2024-04-18 12:20:00 ET
Summary
- In March, fallen angels outperformed the broad high yield market.
- The majority of the outperformance can be attributed to tighter credit spreads.
- Although bond yields remain elevated, and we expect to continue to see bouts of rate volatility, we generally expect long-term yields to be range bound over the next year or so.
Fallen angels outperformed broad high yield by 0.24% in March and 0.10% YTD, due in part, to tighter spreads. Q1 2024 saw two fallen angels and two rising stars. ...
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Spreads In Control