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Sustainability

Making Diversity Work: Equity as the Bridge to Inclusion

Part 7 of our Nomura - University of Sheffield research on the social pillar of ESG in East Asia looks at how companies need to rethink their working patterns and expectations for all employees in order to unlock the diversity dividend.

5 min read | November 2022

Economics

Damocles: Our Early Warning Indicator of EM Exchange Rate Crises

Our early warning model of EM exchange rate crises shows Egypt, Romania, Sri Lanka, Turkey, Czech Republic, Pakistan and Hungary are at risk

2 min read | November 2022

Sustainability

COP27 – Achievements and Outcomes

The Sharm El-Sheikh conference resulted in agreement to carry forward into future COP discussions loss and damage arrangements but didn’t move the needle on limiting climate change.

3 min read | November 2022

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Sustainability

ESG360 – COP27: A Review of the UN's Climate Change Conference

We review the proposals, announcements and progress discussed at the UN's Climate Change Conference held in Egypt in November 2022.

33 min video | November 2022

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Economics

Asia Macro in 30: Macro-financial vulnerabilities in Asia

With weak growth, higher interest rates, a stronger dollar and high leverage making a potent mix, hear from our economists as they discuss macro-financial vulnerabilities in Asia, zooming in on credit stress in South Korea and balance of payments concerns in Indonesia and the Philippines.

30 min podcast | November 2022

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Central Banks

Fireside Chats – US: Soft CPI, Fed Implications and Politics

In this episode, we explore what the weak CPI number means for the Fed, markets, and a recap on the midterms elections

31 min video | November 2022

Sustainability

Japan’s Road to a New Form of Capitalism

Japan is prioritizing social finance to solve social issues.

4 min read | November 2022

Central Banks

What's on the horizon for the global economy?

Our weekly updated overview highlights the key releases of global economic market data from around the globe and provides an economic outlook for the rest of 2022 by region.

3 min read | November 2022

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Sustainability

ESG360 – Gender Equality, Disability and the Diversity Dividend

We take note of how companies in East Asia compare to European peers in addressing diversity in the workplace, and what these companies can do to embrace disabled workers and achieve gender equality for the long run.

22 min video | October 2022

Economics

Having learned from the 1997 crisis, Asia’s currency defense is likely to be prudent and eclectic

Asian economies are in a much better state today, more able and willing to tolerate currency depreciation, which can act as a shock absorber.

4 min read | October 2022

Economics

US: Recession Imminent – Will the Economy Recover by 2024?

We continue to expect an imminent recession and look for an only muted rebound in real GDP growth during 2024

6 min read | October 2022

Sustainability

The Future of Carbon Credit Trading in Singapore

Singapore’s new international carbon credit exchanges are a step towards reducing greenhouse gas emissions in a market with enormous potential.

6 min read | October 2022

Technology

Macro Tailwinds Favor Long-Term Growth of Tech-Enabled Companies in Asia

Investors are looking at companies that exhibit sustainable growth and profitability

3 min read | October 2022

Sustainability

The Benefits of Employing Disabled Workers

Part 6 of our Nomura - University of Sheffield research on the social pillar of ESG in East Asia looks at disabled employment and how the diversity dividend will inform business performance and sustainability.

5 min read | October 2022

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Central Banks

Fireside Chats – What Sways The Fed?

In this episode, we explore the recent moves in US markets, the softer US data and their Fed call.

27 min video | October 2022

Technology

Crypto winter came in the summer...What’s next?

Blockchain technology is being widely adopted including in trade finance and asset tokenization

3 min read | October 2022

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Sustainability

ESG360 – How AgTech is Revolutionising the Food Chain

In this podcast, we explore how factors such as climate change, a population explosion and food security are driving AgTech solutions like insect protein and lab-grown meat.

28 min video | October 2022

Sustainability

SDG 10 – How Social Finance can Address Inequality in Japan

Japan faces challenges in achieving the UN’s Sustainable Development Goal 10: Reduced Inequalities, but sustainable finance can play a pivotal role in tackling the problem of income disparities among the elderly and single-parent households.

4 min read | October 2022

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Economics

MacroBrew - Asia macro talk in 30: Peak inflation?

31 min podcast | September 2022

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Economics

MacroBrew - Are we Heading into a Global Food Crisis?

A webinar with Mr. Ahmad Mukhtar, Senior Economist

60 min video | September 2022

Sustainability

Achieving Gender Equality in South Korea

Part 5 of our Nomura - University of Sheffield research on the social pillar of ESG in East Asia examines gender balance across top companies in South Korea and reveals the industries most favorable to women.

5 min read | September 2022

Sustainability

Modern Farming – Reducing Food Miles and Waste

Kathy Valiasek, CFO at Local Bounti, a controlled environment agriculture company, told Nomura Greentech how she is helping to pioneer modern methods of farming that reduce food waste while using less of the planet’s resources.

3 min read | September 2022

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Central Banks

Fireside Chats - Hawkish BOE and UK Fiscal Policy to the Rescue?

In this episode, we explore the impact of UK energy and fiscal policy on markets amidst global growth concerns.

38 min video | September 2022

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Central Banks

Fireside Chats - A Much More Hawkish ECB, Where Will It End?

Our European Economics team discuss what the hawkish turn from the European Central Bank means for the Euro Area and risks around the outlook.

26 min video | September 2022

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Sustainability

ESG360 - Japan’s Electricity Shortages and Demographic Dilemmas in East Asia

We explore the greater than expected power demand in Japan and the impact of demographic changes in South Korea.

21 min video | September 2022

Sustainability

Insect Effect – Reinventing the World’s Food System

Clément Ray, CEO and co-founder of biotech company Innovafeed, told Nomura Greentech how the startup, which produces insect protein as a sustainable alternative to higher emission protein sources, is focused on building a zero waste agri-food chain.

4 min read | September 2022

Economics

Asia Recovery Interrupted As Recessions Loom In Europe, US

Asia’s growth cycle is nearing an inflection point. It’s a tale of an interrupted recovery in the region, even as we expect the US and Europe to slip into mild recessions soon.

4 min read | September 2022

Sustainability

How Companies Can Adapt to Counter Demographic Changes

Part 4 of our Nomura - University of Sheffield research on the social pillar of ESG in East Asia examines how diversity & inclusion, human capital and employee representation will inform South Korean company performance over the long-term

5 min read | August 2022

Sustainability

UK Green Retail Bonds Boost Sustainability Toolkit

The world’s first green bonds targeting retail investors are already spurring similar issuances globally.

5 min read | August 2022

Sustainability

Ice is Life – Averting a Climate Disaster

Lewis Pugh is an endurance swimmer, environmental campaigner and UN patron of the Oceans. He is the first person to complete long distance swims in every ocean of the world. He told Nomura Greentech how overfishing, pollution and warmer waters are threatening sea life.

5 min read | August 2022

Sustainability

Trash to Treasure – Funding Tomorrow’s Circular Economy Startups

Meghan Sharp, Global Head of Decarbonization Partners, a joint-venture between BlackRock and Singapore state-fund Temasek to invest in green companies, told Nomura Greentech how she is helping scale the low-carbon startups of tomorrow.

6 min read | August 2022

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Sustainability

ESG360 - Green Energy Stocks and Navigating Social Data

We take a look at the resilience of green energy stocks amid a broad-based stock market downturn in the first half of the year.

23 min video | August 2022

Sustainability

The Social Data Challenge for ESG in South Korea

Part 3 of our Nomura - University of Sheffield research on the social pillar of ESG in East Asia explores the challenges information providers face in gathering and interpreting data.

5 min read | August 2022

Technology

Quantamental Analysis Combines the Best of Both Worlds

Quantamental analysis is gaining popularity among the investing community

4 min read | August 2022

Sustainability

The Green Pivot - How an Energy Giant is Shifting To Renewables

Patrick Pouyanné, CEO of TotalEnergies, the French energy giant, told Nomura Greentech how he is pivoting the company away from oil towards renewables and how offshore wind has huge potential.

5 min read | July 2022

Sustainability

Decarbonizing Heavy Industry is Key to Climate Progress

Technological progress, policy incentives and investment will speed the decarbonization of heavy industry sectors to help the world reach net zero

3 min read | July 2022

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Sustainability

ESG360 - Why Focus on Employment Standards in ESG?

We discuss how how the best firms try to align their employees’ values and objectives with their own

0 min read | July 2022

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Central Banks

Fireside Chats - Japan: Will the BOJ Give Up on Yield Curve Control?

Our Japan economist and Global Macro strategist share their thoughts on how recent market conditions impact Japan and the BOJ's policy around yield curve control

26 min video | July 2022

Economics

We See More Major Economies Tipping Into Recession

In addition to the US, we now expect recessions in the euro area, UK, Japan, South Korea, Australia and Canada

3 min read | July 2022

Sustainability

Climate Disclosure Rules Will Trigger ‘Race to the Top’

A global push for mandatory climate disclosures will encourage companies to improve their environmental performance

3 min read | July 2022

Sustainability

Why India Needs to Accelerate Renewables Adoption

India has the world's second-largest population and its rapid growth rate and low per-capita energy consumption means an insatiable thirst for energy in the years ahead

4 min read | July 2022

Sustainability

Robotaxis Set to Revolutionize Auto Transport

There will be more change in the mobility industry over the next 10 years than the last 50 years combined

3 min read | July 2022

Sustainability

Why Focus on Employment Standards in ESG?

Part 2 of our research project between Nomura and the University of Sheffield on the social pillar of ESG in East Asia, highlights how the best companies align employees’ and the firm’s values and objectives.

4 min read | July 2022

Economics

US: Staring into the Void – A Recession is Now Likely

The Fed’s commitment to restoring price stability will likely push the economy into a downturn

7 min read | June 2022

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Central Banks

Fireside Chats - US Recession Risks

Our US economist and desk strategist share their thoughts on how risks around a recession in the US will impact markets

32 min video | June 2022

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Central Banks

MacroBrew - US: A Recession is Now Likely

The Fed’s commitment to restoring price stability will likely push the economy into a downturn

33 min podcast | June 2022

Economics

All Things Point to One Way for Inflation: Up, Says Richard Koo

Climate change is driving sharp increases in fossil fuel prices

3 min read | June 2022

Technology

Openness, Transparency are Key for Biotech Growth, Says Dr. Moore

US policy actions pose significant challenges to collaboration and investments

3 min read | June 2022

Technology

EV Adoption to Grow Exponentially Through 2035, Says Tu Le

EVs are expected to account for 50 percent of global car sales by 2035

3 min read | June 2022

Emerging Markets

It Could Be a Different Story for Asian Equities in the Second Half

With a valuation cushion, Asian stocks are relatively insulated from a US stock sell-off

5 min read | June 2022

Central Banks

Restoring Price Stability is Fed’s Primary Focus, says Clarida

Fed’s pace of rate hikes this year will depend on inflation

2 min read | June 2022

Japan in focus

There are missing links in Japan’s ‘new capitalism’, says Dr. Snow

Japan’s largest natural resource is the underutilized talent of Japanese women

3 min read | June 2022

Singapore is Building a Competent Workforce

As border restrictions are relaxed, tight labor market conditions could ease

2 min read | June 2022

Sustainability

ESG in East Asia: The 'S' Factor - What are the Key Social Principles?

