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 ...
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, ...