End of Japan Stimulus Could Spark Next Bear Market, Says Former Hedge Fund Manager
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Former hedge fund manager Russell Clark argues the Bank of Japan ending quantitative easing could trigger the next bear market by removing market liquidity.
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Clark believes the BOJ matters more than the Fed for financial markets, citing past crises starting when Japan tightened policy.
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He thinks semiconductors are the "new oil" - a strategic asset explaining the Nasdaq and Nikkei rallies despite higher yields.
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Clark is watching if the BOJ raises rates given moves in bonds and food inflation as a signal to get bearish.
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U.S. inflation data, earnings from Coca-Cola, Hasbro, Molson Coors and more are due today along with Fed speakers.