Concerns about Europe and slowing IT spending in North America were central in Nomura’s decision to trim estimates for numerous software companies on Monday. One analyst said that while the sector is suffering, they may be safe haven for investors.
In a slow growth economy, corporate bonds will hold their own against equities, Mark Kiesel, Pimco’s global head of corporate bond management and manager of its Investment Grade Corporate Bond Fund told CNBC.
Stocks rallied Tuesday amid optimism that the Federal Reserve will announce further steps to help the economy following their two-day meeting, but finished off session highs after reports that a German official said there were no plans to use the EU's rescue fund to buy bonds of troubled countries.