Part 1: History and Social Principles

5 min read | June 2022

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Sustainability

ESG360 - The ‘S’ Factor in East Asia

A research project between Nomura and the University of Sheffield’s School of East Asian Studies to explore the Social pillar of ESG with a particular focus on measuring employment in South Korea.

18 min video | June 2022

Sustainability

Fixing the Problem with US Quality Investing – an ESG Approach

Adding ESG features to a portfolio of U.S. ‘quality’ stocks dramatically improves performance.

5 min read | May 2022

Sustainability

Gender-Related Finance Set to Accelerate Japan’s Sustainability Agenda

Investors and corporates are looking to finance to tackle gender inequality in Japan.

4 min read | May 2022

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Economics

Fireside Chats - Asia Insights: Taking the Temperature of Asia's Underlying Inflation

Our global economists share their thoughts on the state of Asia’s underlying inflation and what it means for the Macro outlook.

26 min video | May 2022

Emerging Markets

Russian Invasion of Ukraine to Turbocharge Renewables Deals

The Russian invasion of Ukraine could provide the 'jolt' that gives renewables the scale needed to deliver the EU’s climate policies

2 min read | May 2022

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Central Banks

Fireside Chats - The ECB & BOE: Earlier and Faster Hikes?

Our economist and desk strategist share thoughts on the materially new hawkishness from the ECB and the hot and cold approach of the Bank of England to monetary policy.

28 min video | May 2022

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Sustainability

ESG360 - Fixing the Problem with U.S. Quality Investing

In this episode of ESG360, Joe Mezrich, Nomura’s Head of Equities Quantitative Strategy, shares his insights on how to fix the underperformance of U.S. 'quality' investing.

13 min video | May 2022

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Economics

Fireside Chats – Asia Insights: ASEAN Border Reopenings

Our economist and fx strategist share their thoughts on fast-tracked border re-openings in Southeast Asia

26 min video | May 2022

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Central Banks

MacroBrew - Fed’s hawkish pivot despite peaking inflation

We discuss our US inflation outlook and Fed’s continuing hawkish pivot.

71 min podcast | April 2022

Economics

ASEAN: Border reopening 2.0 – Finally going somewhere

As Omicron subsides and travel restrictions ease, ASEAN countries have fast-tracked border re-openings

2 min read | April 2022

Technology

How Artificial Intelligence is Reshaping ESG Ratings

Some of the biggest global investors including Japan's Government Pension Investment Fund are using computer algorithms to gain deeper insights into the ESG effectiveness of companies they invest in.

4 min read | April 2022

Sustainability

Japan Retail Investors Embrace ESG Amid Pandemic, Nomura Survey Shows

The results of Nomura Securities’ December 2021 Individual Investor Survey reveal that Japan retail investors are increasingly interested in ESG-aligned financial products.

3 min read | April 2022

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Economics

MacroBrew - Thailand’s tourism recovery prospects this year

A conversation with Ms. Marisa Sukosol Nunbhakdi, President of Thai Hotels Association

60 min podcast | April 2022

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Sustainability

ESG360 - How War in Ukraine can Accelerate Renewables Adoption

In this episode of ESG360, we discuss Europe’s plan to reduce its reliance on Russian fossil fuels and what that means for the energy transition

22 min video | April 2022

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Economics

Fireside Chats - French Elections: Could Le Pen Win?

Our economist and desk strategists share their thoughts on the upcoming French presidential election with the first round this upcoming weekend.

26 min video | April 2022

Economics

India: External shocks, stagflation risks and policy trade-offs

Just as India was crawling its way out of the pandemic, the conflict in Europe, a hawkish Fed and China shocks have reignited macro uncertainties.

5 min read | April 2022

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Central Banks

MacroBrew - The Fed’s changing reaction function

The Fed and markets are reaching a potential inflection point. Fed participants are shifting towards a view that restrictive rates, beyond what they and markets have previously anticipated, will be needed to slow inflation. These conditions create an elevated risk of a mild recession in 2024.

60 min podcast | April 2022

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Central Banks

Fireside Chats - JPY Depreciation and the Possible Policy Risks

Our Japan economists share their thoughts on the recent JPY weakness and what we can expect ahead from policy makers.

26 min video | April 2022

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Sustainability

ESG360 - The EU’s Social Taxonomy, Climate Risks and ESG in Ukraine

We discuss recent developments in the EU's social taxonomy, how financial firms are managing climate risk and the ESG implications in Ukraine

24 min video | March 2022

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Economics

MacroBrew - FOMC preview and US economy update

Fed’s hawkish pivot will likely continue

68 min podcast | March 2022

Sustainability

How Innovative Financing Gave a Solar Deal Global Scale

Amp Energy, a global renewables developer, secured a unique $350 million credit facility that could double in size to help it develop solar projects spanning the globe.

3 min read | March 2022

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Sustainability

ESG360 - How Solar Power Can Fuel the Green Energy Transition

We discuss the future of solar energy as pressure builds on countries to reach net zero emissions goals

15 min video | March 2022

Sustainability

ASEAN Green Taxonomy: Decoding Sustainability in Southeast Asia

Southeast Asia, a region prone to nature’s wrath, is accelerating efforts to lay down a classification system that will promote transparency around green activities.

5 min read | March 2022

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Central Banks

Fireside Chats - US Growth, Inflation and The Fed Call

Our US economists share their thoughts for US growth, inflation and the big call on the Fed meeting.

32 min video | March 2022

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Central Banks

MacroBrew - Expert session: South Korea’s fiscal policy after the presidential election

We discuss impact of Covid-19 and fiscal response, outlook for fiscal sustainability in Korea and likely fiscal policy scenarios after the Presidential Elections.

58 min podcast | February 2022

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Central Banks

Fireside Chats - China's Zero COVID-19 Policy

Our economists and desk strategist discuss their thoughts for the ECB, the BOE, the RBA and rates markets.

32 min video | February 2022

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Central Banks

Fireside Chats - The ECB, BOE, and RBA Hikes Ahead

Our economists and desk strategist discuss their thoughts for the ECB, the BOE, the RBA and rates markets.

28 min video | February 2022

Sustainability

Trading with a Conscience Reaches the Dealing Floor

ESG is starting to influence the trading floor as desks from equities to currencies are being asked to justify their green credentials to win mandates.

3 min read | February 2022

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Sustainability

The EU's Green Taxonomy and the Rise of Social Bonds in Asia

Our guests discuss the EU’s controversial move to add natural gas and nuclear to its green taxonomy, and the increased issuance of social bonds driving change in Asia.

23 min video | February 2022

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Central Banks

Fireside Chats - The Covid 19 Endgame Part III: Lower Potential GDP Growth and Bankruptcies

The impact of Covid-19 on PGG varies across countries with emerging markets seem to be recovering from the pandemic at a slower pace than the advanced economies and thus appear more vulnerable to scarring effects and lower global potential GDP growth.

28 min video | February 2022

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Central Banks

MacroBrew - The BOJ’s Policy Stance

We discuss the BOJ’s policy stance, the path forward and the “noise” around monetary policy as global inflationary pressures build.

44 min podcast | January 2022

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Rates

MacroBrew - G10 FX: Events and themes in 2022

We discuss key events and themes to track in 2022, and how they might affect our views.

57 min video | January 2022

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Economics

MacroBrew - FOMC Preview and Implications for the Dollar in 30

We discuss our expectations from the FOMC and views on USD in the coming months.

27 min video | January 2022

Sustainability

China’s Net Zero Goal – Mapping the Decarbonization Path of Asia’s Superpower

China committed to net zero by 2060 but what will it take to reach that goal for the world’s biggest energy consumer?

5 min read | January 2022

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Sustainability

ESG360 - What to Watch in 2022

Charting the key trends shaping the world of sustainable finance as companies and countries strive to cut carbon emissions and make the world a fairer place.

28 min video | January 2022

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Economics

Fireside Chats - Japanese Macroeconomic Outlook and Market Strategies for 2022

Our Japan Macro and FX strategy team share their thoughts for Japanese markets in the year ahead

26 min video | January 2022

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Central Banks

Fireside Chats - The Covid 19 Endgame Part II: Inequality

Covid-19 has exacerbated income inequality, which could slowly build to big surprises in politics and as a result dramatically impact markets.

28 min video | January 2022

Sustainability

The 'S' In ESG: How Japan’s Employment Model Can be a Blueprint for a Post-Covid World

Japan’s brand of community capitalism is experiencing a renaissance that fits into today’s societies as companies grapple with incorporating social issues into their business models.

5 min read | January 2022

Economics

US 2022 Economic Outlook: Strong but Slowing Growth, Elevated Inflation and Policy Normalization

We expect strong but slowing growth, elevated inflation and accelerated Fed policy normalization

6 min read | January 2022

Economics

US Economic Weekly Update

Our weekly update of the developments and key themes around the US economy

1 min read | January 2022

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Sustainability

ESG NOW! - Highlights from Nomura’s 2021 Sustainability Forum

Nomura’s first global sustainable finance event addressed a full range of ESG topics from COP26 to the green energy transition and lessons from Japan’s employment model in a post-Covid world.

12 min video | December 2021

Sustainability

Nuclear Fusion Is the Dream of Clean Energy, Says Venture Capital Founder

Wal van Lierop, founder and managing partner at Chrysalix Venture Capital, told Nomura Greentech that nuclear fusion is needed to power the future of clean energy around the world.

5 min read | December 2021

Economics

Global Economic Outlook 2022 - The heat is on... for now

High inflation has central banks feeling the heat, but by late 2022 we see a very different backdrop, with stagnation a bigger risk than stagflation.

4 min read | December 2021

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MacroBrew - International Wealth Management Top Asset Allocation Themes 2022

Gareth Nicholson, CIO and Head of Discretionary Portfolio Management, International Wealth Management, shares the top seven asset allocation themes going into 2022.

28 min video | December 2021

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Central Banks

Fireside Chats – Global Economic Outlook 2022: The heat is on... for now

Our strategists share their top FX and rates views in 2022

30 min podcast | December 2021

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Economics

MacroBrew - Asia Outlook 2022: As the Tide Turns

Looking into 2022 - what to expect

60 min video | December 2021

Economics

Asia Outlook 2022: As the Tide Turns

We are cautious on Asia’s economic outlook in 2022 as the emergence of the Omicron variant reminds us that the pandemic is far from over.

2 min read | December 2021

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Economics

Fireside Chats – Top FX and Rates Views in 2022

Our strategists share their top FX and rates views in 2022

32 min podcast | December 2021

Economics

Nomura Investment Forum 2021: Japan Macro Outlook

Nomura’s Japan experts outline what’s on the horizon as the country’s economy approaches the endgame of the Covid-19 pandemic

3 min read | December 2021

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Sustainability

ESG NOW! Carbon Markets Panel Sees Huge Opportunity for Carbon Offset Funds

Panellists highlighted the important role and potential of carbon markets in the transition to net zero.

