Billionaire investor Paul Tudor Jones called the current geopolitical environment the “most threatening and challenging” he’s ever seen in the wake of Hamas’s attack on Israel over the weekend and predicted the US will enter into a recession early next year.
“Where this really gets bad is obviously if Iran and Israel get into direct conflict, because then you’ve got the ability to have kind of a First World War cascade, where everyone gets involved,” Jones, founder of Tudor Investment Corp., said in an interview Tuesday on CNBC.Jones predicted a recession will start in the first quarter of 2024, saying the US is in its weakest fiscal position since World War II.
“The bond market, simply through supply and demand, is going to deliver more rate hikes, because we don’t have a clearing price yet for long-term debt,” Jones said. “So those rate hikes are probably going to tip us into recession.”Workers at General Motors Co.’s Canadian plants are on strike, idling key factories in Ontario, after contract negotiations with the union representing about 4,300 employees failed to bring an agreement.
Claudia Goldin, a Harvard University professor, was awarded the Nobel economics prize on Monday for research that helps explain why women around the world are less likely than men to work and to earn less money when they do.Blasting the heat with a remote sensor before you even get into your vehicle on a brisk winter morning is a welcome convenience. So are the comforts of lane assistance, voice command, Bluetooth and Wi-Fi.
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