Newsletter
Author: Bruce Liegel This week’s focus is going to be on long-term setups that are now developing in a number of markets. Typically, I glance at long-term charts weekly, but a few times a year I take a hard look if set-ups are occurring. This is the case in
Newsletter
In this Q&A, we sat down with Bruce Liegel for a deep dive on what lies ahead for commodities and whether there is a looming "supercycle". Hedder: There are talks of a looming supercycle. Can you explain what the term means and weigh in with your
Newsletter
The Japanese Yen keeps falling these days. How far will it go? Will the Japanese government draw a line in the sand and intervene in the forex market? We talked to Bruce and Takehiko Nakao, the former vice finance minister of Japan, for a deep dive into the topic. In
Newsletter
Author: Bruce Liegel Executive summary: * Oil prices rallied on the back of the OPEC agreement * The refill of SPR will act as a bullish factor * The drop in horizontal rig count, oil well productivity, and drilled uncompleted wells also contribute to the bull case * Soaring labor and drilling costs in
Newsletter
With an explosion in government deficit and an elevated interest rate environment, are we seeing the beginning of a crisis in sovereign debt and pension funds? In this episode, Bruce is joined by Nicholas Glinsman for a deep dive on this topic.
Newsletter
Author: Bruce Liegel The US dollar continued to grind higher last week, now up almost 6% after the critical 100 level held in July, as outlined in our previous weekly outlooks (see Chart 1). The overall trend continues to point to potential higher levels over the next few months. Chart
![[Video] Will Inflation Save Japan from the Lost Decades?](/content/images/size/w600/2023/10/JPY.jpg)
Newsletter
Is Japan finally getting out of the Lost Decades? In this video interview, Bruce Liegel and former BOJ Deputy Governor Masazumi Wakatabe explained the macro forces that are driving the Japanese economy and stock market.
Newsletter
Author: Bruce Liegel Introduction The Nikkei and Topix stock indices have been on a tear in 2023, with both indices up nearly 25% on the year in yen terms. This rally has been somewhat fueled by a weaker yen, down 12% on the year, but there is a bigger story
Commodities
Author: Bruce Liegel Last week's price action in equities was quite strong, with the corrective rally back to the lower trend line of the channel met with resistance following the mixed non-farm payrolls employment report. As discussed a few weeks ago, the breakout of the trend channel in
Commodities
Author: Bruce Liegel The dollar index has held the key support near 100, marked by the horizontal blue line on Chart 1 below. The dollar has had a nice 4% or so bounce off this support, starting off the final rally from the 2011 low. In the short run — next
Global Macro
Author: Bruce Liegel Executive summary: * How gold, in a bull market since 2000, has become 'institutionalized' * A look at gold ETFs, and the role of central banks, inflation and interest rates * And a wider market outlook for gold as well as silver, palladium and platinum Introduction Our previous
Newsletter
Author: Bruce Liegel This week’s CPI report data was in line with market forecasts and consensus views, but core CPI continues to be quite sticky. While overall CPI is down to 3.2%, core is still quite elevated at 4.7% and is driving fears that the Federal Reserve