David Tepper doesn’t think stocks are a great investment here, but says it all depends on rates

David Tepper doesn’t think stocks are a great investment here, but says it all depends on rates

Hedge fund manager David Tepper has turned somewhat bearish on the stock market, citing uncertainties around interest rates and inflation. "I don't think it's a great investment right here," Tepper said Friday on CNBC's ." "I just don't know how interest rates are going to behave next year... I don't think there's any great asset classes right now... I don't love stocks. I don't love bonds. I don't love junk bonds." The Federal Reserve has been keeping its benchmark short-term interest rate anchored near zero since the start of the pandemic. In recent weeks, officials have indicated  the monthly asset purchases, possibly starting in November. Many believe that rising inflation, which is running at a 30-year high, could put pressure on the central bank to pull back some of the ultra-easy monetary policy soon. Traders have upped their bets that the Fed will move faster than anticipated on rate hikes, with market pricing implying a first rate increase coming in September 2022, according to  tracker. The founder of Appaloosa Management, whose comments have been known to move markets, said his hedge fund has been "probably too conservative" this year but has done OK because of its bets on