Investors are ignoring 2 big risks to markets, says CIO, naming stocks that are bond 'substitutes'

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He names three stocks that pay 'very generous' dividends and are 'substitutes' for bonds.

Investors are ignoring two major risks to the market, according to Vahan Janjigian, chief investment officer at Greenwich Wealth Management. The first is the U.S. national debt, he told CNBC's " Street Signs Asia " last week. "I think another major risk that investors are ignoring is the massive amount of debt in the United States and the growing debt, and you know, perhaps more importantly, the cost of servicing that debt," he said. "The U.S.

"And perhaps the most surprising thing is that oil prices are still very weak, because these are, you know, two regions that are closely tied to oil, yet, you know, there seems to be enough oil on the market. And right now, the bigger concern is that demand for oil in China might be weaker than we thought," said Janjigian.

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