The rise of fallen angels in 2022

After two years dominated by the pandemic, the world is starting to reopen and could gradually return to something approaching normality this year. Some investors may wish to take advantage of the recent pullback in risk asset markets to consider how to position their portfolios going forward and where to find opportunities within the different asset classes. In fixed income, we think 'fallen angels' could be one of the more attractive areas for 2022. What are fallen angels? If you are unfamiliar with the term, fallen angels are corporate bonds that had investment grade credit ratings ...