Advertisement
New Zealand markets closed
  • NZX 50

    11,717.43
    -117.59 (-0.99%)
     
  • NZD/USD

    0.6088
    +0.0004 (+0.07%)
     
  • NZD/EUR

    0.5680
    +0.0002 (+0.04%)
     
  • ALL ORDS

    8,013.80
    +11.00 (+0.14%)
     
  • ASX 200

    7,767.50
    +7.90 (+0.10%)
     
  • OIL

    81.46
    -0.28 (-0.34%)
     
  • GOLD

    2,336.90
    +0.30 (+0.01%)
     
  • NASDAQ

    19,682.87
    -106.16 (-0.54%)
     
  • FTSE

    8,164.12
    -15.56 (-0.19%)
     
  • Dow Jones

    39,118.86
    -45.20 (-0.12%)
     
  • DAX

    18,235.45
    +24.90 (+0.14%)
     
  • Hang Seng

    17,718.61
    +2.14 (+0.01%)
     
  • NIKKEI 225

    39,583.08
    +241.54 (+0.61%)
     
  • NZD/JPY

    97.9080
    +0.1750 (+0.18%)
     

Investors should be focused on U.S. debt -advisor

STORY: Phillips said he favors short-term bonds at the moment, but worries how the government is going to cover its costs in the future.

"If we have a deficit like this when the economy is on relatively good footing, then what does that mean for when we eventually fall on tougher times?" he wondered, adding that "we could, down the road, see another debt rating downgrade for the U.S. government because of this."