Over the past five years, the fixed income landscape has undergone a quiet revolution – one that many passive investors have failed to notice, let alone benefit from.
As geopolitical tensions and economic uncertainty have unfortunately intensified in recent history, credit markets have become more dynamic than ever. Ratings agencies have been busy, with a surge in downgrades – so-called “fallen angels” – and a steady stream of upgrades – “rising stars.” These shifts present real opportunities for investors, but only those with the flexibility to act can truly capitalise.
At Rathbones,…
