Review In Q4, front-end yields on the U.S. Treasury curve fell as a partial government shutdown, delayed data releases—indicating sticky inflation and a weakening labor market—weighed on consumer confidence. The Fed responded with a 25-bp rate cut This article was written byPGIM Investments46 FollowersFollowPGIM Investments, a subsidiary of PFI, is an investment adviser and the investment manager to all PGIM US open-end investment companies and manager or administrator to closed-end investment companies. Note: This account is not managed or monitored by PGIM Investments, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use PGIM Investments' official channels.