Is it time to have a look at 'fallen angel' bonds?

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 refinancing, leaving them more vulnerable to credit deterioration.  For a portfolio that blindly follows an index, this is a particularly difficult scenario to navigate. If it is not constructed to deal with this kind of event, it could be forced to sell any bond that ventures out of the investment grade category. AXA IM unveils Global Short Duration Bond fund With many strategies tak...