Nomura Podcasts: Recent Episodes
Nomura
At Nomura, 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, sharpened by digitization or dedicated to managing volatility. Nomura connects these influences, in fresh and surprising ways, and combines them with the latest thinking to help our clients maintain their business advantage. Nomura's podcast series explores the latest trends in markets with weekly updated episodes where our key economists, researchers and investors discuss current events. (The information on the podcasts is subject to a disclaimer at the end of each podcast. Please ensure that you listen to the disclaimer, and go to https://www.nomuraholdings.com/policy/terms.html for further information about Nomura).
The uncertain oil outlook remains a key theme, while markets await the US CPI report for fresh Fed clues. In the US, we share our forecasts for the coming CPI and retail sales releases and our Fed outlook. In Europe, we preview the central bank meeting in Norway, August sentiment data and discuss the heatwave. In Japan, we examine the BOJ outlook, with fresh minutes to be released and following recent FX intervention to support the yen. Across Asia, we preview key data ahead and the RBA policy meeting in Australia. Chapters: US: 02:24, Europe: 07:23, Japan: 11:13, Rest of Asia: 16:31.
Markets start to question Fed credibility, fiscal issues stay in focus for the UK, while Japan's monetary and FX policy come into the spotlight. We discuss the Fed Chair's mixed messages and preview next week's labour market release. In our special UK segment, we reflect on the BoE's "dovish" hold and discuss fiscal plans under the new PM. In Asia, the BOJ and JPY intervention are in focus, and we also look ahead to the RBI and regional CPI data ahead. Chapters: US: 02:49 Europe: 13:00, Japan: 25:19, Rest of Asia: 30:08.
Preview of the Fed, BOE, BOJ and MAS and a segment discussing market risks with special guest Vijay Sundaram, Global Head of Front Office Risk & Control. We discuss the Fed and BOE remaining on-hold, US core PCE inflation easing, and the latest on UK fiscal plans. Central banks in Japan and Singapore are in focus; we think both are likely to pause, but it is a much closer call for MAS than BOJ. Special guest: Vijay Sundaram, our Global Head of Front Office Risk, speaks about market risks and how risk management is evolving. Chapters: US: 02:27, Europe: 09:21, Japan: 16:28, Rest of Asia: 20:40.
Europe comes back into focus ahead of the ECB and UK data, with a spotlight also on Korea and the "AI trade". For Europe, we look ahead to the ECB rate decision, preview UK inflation and labour market data, and discuss UK politics. In the US, we debate Fed Chair Warsh's recent comments and the latest soft inflation prints. In Asia, the focus is on Korea, the latest monetary policy decision and the impact of the AI/tech sector on the economy. Chapters: Europe: 01:51; US: 07:38; Korea: 14:00; Rest of Asia: 22:18.
Focus swings back to the Middle East, while we keep an eye out for 2 central bank meetings and key data ahead. In the US, we preview US CPI, retail sales and the Bank of Canada policy meeting. In Europe, we touch on UK GDP data, and discuss politics in the UK and France. In Asia, we share our forecasts for key monthly activity and Q2 GDP data in China, inflation in India, and GDP growth in Singapore. Chapters: US: 02:01, Europe: 11:13, China: 16:11, Asia: 22:01.
Following the Sintra Central Banking Forum, we discuss the ECB and Fed outlooks, and the impact of the latest labour market data on the latter. Fed Chair Warsh remains steadfast in avoiding forward guidance, but we see dovish hints in some of his comments. We look at the change in ECB rhetoric and softer inflation data which may signal only one more rate hike. In China, we focus on upcoming inflation data and how monetary and fiscal policy can respond. Chapters: US: 01:58, Europe: 09:24, China: 14:46, Asia: 22:37.
Tracking second-round inflation effects from oil, and a second round of USD strength. In the US, we examine the latest inflation clues, the Fed outlook and the coming payrolls report. In Europe, we preview the central bank gathering in Sintra, the ECB outlook and June inflation data. In Japan, we look at key activity data and policy developments, both monetary and fiscal. Across Asia, we preview PMI data in China and activity and inflation data in Korea. Chapters: US: 2:19, Europe: 08:44, Japan: 18:16, Asia: 17:27.
