Is it time to have a look at 'fallen angel' bonds?
Lionel Pernias of Axa Investment Managers
Fixed income investors should be paying close attention to 'Fallen Angels' - these are bonds that are downgraded from BBB- and, as a result, come tumbling out of the investment grade credit market.
As the wind-down in quantitative easing (QE) takes hold, higher yields and credit spreads will make it increasingly difficult for troubled companies clinging to their investment grade status to afford...
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