49 min video | December 2021

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Sustainability

ESG NOW! Finance Sector Can Drive Change, Says Former COP26 President O’Neill

Claire O’Neill speaks about the success of COP26 and the incredible opportunities and risks presented by the green energy transition

29 min video | December 2021

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Sustainability

ESG NOW! UN Oceans Patron Pugh - We are Set to Lose the World’s Coral Reefs

Lewis Pugh speaks about swimming in the coldest oceans to highlight climate change

29 min video | December 2021

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Economics

MacroBrew - A Conversation with Professor Shane Crotty, Ph.D.

How worried should we be about Omicron?

60 min video | December 2021

Sustainability

Sustainable Finance in Singapore: A Blueprint for the Region

Singapore’s public sector has spearheaded efforts to create a green financial centre

7 min read | December 2021

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Economics

Fireside Chats – ASEAN Insights: Could Tourism Disappoint?

Why is tourism in ASEAN is likely to disappoint ahead?

22 min podcast | November 2021

Sustainability

How Green is your ESG Fund?

Our analysis of popular ESG funds provides a toolkit to detect greenwashing and separate the most authentic green investments from the rest.

6 min read | November 2021

Economics

Damocles: Our Early Warning Indicator of EM Exchange Rate Crises

Four countries – Egypt, Romania, Turkey and Sri Lanka – are currently at risk of a currency crisis with Damocles scores above 100.

3 min read | November 2021

Sustainability

Emerging Markets Need $100 trillion of Sustainable Power, Says Global Investor Actis

Shami Nissan, Head of Responsible Investment at Actis, a leading emerging markets investor, told Nomura Greentech that developing countries need $100 trillion of sustainable energy over the next two decades to support economic growth.

4 min read | November 2021

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Central Banks

Fireside Chats - The Covid 19 Endgame

The endgame of Covid-19 leaves economists in a challenging position; in many ways, the outlook is more complicated now than it was at the onset of the pandemic.

28 min video | November 2021

Sustainability

The ESG Revolution – Opportunities and Challenges for Companies and Investors

As corporates grapple with the growing need to reduce emissions and minimize the environmental impact of their products and services, the demand for sustainable infrastructure is rising.

3 min read | November 2021

Sustainability

COP26 Review

COP26 highlights: debate on ending coal use, US-China agreement, 1.5°C target

5 min read | November 2021

Economics

Indonesia: Getting There on Tax Reforms

Tax reforms are expected to improve the government’s overall fiscal position, but does not address some longer term issues such as a high VAT coverage threshold.

3 min read | November 2021

Economics

The Covid-19 Endgame: Learning to Live With it

The endgame of Covid-19 leaves economists in a challenging position when making long-term forecasts. In many ways, the outlook is more complicated now than it was at the onset of the pandemic.

5 min read | November 2021

Sustainability

US Water Wars – How Climate Change is Driving Water Scarcity

Megadroughts in some US states could be a recurring phenomenon yet they offer a chance to revitalise a dated and inefficient water system.

7 min read | November 2021

Sustainability

COP26: What to Expect from the UN’s Climate Summit

Ahead of COP26 in Glasgow, five sustainability experts across Nomura reflect on the issues that will be discussed to help the global economy reach net zero carbon emissions and keep the planet below 1.5°C

8 min read | October 2021

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Central Banks

Korea: Japanification Risks Strike Again

Despite a faster-than-expected recovery from the pandemic, structural headwinds are expected to result in lower economic growth in South Korea.

28 min video | October 2021

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Sustainability

Nomura’s Jeff McDermott: Asia is Mission Critical to Address Climate Change

Jeff McDermott, Nomura’s newly appointed Global Co-Head of Investment Banking talks about the pressing need for Asia to decarbonize and how Nomura can be a force for good in transitioning companies to greener energy.

15 min video | October 2021

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Emerging Markets

MacroBrew - China Insights: Double shocks pose a risk of a growth double dip

In this Macrobrew@Nomura session we discuss China's outlook.

60 min video | October 2021

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Volatility

Fireside Chats - US Insights: Higher Inflation Ahead

Inflation expected to go higher in the near future, but will it last?

28 min podcast | October 2021

Sustainability

A Win for Nature: Rules to Tackle Biodiversity Loss Start to Emerge

The launch of a new taskforce to protect biodiversity, highlights human reliance on nature to the tune of $44 trillion, and promises to shift financial flows to limit the damage.

4 min read | October 2021

Economics

US: Evolving Political and Macro Developments to Limit Biden's Agenda

Declining popularity, elevated inflation and worsening intraparty disputes suggest a smaller Democrat-only fiscal package

3 min read | October 2021

Japan in focus

A Sleeping Giant: The Rise of Japan’s GSS Bond Market

Green, social and sustainability bonds in Japan are seen as instrumental in achieving the UN’s Sustainable Development Goals and addressing the nation’s social issues

5 min read | October 2021

Sustainability

Household Demand for Energy Independence to Boost Solar, Says Enphase CEO

Badri Kothandaraman, Chief Executive Officer at solar power company Enphase, told Nomura Greentech that the California blackouts and Texas shutdowns spotlight the advantage of energy independence for homeowners.

5 min read | October 2021

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Central Banks

Fireside Chats – Europe Insights: Does the energy crisis mean higher inflation ahead?

The latest surge in energy prices and what it means for inflation?

26 min podcast | October 2021

Sustainability

How New ESG Transparency Rules Will Unleash the Next Green Wave

Regulators across the world are revamping ESG disclosure rules to reduce greenwashing and catch up with demand from investors struggling to decipher how green their investments truly are.

6 min read | October 2021

Economics

The UK’s Petrol Crisis - an Inflation or Growth Concern?

To add to the UK’s energy challenges, the region is in the midst of a petrol crisis while oil prices are heading higher.

5 min read | October 2021

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MacroBrew - The vaccine, your immune system, and what’s next for Covid-19?

Professor Shane Crotty and his team at the La Jolla Institute in California study immunity against infectious diseases. They investigate how the immune system remembers infections and vaccines.

60 min video | September 2021

Economics

The “Troubled Ten” in EM

We warn of ten economies that appear most vulnerable: Brazil, Colombia, Chile, Peru, Hungary, Romania, Turkey, South Africa, Indonesia and the Philippines.

2 min read | September 2021

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Technology

Fireside Chats – APAC Tech Strategy: Growth opportunities in a post Covid-19 world

Asia's tech cycle and growth opportunities to watch.

26 min podcast | September 2021

Sustainability

How the World’s Largest Infrastructure Asset Manager Set a Net Zero 2040 Goal

Chris Leslie, Global Head of Sustainability at Macquarie Asset Management explains to Nomura Greentech how the Australian finance firm is well on track to be carbon neutral thanks to a shift in culture.

3 min read | September 2021

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Japan in focus

Fireside Chats – Japan Insights: Abenomics to Suganomics to…?

Outlook for Japan and markets ahead of the election.

30 min podcast | September 2021

Central Banks

Is the ECB calling the end of the pandemic?

The ECB looks set to conclude its pandemic response program (PEPP) and step up its asset purchasing program (APP) in its stead.

5 min read | September 2021

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Emerging Markets

MacroBrew - A conversation with BSP Governor Diokno

An outlook for the Philippines amid the latest Covid-19 wave, with guest speaker Benjamin Diokno, BSP Governor.

60 min video | September 2021

Sustainability

Making a Mark - The Emergence of Impact Finance

An unconventional branch of finance looks set to play a bigger role on the world stage amid a growing realisation that urgent action is required to meet climate targets.

5 min read | September 2021

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Volatility

Fireside Chats – China Investor Forum: Beijing’s ‘Volcker Moment’

China’s curbs on the property sector likely mean sacrificing short-term stability, but could pave the way for Beijing to pursue long-term growth

28 min podcast | August 2021

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Economics

Fireside Chats - Australia Insights: Antipodes at the mercy of another Covid-19 wave

How bad is the situation on the ground, and how did they get here?

24 min podcast | August 2021

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Economics

Fireside Chats – ASEAN insights: Under pressure

Covid-19 pressure causing a delay in ASEAN's economic recovery.

28 min podcast | August 2021

Sustainability

"Decarbonization is a Business Opportunity to be Maximized"

María Victoria Zingoni, Executive Managing Director at Spanish energy giant Repsol, told Nomura Greentech that the company is transforming its business by adding solar and wind farms to become net-zero by 2050.

7 min read | August 2021

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Economics

Fireside Chats - China Insights: Targeted tightening and universal easing

Is China approaching a slowdown?

30 min podcast | August 2021

Technology

Investing in the Art and Collectables Market: A $1.7 Trillion Asset Class

Investment in the art market, which has traditionally been limited to the ultra-wealthy, is now experiencing a shift in investor access and demand driven by securitization and technological improvements.

5 min read | August 2021

Central Banks

Indonesia: A Worrying Wave Hits Hard

The Indonesian government has introduced more stringent measures to tackle the resurgence of Covid-19 cases amid the spread of the delta variant and low vaccination rate.

2 min read | August 2021

Sustainability

AI for Stock Selection – the ESG Connection

We introduce a novel AI-based technique for rating company ESG quality. Our method employs a unique Natural Language Processing (NLP) approach to analyse earnings call transcripts, uncovering ESG-relevant narratives and extracting ESG signals we can use to guide stock selection.

4 min read | August 2021

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Volatility

VOW21: Best of Volatility of the World 2021

Key note presentations on 5 things you didn't know about ESG, the challenges facing post pandemic economies, the evolution of the sustainability mega-trend, and how pursuing ESG investments need not trash your portfolio.

2 min read | July 2021

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Economics

Fireside Chats - UK insights: The Great Reopening

The UK's outlook following mass easing of Covid-19 restrictions.

27 min podcast | July 2021

Sustainability

The New ESG Playbook

EU Sustainable Finance Rules Start to Take Shape

3 min read | July 2021

Emerging Markets

Thailand: The Long Road to a Tourism Recovery

Our TRIPTracker index indicates there's still a long way to go before tourist arrivals to Thailand recover.

3 min read | July 2021

Sustainability

ESG: Fad or Future?

As ESG investing gains momentum, we explore the factors that point toward this being more a genuine lasting shift than a short-lived fad

9 min read | July 2021

Sustainability

How can companies visualize invisible value?

Why investors need more than data...

2 min read | July 2021

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Central Banks

Fireside Chats - US Infrastructure: The Next Great Debate

Biden’s $1.2 trillion infrastructure plan, what to expect?

38 min podcast | July 2021

Economics

Introducing Cassandra: Our Early Warning Model for Financial Crises

Cassandra is currently highlighting six economies – including the US, Japan and Germany – that could be subject to a financial crisis in the next 12 quarters.

2 min read | June 2021

Sustainability

Paul Polman: Embedding ESG in Business is the Right Thing to Do

Businesses must move from corporate social responsibility to being responsible social corporations.

