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

After outperforming in Q1 by 0.10%, fallen angels underperformed broad high yield by 1.60% in Q2 and now lag by 1.53% YTD. Within Telecom, Embarq had been trading at distressed levels all year but ...

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, ...

Fallen angels underperformed the broad high yield market in October by 0.29%, driven mostly by the rise in rates throughout the month, increasing the YTD underperformance to 2.14%. In October, fallen ...