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High Yield Bond 3Q18

November 14, 2018

“Bull markets don’t die of old age, they die of fright and are most afraid of recession.”  —Sam Stoval, CFRA

“A noticeable period of monetary deceleration, now synchronized globally is consistent with lower, not higher, interest rates.” – Milton Friedman

“Even when conditions seem placid, squalls can appear quite suddenly.” – Randall Forsyth, Barron’s

“Have conviction in what you don’t own” – Barclays

“Given where we are in the cycle, I would rather have seniority.” – Krishna Memani, Oppenheimer

“We’re at the stage of the policy tightening cycle where history suggests a higher likelihood of accidents in financial markets.” – Deutsche Bank

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  • Biblically Responsible Investing

    Investing involves risk, including the potential loss of principal.

    Before investing, carefully consider the fund’s investment objectives, risks, charges, and expenses of the investment company. This and other important information can be found in the fund’s prospectus. To obtain a copy, visit TIMOTHYPLAN.COM or call 800.846.7526. Read each prospectus carefully before investing.

    Because the Timothy Plan Funds do not invest in excluded securities, the Funds may be riskier than other funds that invest in a broader array of securities. There are risks when a fund limits its investments to particular sized companies, and all companies are subject to market risk. The Fund recently experienced significant negative short-term performance due to market volatility associated with the Covid-19 pandemic.

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