5 min read | June 2021

Economics

Nomura Investment Forum Asia: Asia Healthcare in a Post-Pandemic World

Covid-19 has prompted hospitals across Asia to increase the use of technology in the delivery of their services. It’s also a wake-up call for India to boost its healthcare infrastructure.

2 min read | June 2021

Economics

William Dudley: Recovery to be Sustained and Inflation to be Transitory

William Dudley, former President and CEO of the Federal Reserve Bank of New York, was a keynote speaker at this year’s Nomura Investment Forum Asia.

3 min read | June 2021

Central Banks

US Economy- A Closer Look at Inflation Expectations

Most measures of inflation expectations remain at a level consistent with the Fed’s 2% flexible average inflation targeting (FAIT) framework

3 min read | June 2021

Emerging Markets

Nomura Investment Forum Asia – Staying the Course With Asian Stocks Amid Near-Term Volatility

We expect strong earnings recovery this year for Asia ex-Japan equities and double-digit earnings growth in 2022.

2 min read | June 2021

Emerging Markets

Nomura Investment Forum Asia – 5G Rollout to Drive Revenue Growth at Chinese Telcos

The growing adoption of 5G networks among customers in China is expected to boost domestic telecom companies’ average revenue per user and mobile revenue growth.

2 min read | June 2021

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Central Banks

Fireside Chats - US & European Insights: Inflation, how far will it go?

Commodities and inflation are rising, how will they respond across the pond?

29 min podcast | June 2021

Economics

Nomura Investment Forum Asia – The Diverging Recovery Paths of Asia’s Biggest Economies

China, which staged a sharp rebound in economic growth could face downward pressure into the second half of the year. Japan's recovery hinges on the acceleration of its vaccination program.

3 min read | June 2021

Economics

Resilience of global M&A

Global M&A saw a marked increase in the wake of the pandemic, but is this rise here to stay, and if so in which sectors?

6 min read | June 2021

Sustainability

Carbon Pricing and Financial Markets: The cheapest most expensive commodity

Various approaches to carbon pricing have been trialled in financial and capital markets, illustrating major changes in Enterprise Value.

5 min read | June 2021

Emerging Markets

It’s the Decade to Double Down on Chinese Equities

It is time for global investors to recognize China's scale and complexity, consider it a separate asset class and dedicate more resources and funds to this market.

3 min read | June 2021

Rates

A Measured Approach to ESG Investing

An overlay technique of consensus-ratings to improve the ESG quality of portfolios

5 min read | June 2021

Economics

How are Supply Constraints Affecting the US Labor Market Recovery?

Taking stock and looking ahead

4 min read | June 2021

Economics

Covid-19: India’s Second Wave is a Humanitarian Rather than an Economic Crisis

India’s second wave has resulted in a hit to mobility, unemployment rates and economic activity.

2 min read | May 2021

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Japan in focus

Fireside Chats - Japan Insights: Mid-year Macro Strategy Outlook

We discuss the impact of this recent wave of Covid-19 infections.

35 min podcast | May 2021

Economics

China: How the North/South Divide Highlights the Credit Risk Disparity

The widening north/south divide could result in a vicious cycle of rising defaults and slower growth in northern China. Though we do not expect a national crisis, markets should be prepared for more defaults.

4 min read | May 2021

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Technology

Fireside Chats - Asia Insights: Is the world out of chips?

The Global semi-conductor chip shortage and impact to markets.

26 min podcast | May 2021

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Economics

Fireside Chats - Asia Insights: Will China’s North-South divide have multiple growth implications?

Outlook on China's North-South divide.

30 min podcast | May 2021

Economics

UK Housing Market: Boom or Bust?

An outlook for the UK's housing market, weighing the positives against the negatives

9 min read | April 2021

Sustainability

A new green finance paradigm

The pandemic has spurred a reset in values regarding social and environmental stewardship.

4 min read | April 2021

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Economics

Fireside Chats: Asia Insights: The surge in India’s Covid-19 cases, and its repercussions…

The surge in Covid-19, and it's impact on India's outlook

34 min podcast | April 2021

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Central Banks

The Risk of EM Central Bank Overreach

Which EM central banks are more at risk of falling behind the curve and of greater fiscal dominance?

65 min podcast | April 2021

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Economics

Fireside Chats - US Insights: Outlook for infrastructure and fiscal spending

What are Biden's plans for growth this year?

22 min podcast | April 2021

Economics

China: We See No Fiscal Cliff in 2021

With factors such as a moderate 2020 stimulus, tighter controls on property market financing and planned tapering, we believe China’s economy is unlikely to overheat.

2 min read | April 2021

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Emerging Markets

Fireside Chats – Asia Insights: Prospects for Indonesian and ASEAN economies.

Outlook for ASEAN economies.

27 min podcast | March 2021

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Emerging Markets

Fireside Chats – EM Insights: Which countries lie under the Damocles Sword?

Which Emerging Markets are at risk of an exchange rate crisis?

22 min podcast | March 2021

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Volatility

Fireside Chats – FX Insights: RMB – Bullish beyond the year of the Ox?

We see two key longer-term factors supporting RMB appreciation.

30 min podcast | March 2021

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Central Banks

Fireside Chats - BoJ and ECB Strategy Review: A New Direction?

How will the upcoming BoJ and ECB meetings impact monetary policy strategy and markets?

43 min podcast | March 2021

Economics

Japan begins discussions on carbon pricing framework

As part of global moves toward reducing carbon emissions, attention will likely focus on the debate surrounding carbon pricing in 2021.

3 min read | March 2021

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Economics

Fireside Chats – The Wonder Down Under: Lessons on life without Covid-19

What can we learn from Australia and New Zealand on life without Covid-19.

31 min podcast | February 2021

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Central Banks

India Budget: In Fiscal Activism, India Takes a Chance on Growth

With the return of fiscal activism, the baton of driving growth has passed from monetary policy to fiscal policy.

27 min podcast | February 2021

Economics

US: Domestic Priorities for the Biden Administration in 2021

Vaccine rollout, pandemic support and infrastructure investment will likely be top priorities

5 min read | January 2021

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Economics

Fireside Chats - UK Insights: Will the UK be the underdog story of 2021?

Will the vaccine rollout result in the comeback story of 2021?

40 min podcast | January 2021

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Emerging Markets

Fireside Chats – Asia insights: How is Asia extending its lead in the race to recovery?

Why are Asian economies going to be the outperformers of 2021?

3 min podcast | January 2021

Emerging Markets

China Financials: 2021F – A Year of Recovery

Under a potentially strong recovery, life insurers and banks in China are poised to enjoy the tailwinds of rising market interest rates.

2 min read | January 2021

Economics

Biden’s Green Shift and its Impact on Asia

A pillar of US President Joe Biden’s bid for the presidency was the radical reform of US environmental policy, but what will it mean for Asia?

3 min read | January 2021

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Economics

Fireside Chats - US Outlook: New Year, new President, new America?

What does 2021 hold for the USA?

3 min podcast | January 2021

Economics

US: 2021 Economic Outlook: Searching for normal

3 min read | January 2021

Economics

2021 Global Economic Outlook - A topsy-turvy recovery

The still-raging pandemic produced a unique recession in 2020, but what does the future hold?

4 min read | December 2020

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Central Banks

2021 Equities Outlook: ...it is more about 2022

In 2021, investors will likely focus on an eventual 2022 renormalization driven by potentially even better vaccines/therapeutics to help contain the spread of the virus.

17 min video | December 2020

Volatility

Biden gears up the US auto-industry to get back on a more sustainable track.

Given Biden's pledges to reform environmental policy what are the likely repercussions for the auto industry?

4 min read | December 2020

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Central Banks

Asia Outlook 2021 – Bracing for Reflation

We are overall quite positive on the outlook for Asia in 2021, with an above consensus GDP growth rebound.

6 min read | December 2020

Sustainability

Social Impact Investing Looks Set to Rise in ASEAN

ASEAN countries have made significant advances in reducing poverty and improving human development but improvements in gender equality and social mobility have been slow.

4 min read | December 2020

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Fireside Chats: 2021 Outlook – Global restoration, converting hope into reality.

Our Global outlook for 2021.

39 min podcast | December 2020

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Emerging Markets

Fireside Chats: 2021 Outlook – Asia, a year for Suganomics, China’s growth, and good fortunes?

What will 2021 mean for Asia's outlook?

30 min podcast | December 2020

Technology

China’s Dual Circulation Strategy: A Tale of Chips Versus Homes

Dual circulation strategy is a combination of import substitution and domestic demand expansion. It seems to be a natural growth strategy for China.

2 min read | December 2020

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Volatility

Fireside Chats: 2021 Outlook - Global FX Strategy, overcoming political hurdles.

What will 2021 mean for FX markets?

28 min podcast | December 2020

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Economics

Fireside Chats: ESG Insights – ESG’s star performance in 2020, its role in bank capital issuance, & what’s next?

After a record year of issuance, what's next for ESG?

37 min podcast | December 2020

Sustainability

Classification of Risks Is Key to Tackling Climate Change

Absence of clear standards makes analyzing the financial risk differential between green and brown assets challenging for financial institutions.

5 min read | December 2020

Economics

Can you put a price on pollution?

Growing recognition of the criticality of decarbonising the world’s economies has lead to Carbon Pricing, but how does it work?

3 min read | December 2020

Central Banks

Thailand: The Economic Fallout of Political Protests – This Time is No Different

Student-led protests have resumed in Thailand, demanding constitutional changes and reforms to the monarchy.

3 min read | December 2020

Volatility

How the UK Economy is fast becoming the runt of the G10 litter?

Will the UK be able to vaccinate itself against a weakening economy?

3 min read | November 2020

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Emerging Markets

Fireside Chats – Asia Insights: China’s Dual Circulation Strategy; clear aim, tricky implementation.

Is China becoming more self-sufficient?

3 min video | November 2020

Economics

Emerging Markets’ Quantitative Easing Amid Rising Investor Discrimination

Analysis of the rapid growth in 20 EM central bank balance sheets and show how 10 are now larger than that of the US Fed (relative to GDP).

3 min read | November 2020

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Emerging Markets

Fireside Chats – Asia Insights: How do the Thai protests tie into the Thai economy?

How much of an impact are the recent protests having on the Thai Economy?

34 min video | November 2020

Economics

Asia under Bidenomics

Following the recent US elections, we explore the likely impact of Biden’s policies on Asia’s economies.

10 min read | November 2020

Economics

Highlights from Nomura ESG Conference 2020

The global pandemic and increasing severity of climate change are redefining how risks are managed and opportunities captured in the financial sector. Our inaugural ESG conference on October 21-22, 2020 took a deep dive into these areas and the sustainable finance trends shaping the decade ahead, with a focus on Asia.

7 min read | November 2020

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Volatility

Fireside Chats – FX Insights: USD and CNY, how are 2 sides of different coins dealing with recent volatility?

How are FX markets dealing with the recent volatility?

3 min podcast | November 2020

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Economics

Fireside Chats - The 2020 US Election: Initial results are in, but how's Joe biding his time?

Our US Economics team on what to make of the US election results.

