``This marks a significant shift in the interest rate outlook,'' says William Sullivan, director of money market research at Dean Witter Reynolds Inc., New York. Any sustained credit-easing could be a lift for junk bonds as well as other securities.
there is any fundamental economic rationale for the junk bond rout
Robert Dow, a partner and portfolio manager at Lord, Abbett & Co., which manages $4 billion of high-yield bonds, says he doesn't think there is any fundamental economic rationale for the junk bond rout.
``This marks a significant shift in the interest rate outlook,'' says William Sullivan, director of money market research at Dean Witter Reynolds Inc., New York. Any sustained credit-easing could be a lift for junk bonds as well as other securities.</s>Robert Dow, a partner and portfolio manager at Lord, Abbett & Co., which manages $4 billion of high-yield bonds, says he doesn't think there is any fundamental economic rationale for the junk bond rout.</s>there is any fundamental economic rationale for the junk bond rout