May 21, 2014 / 7:42 PM / 4 years ago

Prudential's Peters says he favors double-b-rated junk bonds over US equities

May 21 (Reuters) - Greg Peters, senior portfolio manager who helps manage over $418 billion in assets at Prudential Investments, said on Wednesday that he favors double-b-rated junk bonds over U.S. equities.

Peters, the former Morgan Stanley chief global asset strategist who sounded an early alarm about the financial crisis, also said there is a remote chance the U.S. will go into recession but bond yields are signaling a higher probability today than six months ago. (Reporting By Jennifer Ablan; Editing by Chris Reese)

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