Kingsley Jones, Founder and Chief Investment Officer of Jevons Global, tells us that the Federal Reserve doesn't have to cut rates at the next FOMC but is likely to do so at year end. He, however, sees tough times ahead for markets and advocates a defensive strategy and going long on equities with reasonable valuations supported by yield.

<p>Kingsley Jones, Founder and Chief Investment Officer of Jevons Global, tells us that the Federal Reserve doesn't have to cut rates at the next FOMC but is likely to do so at year end. He, however, sees tough times ahead for markets and advocates a defensive strategy and going long on equities with reasonable valuations supported by yield.</p>

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