High-grade deals priced and secondary trading showed bonds exchanging hands at yields higher than triple-A benchmarks in some cases, but a healthy two-way flow was evident, even if there are signals that yields have not yet found a ceiling.
Operator
Welcome to Franklin Resources Earnings Conference Call for the Quarter Ended December 31, 2020. My name is Vishay [Phonetic] and I will be your operator call operator today.
Statements made on this conference call regarding Franklin Resources, Inc., which are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from any future results expressed or implied by such forward-looking statements. These and other risks, uncertainties and other important factors are described in more detail in Franklin s recent filings with the Security and Exchange Commission, including the risk factors and MD&A section of Franklin s most recent Form 10-K and 10-Q filings. [Operator Instructions]
U.S. stocks booked modest losses Monday, but were still near record territory, as investors focused on the prospects for economic recovery under the incoming Biden administration.
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