Rogers also said stock markets could head for a pullback following a strong rally.
"It's overdue for a correction. Certainly, it would not be surprising if there were a correction after a straight-up move for six months," Rogers told Reuters Television in an interview.
After the Reuters interview, Rogers said at a seminar hosted by ETF Securities that the bull market in U.S. Treasurys has come to an end.
"The next bubble that I see developing is in the United States government bond market. It is inconceivable to me that anybody would lend money to the U.S. government for 30 years in U.S. dollars at 3 to 6 percent interest rate," he said. "So, somewhere along the line, this bubble is going to pop. If any of you own bonds, I'd be terribly worried, I would think about getting out of the bond."
Rogers said agricultural products, precious metals and oil remained among his favorite commodity picks.
"I know that inventories of agricultural products are the lowest they have been in decades. We
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