With bond yields and stocks sentiment both low, James O’Shaughnessy says he is “very very bullish” on stocks. O’Shaughnessy tells CNBC that bonds are priced to perform very poorly, but that investors can get good income from stock dividends — particularly from European stocks. He says investors need to separate the sovereign problems in Europe from the health of European companies, many of which are doing well and trading at very attractive values, he says. JPMorgan’s Thomas Lee also discusses his outlook for equities, saying he’s encouraged that sentiment remains muted despite the recent market gains.