New Fed Chair Warsh moved markets meaningfully – we discuss how to think about US monetary policy from here. Kevin Warsh's first FOMC meeting as Chair caused a big reaction in markets; we outline what to expect from US monetary policy from here. In Europe, we look at the increasing divergence in our ECB and Bank of England rate calls. In Asia, we discuss Bank Indonesia's recent hikes and the upcoming Bank of Thailand decision. Chapters: Rates Special: 01:53, US: 08:18, EMEA: 20:29, Asia: 24:18.
Dr. Leslie Teo, one of our eminent speakers at the Nomura Investment Forum Asia (NIFA), discusses all things AI. Dr. Leslie Teo talks about his views on where economic value from AI is created over the long term and the monetization of large AI capex… as well as his thoughts on productivity gains to boost economic growth and where things stand on the 'job apocalypse" debate.
This week, we expect on-hold decisions by the Fed, BOE, SNB, Riksbank, Norges Bank, RBA and BI, but hikes by BOJ, BSP and CBC. We expect the Fed, BOE, SNB, Riksbank, Norges Bank, RBA and BI to all keep policy rates unchanged. By contrast, we see the BOJ, BSP, and CBC as likely to hike at a measured pace. Statements will be non-committal across the board, and all eyes on Fed Chair Warsh who will likely try to be balanced. Chapters: US:1:53, UK:9:05, Japan:14:54, Asia:14:59.
Eminent speakers at the Nomura Investment Forum Asia – Dr. Ng Eng Hen and Sir Richard Moore – discuss geopolitics, US-China relations, and the Middle East conflict. Dr Ng Eng Hen, formerly Singapore's Defence Minister, shares his thoughts on shifts in US policies and the implications for Asia. Sir Richard Moore, senior strategist at Sixth Street and former MI6 chief, weighs in on prospects of a long drawn-out war in Iran.
Uncertainty in the Middle East continues, as key central bank meetings approach.
- In the US, we examine the resilience of the economy and preview the upcoming CPI report.
- In Europe, we review recent inflation data and explain why we expect an ECB rate hike next week.
- In Japan, we preview the Q1 GDP report and take a close look at the BOJ.
- Across Asia, we share our take on key data coming out in Japan and China, touch on the Trump/Xi meeting and preview the central bank meeting in Indonesia next week.
Chapters: US: 01:57, Japan: 11:56, Asia:15:50, Europe: 16:47.
We discuss the economic impact and investment opportunities of geopolitical transitions, China shock, and the AI revolution reshaping Asia.
At the sidelines of Nomura's Investment Forum Asia (NIFA) in Singapore, we highlight key takeaways from our new anchor report "Asia Rewired." Shifts like the AI revolution and trade realignment are rewiring Asia, creating winners and losers as well as investment opportunities. China, Malaysia, South Korea, Australia, and Singapore stand to benefit the most, while lower-income economies face some challenges.
This week, geopolitical tensions may be cooling but the fallout is rising with growth, inflation and central bank reactions evolving rapidly.
