"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 and broad high yield performed relatively in line in August, 1.53% vs 1.59%, with fallen angels trailing the broad market by 1.45% YTD. Weaker employment figures have also lent support ...

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, ...

Fallen angels finished the first half of the year outperforming the broad high yield market, despite underperforming by 0.46% in Q2. In May, Constellation Insurance and Royal Caribbean became the ...