LEON COOPERMAN: If You're Buying Bonds, You're 'Playing With Dynamite'
Cooperman said that the risk in financial markets rests "unequivocally" with bond investors right now.
Cooperman said that US government bonds have usually moved in connection with nominal GDP, which is a combination of real GDP and inflation.
Cooperman said that if we get real GDP of about 2%-3% and inflation of about 2%-3%, then nominal GDP comes to about 4%-6%.
To Cooperman, this means it wouldn't be unreasonable to expect that US 10-year Treasuries could rise to 4%, 5%, or 6%, and Cooperman said that if this happens, bond investors are going to see capital losses.
On Thursday morning, the yield on the US 10-year Treasury bond fell to 2.27%.
Leon Cooperman also spoke on Apple as he was on live as Carl Icahn's open letter to Apple CEO Tim Cook crossed the wires, with Cooperman saying that Apple shares are currently 20% undervalued.