In addition, [Stephen Moyar] and [Triet Nguyen] said bonds were bolstered by what is called a flight to quality (that's when skittish stock investors sell their stocks and buy bonds) and news that inflation continues low.

(Even President [Bill Clinton] got a chance to weigh in on the bond market's reaction. In brief remarks at a "photo opportunity," he brushed aside a suggestion that the stock market's plunge might be an adverse reaction to his emerging economic program and cited the bond market's performance as a more positive indicator. "No, no," Clinton said in response to a suggestion that his speech Monday night sent the stock market plunging. He said "the bond market's a better indicator" and "that response has been very positive.")

Massachusetts Financial Services said Jeffrey Shames, chief equity officer of MFS and portfolio manager of Massachusetts Investors Trust, will succeed A. Kenneth Brodkin as president. Brodkin will continue to serve as chief executive officer and chairman of the company, whose heritage dates back to 1924 and whose assets under management total $30 billion.