The markets rallied this afternoon after the Federal Reserve announced it would not be raising interest rates this quarter. The Dow surged over 100 points, with the Nasdaq and S&P 500 having rallies of their own. On “Closing Call,” CNBC's Maria Bartiromo asked a bond fund manager and a chief investment officer for their take on the year ahead in trading.
John Miller is the portfolio manager of the Nuveen High Yield Municipal Bond Fund at Nuveen Investments. He says there has been a sell off in the bond market over the past few months despite the stronger economy. On the positive side, inflation concerns are receding, so he sees no reason for the Fed to raise rates in 2007.