NEW YORK (Reuters) - Howard Marks, co-founder and chairman of Oaktree Capital, the world's largest distressed debt investor, said on Tuesday that no assets in financial markets were "absolutely cheap" but that stock valuations were not excessive.

"There are no compelling bargains that I'm aware of in the markets," Marks told cable television network CNBC. "There's nothing that's absolutely cheap."

He cited the Federal Reserve's accommodative monetary policies for prices on assets. He said that stock valuations were "full," but "not in the territory they were in in 2000."

(Reporting by Sam Forgione; Editing by Ted Botha)