12/7/2010

Paul Norris, head of structured bonds at Dwight Asset Management, said he expects a rally in commercial mortgage-backed securities to continue into the new year, but in order to continue reaping capital gains, investors will be forced to move down in quality. The $700 billion CMBS market has emerged as a top performer for bond funds this year, but gains in the safest of the asset class likely have run their course, Norris said.

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