Stellar gains in equity markets do not necessarily signal the start of a long-term bull trend, billionaire investor Jim Rogers told CNBC's "The Kudlow Report," adding that the rally in stocks is just the result of ultra-easy monetary policy by the world's major central banks.
"I am short bonds, but I'm not sure there is going to be a long-term bull market in stocks. There is a lot of money printing," Rogers said. "So this (the rally) is artificial."
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Since the start of the year, the S&P 500 stock index has gained more than six percent, while the yield on benchmark 10-year U.S. Treasurys has crept higher as investors dump safe-haven assets and snap up riskier ones amid a generally improving outlook for the global economy.
That trend has led some commentators to bet on the start of "Great Rotation" out of bonds and into equity markets.