“At the moment, equities everywhere—especially in Europe and to a lesser extent, U.S—is way ahead of what we can see in the real economy in terms of job creation, income growth and so forth,” Hedrick-Wong told CNBC.

“I think we’re going into a period of volatility and a lot of ups and downs, as investors are finding it difficult to make up their minds as conflicting data will continue to come out,” he continued.