We look ahead to the US labour market data and the ongoing hawkish shift in Fed communications. In Asia, we preview the RBI's next meeting and look ahead at inflation data around the region. In Europe, we discuss what factors – such as inflation expectations – could shift our views on the ECB and BoE. Chapters: US: 2:27; Asia: 11:01; Europe: 17:09;
This week, after a sharp rise in global bond yields, we await key inflation data in the US and Euro area, and discuss the fallout in Asia. We preview US core PCE and Euro area inflation, discuss a change in our Fed forecasts, and update on UK politics. In Asia, we preview decisions by the BOK and RBNZ, as well as core inflation in Singapore. And, in a special segment, Albert Leung, our Head of Asia rates strategy, discusses rising global bond yields and opportunities in Asia. Chapters: US: 2:10; London: 11:02, Asia: 16:50; Special Market Segment: 23:51
This week, in the US, we examine the health of the consumer and the challenges facing incoming Fed Chair Kevin Warsh. In Europe and the UK, we examine UK politics, key incoming data and ECB communication. In Japan, we discuss economics and geopolitics, with the visit from US Treasury Secretary Scott Bessent this week. Across Asia, we share our take on key data coming out in Japan and China, touch on the Trump/Xi meeting and preview the central bank meeting in Indonesia next week. Chapters: US: 2:08; Europe: 7:34; China: 13:07; Japan: 17:41; Asia: 22:04; Australia: 26:14
This week, in the US, we assess the latest strong/weak labour market data and look ahead to next week's inflation print. Politics is in focus in Asia, ahead of the Trump-Xi meeting and following India's state elections, with inflation data also due in both China and India. In Europe, we also discuss local politics in the UK and the recent changes to our ECB and BoE rate calls. Chapters: US: 2:00; China: 8:35; India: 18:35; Europe: 26:00
This week, in the US, we recap the FOMC meeting and key data and look ahead to the coming Payrolls report. In Europe, we review the ECB and BOE policy announcements and outlook, and preview central bank meetings in Sweden and Norway. Across Asia, we preview earnings data in Japan and the upcoming central bank meetings in Malaysia and Australia. And in a bonus special interview, Jon Cohn discusses the market backdrop. Chapters: US: 2:26; Market Special Segment: 10:19, Europe: 17:04; Japan: 22:25; Asia: 25:20; Australia: 29:13
This week, we preview decisions from the Fed, ECB, and BOE, but expect no fireworks. In Asia, the BOJ may sound hawkish but BOT is likely dovish. In a special segment, our head of Global Macro Research, Rob Subbaraman, argues that the bark of central banks will be bigger than their bite. Chapters: US: 2:10; Europe: 8:37; Japan: 15:48; Asia: 20:28; Central Banks Special Segment: 22:48
This week, we discuss our views on the ceasefire from a US perspective, the latest from the Fed, and fiscal policy in Europe. Rate decisions in Indonesia and Philippines are the focus in Asia, with a hike seen from the latter. We preview key UK labour market and inflation data, and European surveys, ahead of the BoE's April meeting. Chapters: US: 1:43; Asia: 10:20; Europe: 17:03
This week, we discuss our views on the ceasefire from a US perspective, the latest from the Fed, and fiscal policy in Europe. We preview key data such as China's Q1 GDP and India's March CPI, as well as the MAS decision. We feature our latest special reports on why China is looking resilient and whether Asian central banks will hike rates or not. Chapters: US: 1:51; Europe: 9:37; China: 15:41; Asia: 22:09
This week, we look back at the effects already being felt across the global economy. In the US, we preview employment and inflation releases, and outline why we pushed back the timing of our Fed cut expectations. In Europe, we discuss the latest inflation data, how this shock differs from 2022, and the political response to recent developments. In Asia, we note that the shock is evolving into broader supply shortages, preview March CPI prints, and discuss rate decisions by RBI, BoK, and RBNZ. Chapters: US: 2:25; Europe: 8:44; Asia: 14:56
With geopolitics and the US economy in focus at our Central Bankers' Seminar, we are delighted to bring two expert speakers to the podcast. Former Fed Governor and NEC Chair Lael Brainard discusses the outlook for the US economy and the path for the Federal reserve. Economic historian and geopolitical expert Niall Ferguson gives his views on the Iran war and how it will impact the geopolitical landscape in the short and long term.
