Paul Tudor Jones says this ‘crazy’ stock market run reminds him a lot of early ’99

Investing

Paul Tudor Jones

Leanne Miller | CNBC

Billionaire investor Paul Tudor Jones said the stock market today is reminiscent of the one in early 1999. 

“We are just again in this craziest monetary and fiscal mix in history. It’s so explosive. It defies imagination,” Jones CNBC’s Squawk Box at the World Economic Forum in Davos, Switzerland. “It reminds me a lot of the early ’99. Early ’99 we had 1.6% PCE, 2.3% CPI. We have the exact same metrics today. The difference is fed funds rate 4.75% today 1.62%, and back then we had budget surplus and we’ve got a 5% budget deficit … Crazy times.”

Asked if he wants to get off the train in the bull run, Jones said, “Not really. The train has got a long, long way to go if you think about it.” 

Jone said the “curveball” to derail the bull market could be the outbreak of a new coronavirus.

This is breaking news. Please check back for updates.

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