Jeffrey Rosenberg is one of the world's foremost bond experts, but that doesn't mean he's a huge fan of that asset class. In fact, Rosenberg says that stocks are a far better bet than bonds for 2014.
"The outlook is very clear here," Rosenberg said on Tuesday's "Futures Now." Given "the outlook here—better economy, still-accommodative monetary policy, OK valuations—we clearly favor stocks over bonds for 2014."
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Rosenberg, the chief investment strategist for fixed income at BlackRock and no relation to the author, said that Treasurys in particular will have a lot working against them in 2014.
"You're getting a little bit better economic growth, and the Fed's pulling back a little bit," Rosenberg said.
After all, not only do rates tend to rise as the economy improves, but a better economy means that the Federal Reserve will feel comfortable in putting an end to the accommodative policies that have helped the bond market—most notably its $85 billion-per-month quantitative easing program.
Rosenberg says that 10-year Treasury notes are "at an inflection point," and are likely to rise another 50 basis points in 2014, to about 3.25 percent.