Despite sharp selloff, too early to worry about a correction

Wall Street's worst week in two years was enough to get investors worried about whether a long-overdue correction is coming, but analysts are still leaning bullish. The Fed looks closer to raising rates, and housing and auto sales figures suggest those markets may be softening, if only temporarily. "The summer has been just tough because there has been very little to buy," said Kathleen Gaffney, portfolio manager of the Eaton Vance Bond Fund. "But I think what is happening is we are seeing the markets adjusting from an environment of lower interest rates to higher interest rates – and that's producing volatility."

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