U.S. stocks, foreign stocks, bonds or gold? Currently, U.S. stocks seem expensive when measured using the so-called cyclically adjusted price-earnings ratio, or CAPE. That can be more of a problem for less-creditworthy companies such as those in the junk-bond market. Photo: iStockphoto/Getty Images“I’m less concerned about investment-grade bonds,” Mr. Tchir says. He suggests investors trim their junk-bond holdings and invest instead in bank loans, which typically have adjustable interest rates.

Source: Wall Street Journal June 05, 2017 01:52 UTC