A fallen angel is a bond downgraded from investment-grade to junk status due to a decline in the issuer's financial stability ...

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 ...

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.

Fallen angel bond strategies are inherently contrarian. Exchange-traded funds like iShares Fallen Angels USD Bond ETF FALN buy bonds precisely when most investors are selling. These types of funds ...

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 ...

Fallen angel high yield bonds provide a distinct value proposition that sets them apart from the broad high yield market. The unique performance drivers of fallen angel bonds (systematically buying ...