Wharton's Seigel Remains Bullish
Wharton professor Jeremy Siegel appeared on CNBC's Squawk Box earlier. Seigel stated that equities, relative to interest rates, were at the most attractive levels he has seen in his lifetime. When asked about the possibility of rising interest rates, Siegel stated that the 10-year will only go to 4% if the economy really improves. He stated that bull markets go on for a year to five years after the Federal Reserve starts tightening. On the Fed, Siegel stated that he was surprised that the market thinks QE3 is a possibility. He stated that there was no possibility of QE3 unless the economy significantly worsens.
Siegel said there was a 50-50 chance that the Dow could see 17k by the end of next year. He said the odds for Dow 15k were significantly higher, near 3-to-1.
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