This week, The Middle East conflict remains front and centre. In the US, we discuss the conflict and the health of the consumer and preview the March Payrolls report. In Europe, we compare the spike in oil and gas prices with the 2022 experience and examine recent survey and coming inflation data. Across Asia, we examine how the Middle East crisis is impacting China and Japan, and preview key data releases over the week ahead. Chapters: US: 2:15; Europe: 9:32; China: 14:54; Japan: 21:11; Asia: 26:16
This week, we discuss our views on the policy signals from recent decisions by the Fed, ECB and BOE. In the Middle East, we continue to monitor the impact of the Iran conflict on their respective economies, and any signs of possible de-escalatio, or not. We also have a special segment with Craig Chan, our global head of FX strategy, discusses which currencies could be vulnerable versus those that are more resilient. Chapters: US: 1:45; Europe: 11:15; Special Segment - FX: 18:30
This week, we preview central bank policy responses amid the elevated uncertainity in the Middle East. In the US, we see the economy as relatively insulated from Middle East turmoil and discuss likely FOMC communication next week. In Europe, we discuss the risk of earlier ECB rate hikes and delayed Bank of England rate cuts Across Asia, we expect a less dovish tone from Bank Indonesia, more hawkish projections from the CBC in Taiwan, and discuss the risk of a rate hike in Australia. Chapters: US: 1:45; Europe: 8:20; Japan: 14:35; Asia: 18:45
The markets are fixated on the Middle East, especially on how rising energy prices will impact inflation. We see challenges for the larger energy importers in Asia and Europe, and now expect the Bank of England to leave rates unchanged in March. In the US, we also discuss the downside miss to February's labour market data and preview next week's inflation print. Chapters: Middle East: 1:53; US: 11:44; Asia: 19:34; Europe: 24:14
This week, we discuss US tariff policy and geopolitical risks in Iran while the US jobs report is on tap. We also preview the UK Spring Statement, the NPC meeting in China, and inflation data in Asia. Finally, we have a special segment with Tomochika Kitaoka, Chief Equity Strategist, on why he remains positive on the Japanese stock market. Chapters: US: 2:25; UK: 9:20; Asia: 13:45; Japan Special Segment: 21:40
This week, we examine coming US inflation and labour market data, and the Fed outlook following a hawkish set of minutes this week. In Europe, we discuss reports that President Lagarde could be leaving the ECB early and consider the growth and inflation outlook for the region. Across Asia, we preview the Bank of Korea and Bank of Thailand policy meetings, and examine key coming data in India, Japan and Australia. Chapters: US: 2:00; Europe: 8:15; Asia: 14:00
This week, we discuss US labor markets and preview US core PCE, UK CPI and other key data in Europe. In Japan Post-election policies are in focus while RBNZ, BI and BSP decisions are on tap. In a special segment, we feature two anchor reports by our APAC rates strategists and their views on the outlook. Chapters: US: 2:36; Europe: 10:17; Japan: 15:38; Asia Rates Special: 20:40
This week, we discuss our new Bank of England view and the risks to euro area interest rates. In the US, the prospective Fed chair, labour market data and inflation are all in focus. In Asia, we preview elections in Japan and Thailand and how they may impact local economies and financial markets.
This week, we discuss the weaker US dollar, as well as the FOMC meeting and payrolls data ahead. Also in focus is the announcement of an historic India-EU trade deal following an incredible 20 years of negotiation. We also look at monetary and fiscal matters in India, with the upcoming budget and central bank policy meeting. In Europe, we look out for the Bank of England and European Central Bank meetings, with a stronger EUR making things a little more interesting. And finally, we preview the Reserve Bank of Australia meeting, following stronger than forecast core inflation data this week.
In the aftermath of President Trump's Davos speech, we discuss his aims, the response from others and potential constraints. We also welcome guest speaker, Samira Fazili, Managing Director, US Public Policy and Government Affairs, to share her views on the latest geopolitical developments. In addition, we preview the FOMC decision where we see rates remaining unchanged albeit with some voting dissents. In Australia, we look to crucial CPI data ahead of the RBA decision in February.
We preview US core PCE, UK CPI, and China GDP, and discuss the latest on geopolitics and the Fed. In Japan, the BOJ is on the spotlight amid JPY weakness and prospects of snap elections. Norges Bank, CBRT, BI and BNM are also on tap with likely divergent forward guidance. Chapters: US: 01:55, Japan: 09:20, China & Asia: 15:40, Turkey, Europe & UK: 22:05.
We discuss US geopolitical developments and their potential economic impact, as well as the latest employment and inflation data. The Bank of Korea is likely to leave rates unchanged in January, but we also outline our more hawkish view for the 2026. In Europe, we preview the UK data releases, review euro area inflation and discuss prospects for closer UK-EU relations. Chapters: US: 02:10, Korea and Asia: 09:45, Europe: 15:55.
