Name: We're in a commodity bull market that will spread out, says investor Peter Boockvar
Uploaded: 2026-01-26T23:42:10+00:00
Duration: 342 s

Speakers

Peter Boockvar — Chief Investment Officer, BFG Wealth Partners

Tim

Summary

Peter Boockvar of OnePoint BFG Wealth Partners discusses a broadening commodity bull market, expecting oil and agriculture to join the move while precious metals and copper are extended. He also sees continued dollar weakness and higher global long-term bond yields, with Japanese rates potentially dragging U.S. and European yields higher. He flags foreign ownership of U.S. assets as a flow risk and says natural gas needs monitoring after its cold-spell spike.

Peter Boockvar forecasts a broadening commodity bull market.
He says oil is underpriced and could rise from $60 to $70-$80.
He expects agriculture to eventually join the commodity rally.
He views precious metals and copper as overextended near term.
He expects U.S. dollar weakness to continue and broaden.
He sees global long-term bond yields moving higher, led by Japan.
He notes foreign ownership of U.S. assets as a flow risk.
Natural gas is monitored after a weather-driven spike.

Ideas

Peter Boockvar Chief Investment Officer, BFG Wealth Partners 0:40

Global long-term bond yields are heading higher.

Peter expects a global pull higher in long-term yields. A further rise in Japanese long-term rates can act as a magnet and drag U.S. and European long-term rates higher; European yields are already at multiyear highs even after ECB short-rate cuts. He also sees foreign ownership of U.S. assets/Treasuries as a flow risk if the dollar weakens, which could disrupt demand and add upward pressure on yields.

Peter Boockvar Chief Investment Officer, BFG Wealth Partners 1:42

Dollar weakness will continue and broaden.

Peter thinks dollar weakness will continue and broaden. The yen is one of the cheapest currencies versus the dollar and could reverse higher; the Chinese yuan is at its highest since May 2023 and is rising purposefully, which can give room for the yen and other Asian currencies to rally. Large foreign ownership of U.S. assets means foreigners may hedge or sell dollar holdings, reinforcing the dollar downtrend.

Peter Boockvar Chief Investment Officer, BFG Wealth Partners 1:42

Dollar weakness will continue and broaden.

Peter Boockvar Chief Investment Officer, BFG Wealth Partners 1:42

Dollar weakness will continue and broaden.

Peter Boockvar Chief Investment Officer, BFG Wealth Partners 4:47

Oil is underpriced and can rise.

Peter agrees oil is underpriced. He says oil could move from the $60s to $70 or $80, which would complicate inflation and the Fed's job and is part of the broadening commodity bull market.

Peter Boockvar Chief Investment Officer, BFG Wealth Partners 4:56

Agriculture will eventually join commodity bull market.

Peter expects agriculture to eventually join the commodity bull market, adding to the broadening commodity move.

Peter Boockvar Chief Investment Officer, BFG Wealth Partners 5:00

Precious metals and copper need timeout.

Peter says precious metals are very extended and need a time out, and copper looks similarly extended after its run. He is not calling for a bear market, but near-term chasing is unattractive until they consolidate.

Peter Boockvar Chief Investment Officer, BFG Wealth Partners 5:09

Commodity bull market will spread out.

Peter is bullish on a broad commodity bull market and expects it to spread out. Precious metals and copper are extended and may need a time out, but he sees the bull market broadening into oil and eventually agriculture, helped by dollar weakness.

We're in a commodity bull market that will spread out, says investor Peter Boockvar

Summary

Ideas

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