Critical information for the U.S. trading day
A seven-day winning run for the S&P 500 SPX is on the line, ahead of some brief, but potentially interesting remarks by Fed Chair Jerome Powell, who also is scheduled to deliver remarks on Thursday.
Marks didn’t get into exactly where Gen-Xers can find compelling stocks, offering more advice on the credit side, as he drew from a recent letter to shareholders that hammered home that asset class’s importance right now. “The key is today you can get equity returns from credit and that changes a lot. Twenty-one months ago high-yield bonds yielded 4%, today they yield over 9%…9% plus change everything,” said Marks. And investors should expect fed funds rates to come down some, but not stabilize at 0.5% such as in 2009 to 2021, he said.
But Walker said they should put the bulk in “a high-quality portfolio of small and midcap companies that are profitable, have low leverage and solid market positions. The steady Eddies which are unloved right now have a good shot at delivering a solid, diversifying portfolio over a 10-year period.”
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