- Speaking on CNBC, Paul Tudor Jones said that its a “difficult time to be an investor in us stocks,” citing uncertainty in geopolitics and the US fiscal situation.
- Jones noted that the fiscal situation is likely to be different than other “cataclysmic events” in that it is slow moving and the impact may not occur at a point in time. Rather, Jones sees a grinding problem that risks a viscous cycle where high debt leads to higher interest rates, which in turn drives debt higher.
- Jones sees a recession starting in late 2023 or early 2024, bit though it would be difficult to pinpoint when it begins. As a result, Jones sees some value in 2-year rates and assets such as bitcoin once the fed begins reducing interest rates.
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