That leads us to recommend high-quality bonds, although I agree with Ed that they have got ahead of themselves.

Anyone worried about taxes would think about owning high-quality municipal bonds.

As a major source of funds KfW issues high-quality bonds and notes.

"And the high-quality bonds, the Government bonds, will probably be the best performers" over the next few months.

Yields on high-quality municipal bonds have been running more than 8 percent.

He said the best buys were high-quality, intermediate-term tax-free bonds.

As an example, people buy stocks at the top, and now they are buying long-term high-quality bonds and fixed annuities.

Between high-quality and junk bonds, he said, "spreads may widen still further."

So while good managers can pick their way through weaker credits, many are choosing instead to buy high-quality muni bonds.

Businesses want to switch to a high-quality corporate bond as the benchmark.