31 min podcast | November 2020

Economics

Japan: Side effects of support measures for corporations

Companies overcoming cash flow issues caused by the pandemic may have to curb capex due to rising debt

2 min read | November 2020

Economics

The 2020 US Presidential Election - What to know?

With less than a week till Election Day, we've highlighted the key policies, swing states, probabilities, events and more to keep in mind.

3 min read | October 2020

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Economics

Fireside Chats – Euro Area Outlook: How is Europe riding the second wave of Covid-19?

Our European Economics team, discuss the key lessons to be learnt from new Covid-19 outbreaks.

3 min podcast | October 2020

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Emerging Markets

Fireside Chats – Emerging Markets FX Insights

Is Indonesian 'helicopter money' keeping their economy aflight?

26 min podcast | October 2020

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Volatility

Fireside Chats – Cross Asset Desk Strategy: A market focused on the upside

What's driving Global risk sentiment?

47 min podcast | October 2020

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Volatility

Fireside Chats – The world after Covid-19: Behaviour changes, and income inequality

In this episode of our Fireside Chats series, we are talking with Aichi Amemiya, our US Economist, on the world after Covid-19

3 min podcast | October 2020

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Economics

Fireside Chats – The 2020 US Election: Trump vs Biden, who will be ‘shut up’ for good?

We talk with Robert Dent, from our US economics team, on the outlook for the US after the first TV debate.

17 min podcast | October 2020

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Economics

Indonesia: Thoughts on Emerging Policy Challenges and Risks

In this webinar, we discuss recent major developments in Indonesia including lockdown measures re-imposed in Jakarta.

56 min video | September 2020

Economics

Economic Policy under a Biden Administration

If Biden wins in November, he is likely to usher in a new set of US economic objectives and policies.

4 min read | September 2020

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Japan in focus

Fireside Chats – Japan Outlook: Abenomics without the Abe?

With a change in leadership after the resignation of Prime Minister Shinzo Abe, what's next for Japan?

17 min podcast | September 2020

Economics

Why have European retail sales recovered so strongly?

Since lockdowns began to be lifted different sectors across Europe’s large economies have performed in different ways. But retailing – almost universally across developed markets – has rebounded at a far quicker pace.

3 min read | September 2020

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Volatility

Fireside Chats - The 2020 US Election: What would a Biden win mean for the dollar?

What would the 2020 US election mean for FX markets?

18 min podcast | September 2020

Central Banks

Is the ECB playing catch up with the Fed?

Will the European Central Bank follow in the Fed’s footsteps and implement average inflation targeting?

5 min read | September 2020

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Economics

Fireside Chats - The 2020 US Election: Economic Policy under a Biden Administration?

In this episode of our Fireside Chat series we are talking with Lewis Alexander our Chief US Economist on the 2020 US election.

32 min podcast | September 2020

Japan in focus

Case study: More important than ever: why ESG investment will remain crucial

6 min read | September 2020

Sustainability

The Covid-19 Crisis will Accelerate the Adoption of ESG Policies

Demand for sustainable finance solutions and products will accelerate beyond pre-crisis expectations.

6 min read | September 2020

Economics

More important than ever: why ESG investment will remain crucial

ESG investment in Japan is taking off, attracting intense demand from institutional investors. Financing ESG projects has moved from simple green loans to a highly diversified range of products, in which Nomura has a long history of innovation.

4 min read | August 2020

Geopolitics

Covid-19 a blessing in disguise for climate change?

We look at 6 ways that COVID-19 has helped address key issues in climate change.

4 min read | August 2020

Economics

Deglobalization: The past and future

The tide of deglobalization is reshoring and gathering momentum, who is set to benefit?

3 min read | August 2020

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Economics

Fireside Chats - The World After Covid-19: Where do we go next?

Have Governments and Investors reached their limits?

21 min podcast | August 2020

Emerging Markets

China Education: Embracing the Online Boom

The online education industry in China has great growth potential, with market size expected to double in five years.

2 min read | August 2020

Economics

Japan's path to normalization after pandemic

Nomura forecasts real growth outpacing potential growth during normalization

2 min read | August 2020

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Central Banks

The world post Covid-19 (part 2)

The world remains in the grip of Covid-19, but the pandemic can also serve as a catalyst for change that can shape the world for decades to come.

29 min video | August 2020

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Economics

Fireside Chats - The World After Covid-19: What can we expect?

Will Climate Change, food security and social life return to a new normal?

34 min podcast | August 2020

Economics

Diversification from China: The push and pull factors

What are the Global implications of diversifying from China?

3 min read | August 2020

Geopolitics

Government debt - a new paradigm?

For economies to stay afloat, historic amounts of fiscal and economic stimulus have been provided, but how will this sovereign debt be repaid?

2 min read | August 2020

Technology

The Rise of eSports: An already growing ecosystem now accelerated by current events

The eSports ecosystem and related industries are expected to grow even after the current pandemic we are experiencing passes.

5 min read | August 2020

Central Banks

The world post Covid-19

The world remains in the grip of Covid-19, but the pandemic can also serve as a catalyst for change that can shape the world for decades to come.

3 min read | July 2020

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Economics

Fireside Chats - The EU recovery fund: The what, the why, the how?

In this episode of our Fireside Chat series Jordan talks with Marco Brancolini from our EUR rates desk strategy team on the EU recovery fund.

21 min podcast | July 2020

Economics

China: Estimating Recovery Momentum from the Supply Side

The Chinese economy is still a long way away from a full recovery, and it is too early for the PBoC to reverse its stance on policy easing.

2 min read | July 2020

Japan in focus

Japan’s post-Covid growth strategy and action plan

Deliberations on post-Covid Japan to get underway in late July, and interim review of the action plan is expected by end-2020.

2 min read | July 2020

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Emerging Markets

Fireside Chats - Asia's Emerging Markets: The best of a bad bunch

The state of Asia's Emerging Markets and how they got there.

18 min podcast | July 2020

Volatility

FX Options: Embracing the Potential of Platforms

Regulatory requirements, clients’ drive for efficiency, and the experience of working from home during the COVID-19 pandemic are spurring a shift of FX option activity to platforms.

3 min read | June 2020

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Economics

Fireside Chats - The 2020 Presidential Election: What will it mean for markets?

In our latest Fireside Chat episode we discuss the impact of the 2020 US Presidential election will have on our market outlook.

28 min podcast | June 2020

Japan in focus

Japan’s first digital bond offering using blockchain technology

NRI issues Japan’s first bond offering using blockchain technology through “ibet,” a new open source blockchain platform developed by BOOSTRY, NRI’s joint venture with Nomura Holdings.

4 min read | June 2020

Technology

Nomura Investment Forum Asia: Covid-19 will Reshape Global Auto Industry

As with most other industries, the lockdowns imposed due to Covid-19 have resulted in a change in global commuting patterns. Is the worst behind us?

4 min read | June 2020

Economics

Nomura Investment Forum Asia: ESG Perspectives

With Covid-19 being a common factor affecting the economy across industries, we also take a look at its impact on capital markets and what that means for sustainable finance.

4 min read | June 2020

Technology

Nomura Investment Forum Asia: Asia Healthcare Post Covid-19

Unsurprisingly, the hospital sector is one of the industries that has been most impacted by the Covid-19 outbreak. Our analysts specializing in this sector tell us how countries such as China, ASEAN and India have been dealing with the pandemic and what can be expected in the future.

3 min read | June 2020

Economics

Nomura Investment Forum Asia: Asia Equities Market Outlook

During our virtual Nomura Investment Forum Asia conference this year, our equity strategists explain what the outlook of Asia equities will be in the near future.

2 min read | June 2020

Economics

Nomura Investment Forum Asia: Global Economic Outlook Post Covid-19

During our virtual Nomura Investment Forum Asia conference this year, our economists explain what the global economy is going to look like in light of Covid-19 and other global events such as the United States election.

3 min read | June 2020

Economics

Gauging the Risk of a Second Wave of Covid-19

We develop a visual tool to assess the risk of a Covid-19 second wave as economies reopen, applying it to 10 US states and 45 major economies.

2 min read | June 2020

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Volatility

Fireside Chats - Forecasting a second wave of Covid-19

Is mobility data the next tool in the fight against Covid-19?

18 min podcast | June 2020

Volatility

Sector challenges driving the rise of Convertible Bond issuance

Companies and investors set to benefit from new issuance of convertible bonds as they provide flexible finance solutions to corporates and high returns to investors.

1 min read | June 2020

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Emerging Markets

Fireside Chats - How are Asia's Emerging Markets supporting the bottom of the pyramid?

In this week’s episode Euben Paracuelles discusses how some Asia's EMs are coping with the impact of the COVID-19.

16 min podcast | May 2020

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Economics

Fireside Chat - The Wonder Down Under: How have the Antipodes dealt with Covid-19?

How have the Antipodes navigated COVID19 so well, and what are the next steps for their economy?

18 min podcast | May 2020

Economics

US: Updating our Forecast as the Covid-19 Outbreak Matures

Different ways to think about the contraction and the long road to recovery

4 min read | May 2020

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Volatility

Fireside Chats - What does the US Treasury Foreign Exchange report mean for FX markets?

Craig Chan our Global Head of FX Strategy discusses what his thoughts are for the upcoming US Treasury FX report

9 min podcast | May 2020

Economics

World after reopening and ideas for Japanese equities

Basic strategy likely to involve shift to sectors with high intrinsic growth rate (alpha)

3 min read | April 2020

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Central Banks

Fireside Chats - US Updated Outlook: What's left in the FED's toolbox to fight Covid-19?

Jordan Rochester and our Chief US Economist Lewis Alexander discuss how the FED intends on combating Covid-19

20 min podcast | April 2020

Economics

Damocles Update 3: Our Early Warning Indicator of Exchange Rate Crises

Damocles is based on a noise-to-signals approach in which we use eight key indicators to predict currency crises in 30 emerging market (EM) countries; this approach has correctly predicted 67% of the 54 crises since 1996.

1 min read | April 2020

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Economics

Fireside Chats - Big stimulus in the pipeline, but China won’t rescue the Global economy again

In this episode of our Fireside podcast series Jordan Rochester and our Chief China Economist Ting Lu discuss the outlook for China.

24 min podcast | April 2020

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Economics

Fireside Chats - Europe’s next response to Covid-19

Our Chief Euro Area Economist George Buckley and FX Strategist Jordan Rochester discuss what the future holds for Europe under lockdown.

19 min podcast | April 2020

Economics

The Global Economic Impact of Covid-19

Our weekly update on the global economic impact Covid-19 has had on GDP, and provide their base, good and bad scenarios.

3 min read | April 2020

Central Banks

Will Covid-19 tip the Japanese economy into recession?

Japan's senior society facing severe economic cycle

3 min read | March 2020

Economics

Upturn in global IT cycle and the Japanese economy

Attention is focusing on the global IT cycle following the launch of commercial 5G services. Global semiconductor sales bottomed out in 2019 H1 and recovered in the summer.

4 min read | February 2020

Central Banks

2020 US Outlook: Extending a long expansion

Extending a long expansion

3 min read | February 2020

Economics

Event Risk Radar

The top market moving events that should be on your radar. Including the US Presidential election, trade talks, rate cuts & QE, Brexit and budgets, and green shoots in market survey data.

