The 'zombie economy' is haunting the stock market and stoking uncertainty, strategist says

• The "zombie economy" is haunting the stock market and stoking uncertainty, Canaccord Genuity's chief market strategist told Bloomberg.
• High interest rates have boosted borrowing costs, creating "zombie" companies lurking around the economy.
• But the US has still seen strong economic growth, clouding the outlook on a recession and generating market volatility.

The stock market has been jittery lately. Blame zombies.

Or rather, zombie companies, which are debt-saddled firms with unsustainable business models. One strategist says they've created a "zombie economy" that's contributed to volatility as interest rates have risen.