In the final instalment of our 2026 Outlook episodes, our Economists discuss the outlook and key risks for the US and Canada for the year ahead. We discuss the key drivers of our above consensus view on US growth, including fiscal support, diminishing trade risks, a rebounding labour market and strong consumer. We expect inflation to remain above target but think the Fed will cut twice in H2 under a new FOMC Chair.
In the third of our 2026 Outlook episodes, we discuss the focus on fiscal policy, disinflation pressures and the major risks to the region in the year ahead. In the Euro Area, we see growth accelerating with supportive fiscal policy, but limited inflation pressure and no ECB rate changes. In the UK, we still expect another rate cut and see significant disinflation in the months ahead, with political risks building later in 2026. We expect 1000bp of rate cuts in Türkiye as inflation falls from over 30% towards 20% and the real exchange rate appreciates.
In the second of our 2026 Outlook episodes, we focus on the year ahead outlook for Japan, which we expect to remain on a recovery path in 2026. Joined by guest speakers Yujiro Goto, Head of FX Strategy, Tomohaki Shishido, Senior Rate Strategist, and Tomochika Kitaoka, Chief Equity Strategist, our Economists share their top views on the economy, the risks to watch out for, and the implications on FX rates and equity markets.
In the first of our 2026 Outlook episodes, our Economists in Asia discuss Nomura's key macro and market views for the region in the year ahead. In China, we discuss the "great divide" and the challenging backdrop for policy makers. For India, we expect another Goldilocks year, with strong cyclical growth, low inflation and another RBI rate cut. Across the broad region, we forecast a year of divergence, with technology and domestic demand divergences, creating leaders and laggards. We also welcome Craig Chan, our Global Head of FX Strategy, who outlines some thoughts on the US dollar, where we see some downside medium term risk, and a couple of potential medium-term winners.
December seems to have been marked by dissents and divisions within and among central banks across the globe. We discuss the impact of the Fed's cut on the US Dollar, as well as preview the upcoming jobs report and CPI data in the US after the government shutdown. We also preview our expectations of contrasting European Central Bank and Bank of England decisions, as well as Bank of Japan, Bank of Thailand, and Bank Indonesia meetings which are also set to deliver likely diverging decisions. Chapters: US: 02:13, Europe: 09:06, Japan: 14:15, Asia: 19:18.
The Fed is firmly priced for a cut on 10 December. We preview the upcoming Fed meeting, risks, and discuss the board's potential composition in 2026. We speak with Yujiro Goto, Head of Japan FX Strategy, on how the Bank of Japan's rate pricing is evolving, and more broadly in Asia, we then discuss our 2026 outlook for the region. In Europe, the SNB is in focus alongside UK data and Scandinavian inflation.
Equity markets and risk assets have had a couple of positive days this week, underwritten by the technology sector and by growing market expectations that the Fed will deliver a rate cut on 10th December. With this in mind, we discuss the Fed outlook and the latest US data, with US data taps turning back on post the government shutdown. In Europe, our focus is on inflation data and the UK budget. In Asia, we focus on the Reserve Bank of India policy meeting next week, India's macro outlook, and key data coming out across the region. Chapters: 01:52, Europe: 09:16, Asia: 14:44.
It's been a roller coaster ride in equity markets this week, coinciding with the release of the long-awaited US jobs report. We discuss why we see the US jobs report as mixed, but supportive of our forecast that the Fed will pause in December. All eyes will be on the UK budget and why the fiscal tightening will be modestly backloaded. In Asia, the focus is on Q3 GDP growth in India, and we deep-dive on South Korea to discuss the hawkish hold we expect from the Bank of Korea next week, as well as Korea's two supercycles.
The news of the week is confirmation of the end of the US government shutdown. In the US, we examine the coming dataflow as the government reopens and the outlook for Fed funds. Across Europe and Japan, there will be no shortage of data to look at next week. We discuss the inflation report in the UK, growth and inflation in Japan, and the Bank Indonesia policy meeting. Chapters: 01:27, Europe: 07:22, Japan: 12:45, Asia: 17:12.
