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 ...

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 ...

With 10-year Treasury yields having retreated noticeably in recent weeks, there’s a sense that things could be turning for the better in the bond market. Should that sentiment prove accurate, it could ...

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 outperformed the broad high yield market by 0.59% in Q3 (2.99% vs. 2.40%), widening the year-to-date gap to 0.78% (7.84% vs. 7.06%). Credit spreads were notably more stable in Q3, ...