Housing materials have also become difficult to obtain. The renovation of a friend of mine has been delayed due to the inability to procure materials.
Housing Materials：
The peak of Negativitivity could have been 3/2. Green bars are the number of bullish active managers, orange is bearish. We see the turning point as no bullish and many bearish. But I can't take a full position because of the serious impact of severe inflation on the real economy.
The market stance of active managers across the U.S. NAAIM:
With the decline in volatility, allocations to equities have returned. Why have Japanese stocks returned faster than U.S. stocks? It seems to me that one yen depreciation of the yen pushes up the EPS of the Nikkei 225 by 100 yen.
An assumed exchange rate of 110 yen to 120 yen, would boost EPS by 1,000 yen. The current EPS forecast is ¥2,067, which would be ¥3,000. The PER of 28,000 yen will drop from 14x to 9x. A single-digit P/E ratio is too low, so the stock may be bought up to 13x.
From left S&P, Nikkei, VIX:
The dollar has surged to 122, but how far will it go? The current market is in sync with the rise in long-term U.S. interest rates. The US interest rates will be used as a reference for profit-taking in the dollar-yen.