5 min video | January 2020

Technology

Asia Pacific Technology: The Bull Phase to Continue in 2020F

We expect upstream companies to be more attractive in the tech sector in 2020.

1 min read | January 2020

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Central Banks

UK and Euro Area Outlook 2020

New year, new decade, new risks?

2 min read | January 2020

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Central Banks

Global Economic Outlook 2020: On Shaky Foundations

Global growth appears set to bottom out. However, we expect 2020 to be a year of global growth consolidation than a full-fledged recovery.

17 min video | January 2020

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Central Banks

UK Outlook 2020

How will the UK fair amongst some Brexit clarity, will 2020 be the year of recovery?

1 min read | January 2020

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Central Banks

Brexit & FX Outlook 2020

Will this New Year mean a New Brexit?

2 min video | January 2020

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Economics

Euro Area Outlook 2020

What's in store for the Euro Area as we move into 2020?

2 min video | January 2020

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Economics

Nomura Investment Forum Tokyo featured article: US-China conflict reshaping global trade order

5 min video | December 2019

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Economics

Nomura Investment Forum Tokyo featured article: Japan’s Economy in 2020 - Making the Case for Cautious Optimism

We expect Japan to remain on a path of “steady but slow” economic growth in 2020.

1 min video | December 2019

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Economics

Preparing for the Next Surge in Food Prices

After surging in 2010-11, global food prices have been on a downtrend, but this can quickly change.

5 min video | December 2019

Economics

How and why is France one of the Euro Area’s star performers?

Among its struggling European peers, how has France managed to stay ahead of the game?

3 min read | November 2019

Japan in focus

Quantum Computer Research of Nomura Asset Management

NAM’s Innovation Lab Department and the Graduate School of Information Sciences, Tohoku University explore practical application of quantum computers especially in the machine learning field.

4 min read | November 2019

Central Banks

India: A Difficult Climb Ahead

Contrary to our expectations of a recovery starting in Q3, high-frequency indicators have plunged and domestic credit conditions remain tight amid weak global demand. As a result, India’s economic recovery is expected to be delayed and the subsequent pickup is expected to be sub-par.

2 min video | November 2019

Unconventional Monetary Policy: Who’s Next?

A decade on from the Great Recession, UMP is becoming more conventional.

4 min video | November 2019

Technology

Does eFX still require a human touch?

Client demands for speed and efficiency, coupled with regulatory pressure for transparency, will continue to drive the growth of electronic trading, including trading of more complex products

4 min read | November 2019

Technology

What will be the role of quantum computing in the future of finance?

Tech giants like Google and IBM are racing to be the first ones to create the next generation of supercomputers, but how will they impact the world of finance?

2 min read | October 2019

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Central Banks

Indonesia: The Return of Fiscal Conservatism

2 min video | October 2019

Sustainability

Innovation driving Asia’s healthcare ecosystem

Asia's healthcare sector has been deploying innovative strategies that are transforming the industry and creating new investment opportunities.

6 min read | October 2019

The Japanese Garden Story

Where has the East met the West to create beautiful gardens

2 min video | October 2019

Central Banks

Risk of BOJ taking Rates Further into Negative Territory and Investment Strategies

Expectations are growing that the BOJ will decide to further loosen monetary policy.

5 min read | October 2019

Volatility

What's the impact of Brexit on the UK Auto Industry?

We update and expand the scope of our analysis for the impact for global automakers, and the intensity of the fallout from a hard Brexit.

2 min read | October 2019

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Emerging Markets

Nomura's Commitment to Infrastructure and Power Finance

The Infrastructure and Power Finance (IPF) team is dedicated to providing capital solutions for energy, infrastructure and related assets.

2 min video | September 2019

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Japan in focus

Japan 2030

Nomura supported the Economist Intelligence Unit (EIU) in the creation of a deep dive podcast series looking into the future of Japan and where their culture, economy, and government will be by 2030 and beyond.

20 min podcast | September 2019

Economics

Nearing an Inflection Point: Preparing for a Change in Global Growth Velocity

We have been downbeat on the global economic outlook, primarily due to our views on US-China trade frictions. Prior to the trade truce in Osaka, we established our base case in which the US imposes 25% tariffs on all Chinese imports and China retaliates before the end of the year. We stand by this forecast as tariff threats continue to escalate.

2 min read | September 2019

Economics

Is the US on the verge of a recession?

With clear signs that the US economy has slowed, growing trade tensions rising, and new signs that global growth is slowing, is a US recession around the corner?

4 min read | September 2019

Technology

What will be the role of quantum computing in the future of finance?

Tech giants like Google and IBM are racing to be the first ones to create the next generation of supercomputers, but how will they impact the world of finance?

2 min read | August 2019

Hana

The Japanese connect with horticulture in a deeply spiritual way. From fleeting Spring time celebrations to ancient traditions, the well-tended garden is something of great reverence for the Japanese.

| August 2019

Japan in focus

Bonsai: A miniature view of global markets

Bonsai trees and shrubs encapsulate the serenity of Japanese culture. But these miniature wonders require diligence, commitment and attention to detail. Even a casual observer can appreciate the painstaking processes that underlie bonsai’s simple beauty.

3 min read | August 2019

Bonsai: How horticultural, technical and artistic expertise delivers excellence

Every tree starts with a seed or a cutting. And a bonsai, while timeless and breath-taking, is just the same.

3 min read | August 2019

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Japan in focus

The Bonsai Story

As a pillar of Japanese culture, few things bring peace and enlightenment to the Japanese more than bonsai. In fact, some believe they have been ‘chosen by bonsai’ and feel great privilege and a deep responsibility to be a caretaker for an ancient and highly revered practice.

3 min video | August 2019

Bonsai

The dedication and pursuit of excellence that is inherent in caring for bonsai has taken root with Western horticulturalists and the sometimes spiritual routine that accompanies these tasks, has inspired a flourishing bonsai obsession, especially in the United Kingdom.

| August 2019

Japan in focus

Bonsai: Why long-term commitment and vision underpins their beauty

Japan’s ancient bonsai tradition, where miniaturised shrubs and trees are grown in pots for many hundreds of years, creates a noble plant that, by definition, has withstood the test of time.

4 min read | August 2019

Central Banks

Japan: conditions for more BOJ easing and implications

Expectations have been mounting for a policy response by the BOJ, including further easing. What will trigger strong calls for the BOJ to respond? What are the possible policy options and implications to the markets?

3 min read | July 2019

Blockchain - disrupting the world of finance one distributed ledger at a time

A financial future built on distributed ledger technology, will blockchain take a bite out of banking complexity?

1 min read | July 2019

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Central Banks

Asia Mid-Year Equities Outlook 2019

The major theme that we are expecting for the second half of 2019 is something the Japanese call “Naibu Henka”, which translates to “internal change”.

3 min video | July 2019

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Japan in focus

Horticulture

The West has a growing fascination with Japanese gardens. Explore the strong connection between the East and West and how the collaboration has created some beautiful gardens.

| July 2019

Central Banks

Are the Major Central Banks Trapped?

The policy reaction function of many of the world’s major central banks looks to have changed and a number have yet again made a dovish shift. We argue that these central banks could be “trapped” in an ultra-loose monetary policy stance and are losing their ability to normalize policy.

2 min read | July 2019

Central Banks

Global midyear economic outlook 2019

Central bankers step up to the plate as the tug-of-war between monetary easing and rising business uncertainty is set to intensify.

4 min read | July 2019

Economics

Damocles Update: Who is at Risk?

Damocles is based on a noise-to-signals approach in which we use eight key indicators to predict currency crises in 30 emerging market (EM) countries; this approach has correctly predicted 67% of the 54 crises since 1996.

3 min podcast | July 2019

Emerging Markets

China Video Surveillance: Secure Ground in the Homeland

For video surveillance companies in China, we believe there are a few ways to increase sales growth momentum: the first is to expand the market from video surveillance to the more broad-based security product market by providing access control, intruder alarm systems and physical security and other security-related products and services.

2 min read | July 2019

Economics

US-China Trade Diversion: Who Benefits?

The ongoing and escalating US-China trade friction is no doubt negative for the world economy.

2 min read | June 2019

Central Banks

NIFA featured article - Will the Renminbi Crack Seven?

The downward pressure on the renminbi since last June is a function of market sentiment rather than the trade dispute, with the slowing of China's growth last year driven entirely by domestic factors.

5 min read | June 2019

Economics

NIFA featured article - New Equilibrium: US-China Tensions and the Fate of Free Trade

5 min read | June 2019

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Technology

NIFA featured article - Reaping the Big-Data Dividend: Why China Stands to Gain most from AI

AI is predicted to add USD15.7 trillion to global GDP by 2030. While North America is expected to receive nearly a quarter of this windfall, China’s economy will account for USD7 trillion, positioning it as a prime beneficiary of the AI boom.

4 min read | June 2019

Central Banks

NIFA featured article - Out of Ammo: Why the Next Slowdown may be Difficult to Counter

The biggest risk currently facing the global economy is the lack of sufficient tools – both fiscal and monetary – available to policymakers to counter another downturn.

4 min read | June 2019

Economics

Japanese economy to remain at low ebb

Our main scenario is that recession and additional policy response will be avoided

3 min read | June 2019

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Central Banks

Highlights from Nomura Investment Forum Asia 2019

1 min read | June 2019

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Technology

Dealing with Digital Transformation

Digital transformation is today commonplace in the traditional financial sector, which is under increasing pressure to create products and services valued by clients and deliver a better customer experience to compete against new technology enabled new entrants.

6 min video | May 2019

Economics

What Drives the Oil Price Rise Matters

We found that a sustained rise in oil prices affects emerging markets more than developed markets, and can drive major differentiation in EM economic performance. In the event that oil prices continue to rise, there are likely to be clear winners and losers in EM.

2 min read | May 2019

Oishii

Is the unique connection between East and West at a London ramen restaurant and a Japanese-inspired English craft brewer a symbol of the future UK-Japan relationship?

4 min video | May 2019

What do Japanese gardens tell us about financial markets?

We identify the 6 key themes between banking and horticulture.

2 min read | May 2019

Sakura

The West has a growing obsession with sakura, dating back to the early plant hunters. Through sakura, there has been a strong connection between the East and West,

| May 2019

Technology

How will asset managers survive in a data driven world?

Asset management’s next phase of disruption has arrived with big data creating the imperative for a radical re-imagination of technology in the investment processes.

6 min read | May 2019

Stories

Every Spring, Japan is awash with cherry blossoms – a symbol of hope for the year ahead. Through sakura, there has been a strong connection between the East and West since the 1600s with the exotic blooms now abundant in English gardens.

| May 2019

Economics

China Home Appliances: Structural Positives, Near-Term Challenges

In view of a slower economy, overseas exposure has naturally become the key differentiator that will help home appliance makers arrest the growth slowdown, despite our cautious take, on the effectiveness of the forthcoming nationwide incentive package on home appliance sales.