With equity markets and tech stocks wobbling, we welcome guest speaker, Charlie McElligott, Cross-Asset Macro Strategist at Nomura, to discuss what is driving equity markets and what to watch in terms of "bubble risk". In the week ahead, politics is still front and center in the US. We discuss the impact of the ongoing shutdown and tariffs. In Europe, we explain how we are viewing the next steps in the UK following the Bank of England's decision, and look briefly at Scandinavian divergence. In Asia, we explore how the region's trade deals with the US are evolving. Chapters: Markets Special: 01:56, US: 17:06, Europe: 23:36, Asia: 29:51.
On the one hand, President Trump's trip to Asia resulted in some trade deals including with China, broadly in line with expectations but nonetheless were welcome news for markets. On the other hand, the hawkish twist by the Fed was a surprise, which led to a strengthening of the US dollar and a rise in Treasury yields. We explain why we no longer expect a cut by the Fed in December but still see three rate cuts next year. We also discuss the US-China trade truce and the impact on China's growth outlook, and why we forecast a non-consensus Bank of England cut. Chapters: 02:23, China: 09:18, Asia: 14:01, Europe: 21:02.
With the US government shutdown continuing, we've had only limited US data to look at over recent weeks, but that has only increased the focus on geopolitics. This week our focus will be very much on central banks, as we track four of the major central banks which are set to announce rate decisions next week. In the US, a 25bp rate cut from the Fed seems locked and loaded. We also discuss the Bank of Japan, Bank of Canada and the European Central Bank policy meetings. Chapters: US: 02:16, Europe: 09:05, Japan: 14:14, Asia: 19:05.
US-China trade tensions have returned to the spotlight, and we discuss the economic impact from both perspectives as markets await the news on whether we will see further escalation or a softening in tone. In Europe, the UK remains in focus ahead of two significant event risks coming into view, with the Bank of England meeting on 6 November and the budget on 30 November. Yujiro Goto, Head of Japan FX Strategy, outlines the latest political developments in Japan, the market impact and the paths ahead. Chapters: Japan: 02:34, China: 08:58, Europe: 15:30, US: 21:50.
Politics continue to take centre stage, with the shocking LDP election result in Japan and the resignation of the French Prime Minister after less than 4 weeks in office. The EUR has weakened as a result, while USD/JPY has surged. We discuss the main policy features of ‘Sanaenomics’, the implications for the BOJ, and what to expect from the political developments in France. Our guest speaker, Samira Fazili, Managing Director, US Public Policy & Government Affairs, shares her take on how and when the US government shutdown could end. Chapters: US: 02:12, Japan 13:57, Asia: 20:06, Europe: 21:43.
For financial markets and economists, the main near-term challenge of the US government shutdown is a lack of data. The longer the shutdown rumbles on, the larger the potential negative economic consequences. In Europe, we are moving firmly into budget season, putting fiscal policies at the top of the agenda. In Asia, it is all about central bank meetings, with the Philippines, Thailand and New Zealand all set for rate cuts in the week ahead. Chapters: US: 02:13, Europe: 08:06, Asia: 13:34.
In previous weeks, the Fed’s easing expectations appear to have been driving all markets, sending equities higher, credit spreads tighter, and the USD and US yields lower. However, better US data this week have resulted in some rate cut expectations to unwind. Markets will be in for another big test next week, with the US Payrolls report and the significant risk of a US government shutdown. We preview China’s PMI data, the Reserve Bank of India and the Reserve Bank of Australia’s policy meetings, and activity data in Japan. Chapters: US: 01:49, China: 06:50, India: 10:39, Japan: 13:58, Australia: 15:35.
Following the Fed’s decision to cut by 25bp, we discuss why we now expect substantially more rate cuts in 2025-26, and the impact of the appointment of a new Fed chair in coming months. In Europe, we preview the on-hold decisions we expect from both Swiss National Bank and Riksbank next week. In Asia, we put a spotlight on Indonesia. In this episode, we also speak with Yusuke Miyairi, our G10 FX strategist, who explains why he sees USD/JPY lower in the near-term, amid the latest political developments in Japan. Chapters: US: 01:59, Europe: 10:23, Asia: 15:51, Japan: 17:24.
