Fallen angels underperformed the broad high yield market in October by 0.29%, driven mostly by the rise in rates throughout the month, increasing the YTD underperformance to 2.14%. In October, fallen ...
A fallen angel is a bond downgraded from investment-grade to junk status due to a decline in the issuer's financial stability ...
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 ...