Triggers for a Japanese equity bull
Based on a Price to book ratio below 0.6 which is similar to the previous Japanese bull market in 2012, I'm inclined to look further.
USDJPY and Nikkei seem to correlate significantly.
USDJPY and 10 year USD interest rates correlate at times, would be interesting to compare USDJPY and spread between US and JP 10 year interest rates.
Mid caps leading big caps does not seem to a prerequisite for an equity bull market.
So what could potentially be a trigger? We'll better pay attention, perhaps news flow spurs positive buying interest.
I'll add more later this summer once I have time.
Best wishes for a prosperous summer!
P/B chart: themarketear.com / Morgan Stanley
charts from: esignal