Billionaire hedge fund manager Paul Tudor Jones said the second half of the year is going to be a “phenomenal” trading time when interest rates will move “significantly” higher as will stocks.
Jones said in an interview on CNBC Tuesday that if he ran the Federal Reserve it would increase rates by 150 basis points.
Jones, whose hedge fund Tudor Investment Corp. has suffered from losses and investor withdrawals in recent years, said that he doesn’t have many macro trades on because the “reward and risk have diminished at this point in time.”
Jones described the outcome of the summit between U.S. President Donald Trump and North Korea’s Kim Jong Un as anti-climactic but said an eventual deal may be Trump’s crowning achievement more than his tax cuts.
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