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The Zeberg Letter

Navigate Macro turning
points with clarity
Henrik Zeberg
byHenrik Zeberg
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The Zeberg Letter is a monthly macroeconomic report that provides a clear, data-driven view of where we are in the global business cycle — and what that means for the economy & markets and different assets. Combining classical economic theory with Henrik Zeberg’s proprietary multi-layered market model

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A Smarter Way to Navigate Markets

Deep insights for advanced investors.

Monthly macro outlook rooted in data

Cross-asset structure and market rhythm

Scenario-based strategies to stay ahead

Select your perfect plan

Receive an Early bird discount if you subscribe before Aug 1, 2025**.

Monthly

The Zeberg Letter with Henrik Zeberg

$699

/ m*

  • PDF Report sent on a regular basis onto your mailbox
  • Monthly subscription
  • You can unsubscribe any time

Quarterly

The Zeberg Letter with Henrik Zeberg

$599

/ m*

(Save $100/m)

  • PDF Report sent on a regular basis onto your mailbox
  • Quarterly subscription
  • You can unsubscribe any time

Yearly

The Zeberg Letter with Henrik Zeberg

$499

/ m*

(Save $200/m)

  • PDF Report sent on a regular basis onto your mailbox
  • Yearly subscription
  • You can unsubscribe any time

*Prices are exclusive of tax, local tax rates will be calculated at checkout.
**Discount applies to first payment only

What’s inside the Zeberg Letter

Every report is designed to elevate your market awareness
with timely, high-level analysis.

Step 1

Business Cycle

•  Business cycles represent the natural ups and downs of the economy over time.
•  Rising yields signal economic strength but can eventually slow consumption and lead to a recession.
•  Each phase of the business cycle presents unique investment opportunities.

Cut through the noise — and make decisions based on in-depth understanding of business cycles

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Step 2

Macro Outlook

•  The Macro Report offers a deep dive into the underlying forces driving the economy.
•  It connects business cycle with actual macro economic development
•  It establishes most probable macro economic outlooks

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Step 3

Multi-Dimensional
Market Model

•  Our multi-dimensional model builds on traditional Elliott Wave Theory for deeper market insights.
•  It integrates price structures from multiple asset classes for a broader perspective.
•  We align and calibrate these outlooks to create a unified, cross-market analysis.

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Henrik Zeberg

Our Head Economist

Meet Henrik

Henrik Zeberg is a Danish economist and financial analyst with decades of experience in macroeconomic cycles and financial markets. Holding a Master’s in Economics from the University of Copenhagen, he gained prominence for his deep understanding of economic patterns and market behavior.

Frustrated by mainstream economists' failure to predict the 2008 financial crisis, he developed a unique approach that bridges macroeconomic theory with real-world market dynamics. Today, as a leading voice in the field, he provides Swissblock members with exclusive, high-level insights and strategic guidance to navigate global markets with confidence, while having a follower base of over 170,000 interested in economy and markets.

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Henrik’s socials
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Market trends we successfully identified.

Nov 2023
Dismissing Crash. Equity Blow-Off-Top
In November 2023, the stock market had been going through a correction. Calls from analysts that the Bull Market was now over was everywhere. Fear in the market. But the Business Cycle Model gave us that the Economy was still strong, and the EW Market Model suggested that the BlowOffTop would continue with increased momentum.
Jun 2023
Bitcoin Bull Market
In June 2023, analysts were betting on further declines in Bitcoin. However, with a strong Economy as per the Business Cycle Model, and with inflation on its way down, a call for continued Bull Market and BlowOffTop was prudent.
Apr 2023
“Goldilocks Zone”
In early 2023, there was still a lot of confusion regarding the economy and the direction of inflation. But the Business Cycle Model gave a clear outlook of Economy not close to recession and inflation on its way down – i.e. “Goldilocks Zone” for the markets.
Jan 2023
ATHs in Equities to come
In early 2023, analysts were still doubtful about the stock market. But Business Cycle model indicated that the Economy was still strong, and the new Equity Bull would have a long run before an End would come to the rally.
Late 2022
Major FAANG Rally
In late 2022, FAANG stocks were squeezed into a technically Bullish structure, while the general equity market had turned. The momentum had turned for FAANG and a new Bull had been born.
Oct 2022
No Recession & Blow-Off Top
In October 2022, analysts were very Bearish the stock market. Talks of Recession and continued decline in equities. It was however clear, that this was a mistaken outlook, as the Business Cycle was still in positive territory – and the decline in SP500 was coming to an end. Rather a BlowOffTop was in the making.
Jan 2021
DXY rally & Consequences
After Corona stimulus had been carried out and the DXY had been declining for some time, it became clear from a technical perspective, that DXY would bottom and a strong Bull Market in DXY would set in.
Jan 2020
Oil Crash
Into late 2019, it became clear, that a crash was imminent in markets. LEI had turned negative, and market yields had been dropping fast. And Oil looked very weak from a technical perspective.
Nov 2018
Bonds Bull Market
Late 2018, Market analysts predicted that the interest rates would remain high. My analysis called for a top in interest rates and a strong Bond Bull market.

Testimonials

What our clients are saying

Viska Digital Assets

Iceland (AUM Approx.25 Mio)

We have been using Swissblock Economy and Markets services for some time and have greatly appreciated Henrik’s insights into global economic trends. His macroeconomic analysis has been especially valuable during times of significant shifts in the broader economic landscape. Henrik has a unique ability to connect economic fundamentals with market movements and charting, providing an excellent complement to our in-house research.

Indian Hedge Fund

India (AUM Approx.14 Mio)

While we have an in-house macro analysis team, Swissblock and Henrik’s insights help us cut through market noise and stay focused on what really matters. When our views align, it strengthens our confidence in our trades. When they differ, it helps us identify risks we may have overlooked. It’s a great, no-nonsense sounding board, especially in choppy markets. I love Henrik’s ability to provide clear direction while accounting for countless moving components.

HNWH Client

SEM Client

I joined Swissblock as a client for its outstanding combination of macro and technical analysis, both of which are crucial for navigating today’s market challenges. It has been a great journey of knowledge building and better decision making for me.

HNWH Client

SEM Client

Swissblock Economy and Markets service delivers bold, insightful macroeconomic analysis that cuts through the noise and identifies key market trends before they unfold. Their research has given me a clear, actionable edge in making investment decisions with confidence.

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Looking Beyond Reports?

Talk directly with our economist Henrik Zeberg, and gain clarity on the forces shaping global markets.

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