Wider spreads have driven fallen angel yields above 7%, their highest levels since mid-2025. Yields versus broad high yield have narrowed significantly, with ANGL, yielding 6.73%*. Two large fallen ...
Fallen angels outperformed broad high yield by 1.23% in Q2 2026 (3.69% vs. 2.46%), recovering the YTD lead to +0.44%. Paramount and FS KRR contribute to strong Q2 performance. Fallen angel yields of 6 ...
Fallen angels are bonds downgraded from investment grade to high yield, often creating forced selling and potential credit dislocations. Historical data shows fallen angels can recover after downgrade ...