Janus' Michael Contopoulos: We just raised cash due to 'tremendous uncertainty'

• Raised cash due to 'tremendous uncertainty' in the market.
• Believes inflation will remain elevated for some time, even if oil prices moderate.
• Considers a Fed rate cut a 'huge mistake' that would lead to much higher rates.
• Predicts the 10-year Treasury yield could go 'well north of 5%' if the Fed cuts prematurely.

Michael Contopoulos of Janus Henderson Investors views the current market rally as premature due to 'tremendous uncertainty,' primarily driven by persistent inflation. He believes inflation will remain elevated and warns that a Fed rate cut would be a 'huge mistake,' likely leading to significantly higher interest rates.