2 min read | April 2019

Volatility

Low volatility, but can it last?

Apart from Brexit, US-China trade talks, and the potential for Fed cuts, one of the big themes of 2019 thus far has been the surprising state of market volatility.

9 min video | April 2019

Economics

Chinese Hog Cycle and Inflation

While Beijing’s policymakers are trying to boost growth by ramping up monetary and fiscal stimulus, the last thing they want is a rapid rise in inflation.

2 min read | April 2019

Economics

What does rising household debt mean for the UK economy?

While household debt outstrips incomes across the country, is the UK unusual among its peers?

2 min read | April 2019

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Central Banks

Australia in 2019: Soft Growth, Falling House Prices and RBA Rate Cuts

2 min video | April 2019

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Economics

Ten years after the financial crisis: a more stable financial system with new risks

2 min video | March 2019

Economics

Asia Top Ideas Breakfast Series

On March 8, 2019, some of our top alpha generating analysts came together to share their latest views for the coming 2Q19 quarter in different industries including, energy, transportation, gaming and technology, to name a few.

13 min podcast | March 2019

Economics

India: the 'Frown Curve' – why Politics and Economics don’t Always Smile

Is good economics also good politics? It could be argued that the experience of the past two decades suggests an inverted-U (a frown) relationship between the degree of populism and the electoral success.

2 min read | March 2019

Technology

Demystifying blockchain technology: what you need to know

From its inception a decade ago, blockchain is now one of the most disruptive technologies in the modern digital economy and is on the verge of impacting many industries.

5 min read | March 2019

Emerging Markets

ASEAN internet: Opening up the mobile wallet

ASEAN gross transaction value of mobile payments is expected to rise to USD109bn in next 10 years.

2 min read | February 2019

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Volatility

Global Asset Allocation Outlook 2019: What does a slowdown regime mean for markets?

We’ve seen the market shift regimes where growth is heading sub-trend. The lack of policy maker ammunition may trigger more unconventional policies

1 min read | February 2019

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Volatility

Europe in 2019: What will drive a recovery this year?

Our European Outlook looks at what will drive recovery in Europe in 2019.

3 min video | February 2019

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Volatility

The UK in 2019: Why are global investors optimistic about the UK?

Our UK 2019 outlook looks at how the UK still remains attractive to international investors despite Brexit uncertainty.

1 min read | February 2019

Central Banks

How will BOJ respond to calls for more easing?

Out of the limited number of options available, what method can the BOJ use?

2 min read | February 2019

Search

| February 2019

Central Banks

RBA Growth Downgrades are Coming: is Australia’s Luck Running Out?

Many are wondering whether Australia’s luck is running out, amid slower global and regional growth, tightening financial conditions and falling local house prices.

1 min read | January 2019

Emerging Markets

Spearheading game-changing East-West M&A deals as Asia’s leading investment bank

Asian M&A shows no sign of abating — even despite the fluctuating geopolitical environment. As the only global investment bank anchored in Asia, Nomura is strongly positioned to advise companies aiming to close significant, value-accretive transactions that cut across borders and jurisdictions.

2 min read | January 2019

Asia: Top 5 articles from 2018

As we move swiftly into 2019, see the most read articles from 2018.

1 min read | January 2019

Central Banks

Japan outlook 2019: gradual economic slowdown to continue

The recovery in Japan's economic activity is still rolling on, but the growth momentum is likely to weaken

2 min read | January 2019

Technology

APAC Technology: is there Light at the End of the Tunnel?

Due to various macro and micro issues (US-China trade war, US fed aggressive rate hike, sluggish IT demand, Intel CPU shortage), there has been a slowdown in demand from 2H18

4 min read | January 2019

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Economics

Equity Markets in 2019: Soft Power Matters

As we approach 2019, we see a slowdown in economic growth rates across the region, but we can also expect some structural changes in the way investors view Asia, such as the China market. Traditionally, investors have looked at China in the context of Asia ex-Japan. However, our projections suggest China will be the biggest component of Asia-Pacific, superseding Japan as the biggest market in the region by 2023. Jim McCafferty, Head of Equity Research AEJ, talks about the forecast of the equity markets in 2019.

2 min video | December 2018

Emerging Markets

Asia FX and rates outlook 2019

We believe the performance of Asia FX/local markets over the coming year can be categorized into three episodes.

0 min video | December 2018

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Central Banks

India Outlook 2019: Elephant to Lose Stamina

Lower oil prices have created a positive environment for India, but we are downbeat on the economic outlook as we expect the economy to transition from a growth sweet-spot in 2018 to a soft patch in 2019. India economic outlook 2019.

1 min video | December 2018

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Economics

Korea Outlook 2019: Expect a Counter-Cyclical BOK Policy

We believe Korea’s economic cycle will enter and remain in a contraction phase in 2019-20, as we expect real GDP growth to slow from 2.7% in 2018 to 2.5% in 2019 and further to 2.3% in 2020 – below our estimate of the economy’s potential growth of 2.8%. More on our Korea Outlook here.

2 min video | December 2018

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Economics

ASEAN outlook 2019: split into two camps

As the ASEAN-5 emerge from a difficult 2018, we see a divided growth outlook in 2019. Indonesia and the Philippines, in our view, will be bucking the global trend with accelerated GDP growth, while Malaysia, Singapore, and Thailand, will all be slowing due to weaker exports and structural constraints.

2 min video | December 2018

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Economics

China outlook 2019: after winter comes spring

As the Chinese saying goes, “After endless mountains and rivers that leave doubt whether there is a path out, suddenly one encounters the shade of a willow, bright flowers and a lovely village. (山重水复疑无路,柳暗花明又一村)”, China’s economic condition is expected to face a difficult H1 2019 before the rebound in H2.

4 min video | December 2018

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Economics

Asia in 2019: Always Darkest Before the Dawn

Our 2019 GDP growth forecasts are not too different from the streets – while we are more downbeat on China, India and Malaysia, we are more positive on Indonesia and the Philippines.

3 min video | December 2018

New directions: diversification of alternative risk premia strategies

Despite a difficult year, investors remain keen to use alternative risk premia strategies. However, current approaches may be less diversified than they appear, especially given cross-contamination in cash equity factors. A more diversified approach making use of fixed income has led to better returns and a more resilient portfolio

1 min read | December 2018

Volatility

New directions: diversification of alternative risk premia strategies

Despite a difficult year, investors remain keen to use alternative risk premia strategies. However, current approaches may be less diversified than they appear, especially given cross-contamination in cash equity factors. A more diversified approach making use of fixed income has led to better returns and a more resilient portfolio

1 min read | December 2018

Economics

Oil Price Slump: A Big EM Differentiator

Oil prices have fallen sharply. This drop, if sustained, will have a greater impact on emerging markets than developed markets.

3 min read | November 2018

Economics

US-Sino Trade Friction: Not All a Lose-Lose Outcome for Asia

Since the escalation of US trade protectionism this year, increasingly centered on China, a US-Sino trade friction is a lose-lose proposition for the world economy, especially for Asia, home to some of the most open economies in the world.

7 min video | November 2018

Central Banks

Getting to know the rule setters: gauging how Asia’s central banks set policy

Since the 2008 global financial crisis, major changes have taken place in Asia central banks’ reaction functions. Many have demonstrated a strong commitment to inflation targeting and domestic price stability, while some others are choosing between counter-cyclical and pro-cyclical policies.

5 min read | November 2018

Japan in focus

How X-Elio completed Japan’s largest solar sale

How X-Elio completed Japan’s largest solar sale – and what it says about the sector’s evolution

4 min read | November 2018

Emerging Markets

New Technology: Memory Hierarchy Emerge Through the Mix

Computing architecture is advancing owing to memory hierarchy innovation. While the performance of processors and storage continues to improve, the gap between their performances widens.

3 min read | November 2018

Central Banks

Surplus or deficit: what drives the current account matters

Current account deficits in Indonesia and the Philippines are not necessarily a bad sign; equally, current account surpluses in Northeast Asia are not necessarily a good sign. The key is what is driving them.

4 min read | October 2018

Economics

Euroyen market delivers swift results

Euroyen bonds offer size and speed for banks seeking regulatory capital. Are more deals on the way?

4 min read | October 2018

Economics

In the hunt for yield where are the new sources of volatility?

As mainstream markets evolve, structured products that focus on volatility are becoming more central to risk management and investment. Traditional products, such as long-only equities or bonds, are no longer a sufficient means for investors to achieve their goals.

1 min read | September 2018

Economics

Thailand: a fragile investment cycle

The ongoing investment recovery in Thailand is likely to be unsustainable with the election potentially resulting in another adverse political environment, particularly for private investment.

2 min read | September 2018

Central Banks

Damocles: our early warning indicator of exchange rate crises

Despite the lessons learned from past crises, currency crises still occur from time to time and spread contagiously when they happen. After receiving substantial capital inflows, some EM economies are under pressure this year.

3 min read | September 2018

Japan in focus

What can we learn from the history of trade wars?

From the 1950s to the 1990s Japan often found itself in disagreement with the US over trade. Although the trade war in automobiles in the 1980s was to do with the US’s current account deficit, there was significant trade friction from the 1950s to the 1970s related to textiles and steel, which took place before the US had a pronounced current account deficit.

2 min read | August 2018

Economics

Why global bonds are still attractive to Japanese issuers

Issuance hit a record high in 2017 and conditions remain supportive for new issues.

3 min read | August 2018

Volatility

East meets West: How China’s Geely connected with Volvo Trucks

Nomura’s structuring apportioned risk between the various counterparties while ensuring that there was a simple contract to present to the Chinese regulators.

3 min read | August 2018

About Us

Explore how our truly integrated, cross-asset platform and range of advisory, underwriting, risk solutions and capital-raising services to corporate, institutions, governments and public sector organizations delivers results in markets East and West.

| August 2018

Economics

Deciphering EM Rate Expectations

What are some of the patterns in Asia with regards to fixing and policy rates? We analyze 14 EM rates markets through the prism of our rates expectation framework.

2 min read | August 2018

Emerging Markets

China FinTech – 2018: survival of the fittest

Artificial Intelligence (particularly machine learning) and big data technology have been widely adopted in the bank and insurance sectors, owing to the need of processing and understanding the growing customer base and industry data. Over the next two years, we anticipate a “survival of the fittest” scenario.

3 min read | July 2018

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Economics

Asia Growth Slowdown: Six Reasons Why a Growth Slowdown Lies Ahead

After nearly two years of an upcycle, signs are building that growth in Asia ex-Japan (AEJ) may be starting to roll over. By how much will Asian growth slow down and why?

4 min video | July 2018

Economics

DEFCON 4: Financial Risks are Rising. Vigilance Should, Too

The movie WarGames helped introduce the DEFCON system to the public back in 1983 (including a 14-year-old future bank strategist who took his first date to the movie, perhaps explaining why it remains memorable). DEFCON—or defense readiness condition—reflects U.S. military preparedness for war on a rising scale of severity.

