FHY - Rates Of Change
By Joseph V. Amato, President and Chief Investment Officer - Equities
Why a change of tack at the Fed and credit market volatility may be positive for equities.
For all the headlines generated by the October stock market sell-off, equity investors should note that the real action, in many respects, has been taking place in the fixed-income markets. What happens in bond markets often leads what happens in equity markets, simply because risk-free Treasury markets are the basis for equity analysts' discount rates and credit markets are the lifeblood of the private sector economy.
First,