"Fallen angels" are corporate bonds that received investment-grade credit ratings when they were issued but have since been downgraded to junk. Historically, they have tended to exhibit greater ...
Fallen angels underperformed the broad high yield market in September by 0.35%. The seven-month drought of fallen angles ended in September as OCI NV and VF Corporation were downgraded to high yield, ...
2024 returns will likely be driven by carry, with sector and quality differences driving potential outperformance versus broad high yield. An uptick in fallen angels may provide further support. Last, ...
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