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 ...

Junk bonds have had a great year, but going forward, investors may miss the sector’s “fallen angels.” A strong economy and falling interest rates have been a great combination for investors in ...

Fallen angels underperformed the broad high yield market in September by 0.35%. The seven-month drought of fallen angles ended in September as OCI NV and VF Corporation were downgraded to high yield, ...

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, ...