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JPMorgan’s Kelly Says Fed-Fueled Bond Bubble Makes Stocks a Buy

By Tony Seruga

Chief global strategist calls bond markets ‘distorted’
Says earnings will be up one year from now as oil impact fades

Central bank policies are distorting the bond market and creating a bubble in fixed income, according to JPMorgan Chase & Co.’s David Kelly, who advocates owning equities instead.

Easy money policies around the world have sent bond prices soaring, making equity markets the most attractive asset class for investors seeking income, Kelly, the chief global strategist at JPMorgan Asset Management in New York, said in an interview on Bloomberg <GO> Thursday…

JPMorgan’s Kelly Says Fed-Fueled Bond Bubble Makes Stocks a Buy

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