"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 ...

This year, the fallen angel index has decreased by approximately 36% due to rising stars, compared to an increase of 14% due to new fallen angels. Two fallen angels were added in September, adding ...

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, ...