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 ...

After essentially completing a market cycle in just three quarters in 2020, high yield spreads are back below historical averages and yields are as low as they’ve ever been. High yield investors may ...