Interest rates suggest the stock market is wildly overvalued, JPMorgan's Marko Kolanovic says

• The stock market is wildly overvalued based on current interest rates, according to JPMorgan.
• The bank said that history implies that S&P 500 multiple is about 2.5x overvalued amid a vulnerability in corporate profits.
• "Risk-reward for equities remains poor in our view, reinforcing our underweight equity stance," JPMorgan's Marko Kolanovic said.

Investors shouldn't bet on the year-to-date bounce in equities to continue as the stock market remains wildly overvalued based on current interest rates, JPMorgan's Marko Kolanovic said in a recent note.