Tech Stocks to Watch and Holiday Party Drama Unfolds
Goldman Sachs traders warn investors to watch out for 'fallen angels' in the tech sector as the new year approaches, highlighting potential opportunities and risks in these stocks.
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Fallen Angels
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Ford's Investment Grade Return Signals a Shift in Market Dynamics
Ford Motor Co.'s credit rating upgrade to investment grade has led to $46.8 billion of debt being removed from junk bond indexes, resulting in the largest monthly decline in the global benchmark of junk debt in 18 years. This upgrade signifies a shift in corporate priorities as companies strengthen their finances amid a potential recession. The decrease in fallen-angel bonds and the expectation of more rising-star upgrades indicate improving credit fundamentals, despite concerns about the economy. Analysts predict that $70 billion to $90 billion of debt will be upgraded to investment grade in 2024, while only $20 billion to $40 billion is expected to be downgraded to high-yield next year.