Wednesday, May 23, 2007

Pioneer's Feltus, Manager of Top-Performing Junk Bond Fund, Prefers U.S.

(Bloomberg) -- Andrew Feltus, manager of the top-
performing Pioneer Global High Yield Fund, expects U.S. junk
bonds to outperform those in Europe and emerging markets because
the Federal Reserve will refrain from raising interest rates.

Feltus, who runs the fund at Pioneer Investment Management
in Boston, said policy makers will hold their target interest
rate at 5.25 percent for the next 12 months, encouraging
economic growth and keeping risk premiums on speculative-grade
debt close to record lows. There is about a 25 percent chance
the Fed will lift rates to contain inflation, he said.


Read more at Bloomberg Bonds News

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