The decline of manufacturing and the rise of services should be helping to reduce volatility, because demand for services is usuallymorestable than demand for manufactures.
But they usually are the shares of companies that are morestable and better managed than the highly visible, high-risk and high volatility stocks, he adds.
Analysts also note the consumer-staples sector generally tends to be more supportive of debt loads because sales, even if uninspiring, are usually relatively stable.