BNDX - Rising Stars Set To Soar

• Rising Star volume gains momentum as the global economy continues its recovery, which we believe will provide attractive total return opportunity in Fixed Income.
• Over the course of 2020, as the COVID-19 pandemic adversely impacted fundamentals and markets, we experienced a new record $184 billion in Fallen Angels, which migrated from Investment Grade into High Yield.
• We believe this is just the beginning of a new trend, with Rising Star candidates over the next two years at approximately $250 billion based on our bottom-up research views across Global Fixed Income research teams.

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