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, ...

We assess the performance of FAs since Covid using the FTSE Time-Weighted Fallen Angel Bond Index (TWUSFA), which captures critical timing effects. We find a more favourable risk/return profile in FAs ...

Noël Coward’s delightful, rarely produced 1925 comedy Fallen Angels is the sort of Broadway fare that gives critics ample reason to use descriptors like “fizzy” and “intoxicating” and “dizzying,” all ...