4 min read | July 2018

Technology

Asia Pacific technology: bigger wave of the 4th Industrial Revolution

While the first three industrial revolutions transformed our world, the fourth industrial revolution encompasses breakthroughs in robotics, AI, nanotechnology, quantum computing, biotechnology, the Internet of Things (IoT), 3D printing and autonomous vehicles.

2 min read | June 2018

Economics

No Anesthesia: Asia’s Giant Accepts Reform Pain in Exchange for Sustainability

After decades of double-digit growth, China’s macroeconomic slowdown to more sustainable levels continues to be a key feature of any serious analysis of the global economy. If there’s one immediate challenge in China this year, it's soaring property prices.

3 min read | June 2018

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Economics

Why market volatility is inevitable

Our research analysts, as well as representatives from our sales and trading desks from around the globe discuss the inevitability of volatility, and its true meaning. Volatility is often misunderstood and can mean different things to different people.

3 min video | June 2018

Economics

What are the five key drivers for Latin America FX in H2 2018?

Owing to the recent dollar move, we revisit the main drivers and forecasts for LatAm FX in H2 2018. We have identified the following five key drivers which are likely to continue to be important in terms of currency performance in the second-half of the year.

1 min read | June 2018

Emerging Markets

Digital Disinflation: a Powerful Force Taking Off in Emerging Markets

The first wave of global disinflation came from the globalization of trade. The world is now experiencing a second wave of global disinflation, driven by the digital technology revolution.

2 min read | June 2018

Economics

From the factory to the lab: Central and Eastern Europe’s innovation push

Central and Eastern Europe has been a manufacturing hub for the rest of the continent, but the model is creaking as labour costs rise; will innovation in software and digital write the next chapter in its growth story?

4 min read | June 2018

Economics

ASEAN: One body, many faces

As China’s labour-intensive manufacturing industries fan out across the wider region and local firms flex their muscles in capital-light industries such as ride-hailing and e-commerce, a significant number of blue-chip companies have moved into ASEAN.

6 min read | June 2018

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Central Banks

Highlights from Nomura Investment Forum Asia 2018

We held our 15th annual Nomura Investment Forum Asia (NIFA) from June 4 to 7, 2018 in Singapore. Hear from some of our key speakers with highlights from the conference.

3 min video | June 2018

Contributor results

| June 2018

Economics

Unintended Consequences: How Deregulation Could Lead to Credit Risk

As banks savor the possibility of deregulation, many are anticipating a ramp up in new lending. While this optimism may feel good in the moment, it’s important to keep in mind a lesson from history: when legislators make decisions in highly regulated areas, unintended consequences often result.

3 min read | May 2018

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Economics

Global Emerging Markets Podcast Series

Goldilocks economic conditions of strong growth and low inflation and the hunt for yield mean that most investors remain optimistic. But in our three podcasts below, Nomura economists point out that there are good reasons to be cautious.

8 min podcast | May 2018

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| May 2018

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| May 2018

Economics

Brazil: What is currently priced in? (Presidential election edition)

Upcoming presidential elections in Brazil will continue having a key role in local asset prices. Therefore, a clearer understanding of what the market is pricing in with regard to the presidential election outcome (and the implications for the approval of long-awaited pension reform) will be key for trading Brazil over the coming months.

2 min read | May 2018

Tag results

| May 2018

Emerging Markets

Higher Oil Prices Drive EM Divergence

A continued rise in oil prices would divide emerging markets by economic performance. The macroeconomic cost to large net oil importers with weak economic fundamentals can be disproportionately larger than the benefit to net oil exporters

1 min read | May 2018

About us

We’re always looking for opportunities born out of connected ideas. Whether they are found in emerging markets or empowered by new technologies, focused on Japan or dedicated to managing volatility.

| May 2018

Economics

The Belt and Road Initiative: Globalization, China Style

BRI should deliver an economic win-win for China and the countries it covers; China will also gain geopolitically. What are the benefits and risks for participating countries?

3 min read | April 2018

Search results

| April 2018

Emerging Markets

Where are the risks in an EM snapback?

Four potential events this year could lead to an emerging markets pricing snapback: a US bond market selloff, the global unwind of quantitative easing, a China growth slowdown and the risk of a trade war.

3 min read | April 2018

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Economics

What is fuelling trade in global emerging markets?

Trade has played a critical role in the development of emerging market (EM) countries. But as we discuss in our video, the increase in protectionist rhetoric in recent years threatens to stall or even reverse globalization. How will EM countries cope?

2 min read | April 2018

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Economics

How is technology transforming global emerging markets?

Technology has transformed the global economy in the last decade and made it easier to transfer knowledge. Now it’s giving emerging markets a competitive advantage, allowing them in some cases to be more agile and innovative than developed economies.

1 min video | April 2018

Who would bear the brunt of increased US protectionism?

In this study, our economists assess the impact of US trade protectionism, centering on China. The goal is to examine which countries and industries would ultimately bear the brunt should the US step up trade protectionism.

1 min read | March 2018

Economics

Deleveraging in a political milieu: Asia’s elephant faces a pivotal year

Despite a number of challenging setbacks this year, India looks like it is now positioned to realize its potential and rightfully retain its title as ‘the world’s fastest growing major economy’ for the next few years. Home to roughly one-fifth of humanity, India is trying to reform the informal segments of its economy and build solid governance frameworks that cut across its 29 states.

3 min read | March 2018

Economics

China: Beyond Falling M2 Growth

M2 growth has fallen sharply in China since mid-2016 and has recently recorded consecutive record lows. Although the validity of M2 growth as a liquidity measure has been undermined by thriving shadow banking financing in recent years, it is likely that M2 growth will remain a valid indicator of aggregate money supply.

2 min read | March 2018

Japan in focus

Japanese cross-border M&A takes off

In a time of global economic and political uncertainty, Japan’s relative stability stands out. After more than two decades of slow growth, the country continues to face many challenges.

6 min read | March 2018

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Economics

Global Emerging Markets Seminar 2018

In February, we hosted our third annual Global Emerging Markets Seminar in London, bringing together cross-asset clients, industry thought leaders and Nomura’s emerging markets (EM) expertise from Latin America, CEEMEA and Asia.

1 min video | February 2018

Economics

Time for the National Pension Service to escape “home bias”

The National Pension Service (NPS) is Korea’s social security reserve fund. It was created in 1988 to support the retirement benefits of its citizens. Asset allocation ultimately determines the long-term investment performance of any pension fund. We explore five reasons why the NPS will become more ambitious in accelerating its allocation shift to overseas assets, particularly equities.

2 min read | February 2018

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Economics

Outlook 2018: US

With a new Federal Reserve chairman set to take office early in 2018, a Republic Congress at the helm and the future of free trade agreements and healthcare up in the air, what can investors expect in 2018?

2 min video | December 2017

Economics

Asia Economic Outlook 2018

A forecast of Asia’s sweet spot of solid growth, strong capital inflows, tame inflation and low interest rates could stretch into 2018, underpinned by a durable global tech upcycle, continued quantitative easing by the European Central Bank and Bank of Japan and still-loose regional macro policies.

1 min read | December 2017

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Economics

Outlook 2018: Asia

What will China do to avoid following the Japanese bubble in the 80s and 90s? What level of US protectionism can we expect on Asian economies in 2018?

5 min video | December 2017

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Navigating US Tax Reform

US Congress and markets are once again focusing on tax policy in the US. What is the likelihood that the US Congress will pass a major tax reform package by the end of 2017?

7 min podcast | November 2017

Central Banks

The great decoupling: are Asian central banks breaking from the Fed?

Asian central banks are yet to follow the Fed’s rate hiking cycles even though many Asian policy rates are at historically low levels. But this could start to change.

2 min read | November 2017

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Economics

Oil price moves: A big EM differentiator

With oil prices on the rise this year, we discuss its impact on different emerging markets (EM). The rise in oil prices redistributes the global income from consumers to producers, which can lead to a varied macroeconomic effect on the EM universe.

4 min podcast | November 2017

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Eddie Jones: laser-sharp focus

At Nomura, we are proud to partner with Eddie who previously coached the Japan rugby team to the biggest international result in their history during the 2015 Rugby World Cup, when Japan’s national team beat one of the tournament favourites, South Africa.

1 min video | November 2017

Economics

Get ready for rising rates

Rising interest rates present challenges for both investors and corporates. However, there are a variety of cost-effective solutions available, according to Matthew Reader, Head of Fixed Income Structured Products and Jonathan Rogers, Head of Rates & Hybrid Structuring, EMEA.

6 min read | November 2017

Economics

Will UK housing continue to stand tall or fall?

Over the past 30 years real interest rates in the UK and other developed economies have been on a long-term downwards trend. This has supported the valuations of many assets, including house prices. With real interest rates predicted to rise gradually over the next decade or two, precisely the opposite (a ‘decapitalisation’, or a fall in real house prices) could happen and we believe real house prices could be 20% lower by 2030.

2 min read | September 2017

Economics

China: coming out of the shadows

The expansion of shadow banking in China was driven by banks' risk appetite to pursue high returns against a backdrop of slower economic growth, economic rebalancing and behind-the-curve regulation of the sector. As China’s capital market continues to mature, the key for regulators will be to minimize and control the risks that shadow banking poses.

3 min read | September 2017

Economics

China equity strategy: Add Japan and India to our comparative study

Using Confucius' theory of human life stages, we compare stages of economic development of India, China, the US and Japan.

3 min read | September 2017

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Economics

Highlights from Nomura Investment Forum Asia 2017

We held our 14th annual Nomura Investment Forum Asia (NIFA) from June 6 to 9, 2017 in Singapore. Hear from some of our key speakers in a highlight video from the conference.

6 min video | August 2017

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Economics

Is the US economy not as dynamic as it used to be?

Beneath the surface, the US economy has become far less dynamic and less responsive over the past several decades, placing downward pressure on productivity, wages, and rates. In this podcast, Mark Doms, Senior Economist at Nomura explains why.

11 min podcast | August 2017

Economics

The tranquil path of Asian inflation

In their recent ‘Asia Special Report’, our economists expect a decoupling from the Fed and no rate hikes until H2 2018. They explain this by using three proprietary tools to help improve ability to forecast headline and core inflation for 10 Asian countries.

3 min read | August 2017

Economics

Are striving tiger cubs the next phase of flying geese?

Our Asia economists present their scorecard of 23 Emerging Markets on foreign direct investment attractiveness and confirm India and ASEAN’s advantage over other Emerging Markets due to multiple push and pull factors.

11 min podcast | August 2017

Technology

China FinTech: from exuberance to execution

Since mid-2016, the FinTech industry in China has gone through its early stage hype to what is now a process of “survival of the fittest”. At the moment, we are again on the verge of a breakthrough in the FinTech field, with blockchain and AI taking the lead.

4 min read | May 2017

Volatility

Deal-contingent hedging: a flexible way to mitigate risk

Recent geopolitical volatility has had dramatic repercussions in the financial markets. The Brexit negotiations between the UK and EU have caused sterling to plummet to lows not seen in years, and protectionist rhetoric from the US has sent shockwaves through global FX markets and lifted interest rates to 5-year-highs.

3 min read | January 2017