The central bank president found a bright spot in the recent sell-off in the stock market, though he struck a cautious note about its ferocity.

Many institutional investors and Wall Street strategists contend that the most recent sell-off has gone too far.

He is unfazed by the recent sell-off in technology.

But market participants said that the recent sell-off has been so large that professionals are likely to start buying selected issues again soon, perhaps this week.

During the recent sell-off in technology stocks, however, PipeDream plummeted to 2 1/4.

This disappointment is also hurting corporate bonds, he said, adding to the recent sell-off that helped fan yesterday's rumor.

Analysts said part of yesterday's upturn could be explained as a bounce back from the recent sell-off.

"The recent sell-off of technology issues has created a wealth of undervalued investment opportunities," he said.

But the recent sell-off makes it look more attractive.

In fact, many bond experts say the reasons for the recent sell-off in Treasury bonds aren't terribly complicated.