TY - JOUR T1 - Practical Applications of The Aftermath of Investment-Grade Distress JF - Practical Applications SP - 1 LP - 3 DO - 10.3905/pa.2013.1.2.009 VL - 1 IS - 2 AU - Ariel Edelstein AU - Bruce D. Phelps A2 - Connett, Wendy Y1 - 2013/10/31 UR - https://pm-research.com/content/1/2/1.9.abstract N2 - The Aftermath of Investment-Grade Distress Ariel Edelstein Bruce D. Phelps Portfolio managers must make a critical decision when investment-grade bonds begin to trade at distressed levels: Sell, hold or buy. The Aftermath of Investment-Grade Distress , which was published in the Fall 2012 issue of The Journal of Portfolio Management , aims to help portfolio managers make an objective decision.The research was conducted to help portfolio managers assess a very unpleasant situation they often find themselves in—when bonds become distressed—explains co-author Bruce D. Phelps, Managing Director at Barclays Capital in New York. The article, co-authored by Ariel Edelstein, former Vice President at Barclays, gives much-needed analysis of the performance of distressed investment-grade (DIG) bonds. The authors examine the historical evidence of the performance of DIGs after their distress month.This Practical Applications report, which is based on an exclusive interview with Phelps, outlines a framework that portfolio managers can use to make an objective decision regarding these portfolio holdings. ER -