JP Morgan’s (JPM) Chief Market Strategist Defends German Ban On Naked Short Selling

German government has instituted a ban on naked short selling. In an interview with CNBC, David Kelly, chief market strategist at JP Morgan (NSYE: JPM) Funds, shared his views on the new proposal. Kelly defended the ban and said, “Fundamentally, in this kind of situation, the Europeans do need to protect their sovereign debt and their banks and it’s reasonable to ban naked short-selling against these assets.”

Kelly also gave his views on the falling euro. He said that the euro’s decline is good for euro zone countries as they have no inflation issues. He added that the fall in value of the currency will help exports.