UBS Survey: Wealthy waiting out debt debate
News from NorthJersey.com:

Two out of five wealthy investors say they’re waiting for Washington to resolve the debt ceiling issue before putting money into the markets, according to a poll conducted this week by UBS Wealth Management Americas.

“Whether we’re advising a corporate chief executive, a high-net-worth investor or a small-business owner, it’s clear that uncertainty over the U.S. debt has frozen everyone in their tracks when it comes to actively participating in the market,” Robert J. McCann, CEO of the wealth management group, said Friday.

The company, based in Weehawken, polled 1,000 clients and investors nationwide.

When asked what worries them in terms of potential impact on their financial goals, 65 percent of investors cited the size of the federal debt, up from 59 percent in April. Also, 40 percent of respondents are highly worried about the country defaulting on its debt.

The poll also found a dramatic reversal in investors’ outlook on the economy. In the April pol…………… continues on NorthJersey.com
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