The positive momentum gained by fallen angels in the final quarter of 2023 carried over into January, surpassing broad high yield by 56bps. Sector-specific weakness may continue to manifest in ...

We explore the factors that may contribute to 2023 returns, including interest rate policy and its effect on the real economy, bond market expectations, and the impact of the yield curve. Fallen ...

Like other fixed income assets, fallen angel bonds have proven vulnerable to the recent spike in Treasury yields, but those elevated yields could signal an opportunity for patient, risk-tolerant fixed ...