Hedge fund guru David Tepper says US stocks are not expensive right now. “The U.S. economy is pretty good, stocks are not at high multiples right now,” Tepper, told Bloomberg Television.

He added that junk bonds are at the mid-point of the fair value range. Tepper also discussed comments he made last month about “the beginning of the end of the bond market rally”, and how European Central Bank policies impact that contention.