Hedge fund veteran Paul Tudor Jones speaks in an interview with Goldman Sachs
He joins in on the party of Ray Dalio and Bill Gross in sharing that sentiment. And says that he sees US 10-year Treasury yields rising to 3.75% by year-end, in what he describes as a «conservative» target.
Jones adds that «if you can’t tell by now, I would steer very clear of bonds». Further saying that «I want to own commodities, hard assets, and cash».
As for reasons for his «conservative» target, he cites overwhelming supply and economic momentum outpacing monetary policy response.
For me, Jones was one of the more prominent figures that I can remember when I started my trading career — reading the book ‘Market Wizards’ — as he had a lot of good trading principles (as well as risk management emphasis) and quotes that a trader can ever learn from.
That’s not saying that I think he is right here, after all as traders we are wrong a lot of the time. But if you do have some time to spare, do check out the book I mentioned. It’ll do your trading psychology a whole lot of good in the bigger picture.