The Real Risk Is Japan
Published on
The biggest risk to the equity bull market is not a US recession. The biggest risk is the end of the deeply negative real rates in Japan versus the US that have caused the rampant post-2022 inflation in US tech stock valuations. We go through the investment implications. Plus: bond prices have further tactical downside whoever wins the US election.
BCA Research | CoreMacro
BCA’s flagship global macro and investment strategy platform, helping investors anticipate regime shifts, connect signals across regions and asset classes, and navigate the world’s most difficult macro questions.
Stay Connected with BCA
Get our latest events and research insights delivered to your inbox.