Quote of the Day: Looming Stress – Private Wealth Advisors

Monday, September 23, 2019

Quote of the Day: Looming Stress

by Marty Mazorra CFP®, ChFC®

Founder & Co-Chief Investment Officer

As you’ve noticed, we’re not entirely constructive on the stock market these days.

Our concerns over what has been an on the surface deteriorating risk/return setup are, alas, compounded by what we see brewing beneath.

Here’s from Bloomberg this afternoon:

“The U.S. high-yield bond market is booming, with $222 billion in new issues so far in 2019, a 31% increase from the year-ago period. The smaller world of distressed debt — bonds that trade 1,000 basis points above equivalent U.S. Treasuries — is also increasing.

That may be a sign of looming stress in the U.S. market.”

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Marty Mazorra CFP®, ChFC®

Founder & Co-CIO

is the author of "Making Lemonade: A Bright View on Investing, on Financial Markets and on the Economy" and "Leaving Liberty?: Essays on Politics and Free Market Thinking".

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