Thursday, June 13, 2013

Rise markets rise, Japan money printing

We can certainly see a dip or two between now and the final top/the final turn. But it may take until 2014 (Q1) before we get the true onset of a major -25% to -50% bear market in stocks.

We also need to be cognizant of the Abe/BoJ developments. Along with the Fed, ‘Japan’ is one of the two major global risk reward drivers. The ECB response to (core) deflation and the German elections, and weakening Chinese & EM growth and the indebtedness of China & EM, will also matter a great deal.