We are tracking seven central bank meetings next week, and expect rate cuts from three. The Fed policy meeting next week is in full focus, against a highly unusual backdrop. This week we discuss an expected rate cut in the US and Canada. Across Europe, we forecast a rate cut in Norway, but not in the UK. Meanwhile in in Asia, we examine China activity data, the Bank of Japan and the latest political developments, and preview central bank meetings in Indonesia and Taiwan next week. Darren Shames, Head of Global Rates Sales, joins us as a guest speaker to give an update on the latest trends driving Global Markets. Chapters: US: 01:42, Markets Special: 07:14, Europe: 13:13, Japan: 17:23, Asia: 21:32.
With the August labour market having been released in the US, we provide a reaction on the data, alongside next week’s CPI and potential political pressures which could influence the Fed. In Europe, we focus on the French confidence vote and the ECB meeting on Thursday. In Asia, we talk politics in Japan and ASEAN, and how this may impact central bank policy in the months ahead. Chapters: US: 01:56, Europe: 08:45, ASEAN: 14:54, Japan: 22:29.
It’s another big week ahead with all eyes on the US jobs report and on-going headlines regarding the firing of Fed Governor Cook. In Europe, we discuss upcoming inflation data, some central bank divergence, and the potential fallout from the vote of confidence in France. In Asia, the focus is on China’s growth outlook and Beijing’s likely policy strategy amid a strong rally in equity markets. Finally, in a special segment in this episode, we focus on the next leg of easing by Asian central banks and market implications, with Sonal Varma, Chief Economist for India & Asia ex Japan, and Albert Leung, Asia Rates Strategist. Chapters: (US: 01:53, EMEA: 08:08, China: 12:19, Asia Central Banks Special: 17:25).
We discuss Fed Chair Powell’s long-awaited speech at the annual central bank gathering in Jackson Hole. In Europe, our focus is on the ECB and European inflation trends, and we touch on the Russia-Ukraine war and economic implications. Then across Asia, we examine key coming data in China and Japan, and central bank meetings in Korea and the Philippines. Featuring a special segment, we welcome Jonathan Cohn, Head of US Rates Desk Strategy, to discuss key trends in Global Markets. Chapters: (US: 01:46, Global Markets Special: 08:10, EMEA: 15:30, Asia: 18:46).
This week, we explain the change in our Fed call following the latest inflation data, as well as the latest views on China, and the UK. We have brought forward our call for the next Fed cut to September, following slightly dovish inflation details for July. China remains mired in low inflation and soft growth; we discuss what the rest of H2 has in store. In Europe, we look at the latest and upcoming UK data following a hawkish BoE decision, and preview the Riksbank meeting. Chapters: (US: 01:55, China: 08:20, Europe: 16:20).
In the week ahead, all eyes will be on US CPI data which is likely to tick up. We preview the key data releases from the UK and Europe, as well as the Norges Bank decision coming up. We discuss the contrasting outcomes that we expect from the Reserve Bank of Australia and the Bank of Thailand. Finally, in a special segment in this episode, we focus on the US Dollar and why keeping a soft medium-term dollar view makes sense. Chapters: (US: 01:36, EMEA: 08:18, Asia: 14:57, FX Special Segment: 21:18).
Following the 15% tariff announced for Europe, further tariff rate announcements for India and South Korea have followed. For global markets, our focus remains on tariff announcements, key macro data and central banks. In this episode, we discuss these developments, as well as the Bank of England policy meeting, where a rate cut is widely expected. In Asia, the focus is on a policy meeting in India, inflation and key earnings data in Japan. Chapters: (US: 01:41, EMEA: 07:34, Asia: 12:49).
Following a number of trade deals announced in the last week, financial markets seem to be taking the news in a positive manner with equity markets continuing to edge higher and bond yields remaining in fairly narrow ranges. However, one bond market that has stood out is Germany where yields have jumped following hawkish ECB commentary after their July rate meeting, which we discuss in this episode alongside the potential EU-US trade deal. We also discuss the US implications of trade deals, preview the FOMC decision and US labour market data, both of which are due next week. In Asia, we focus on trade developments in India and ASEAN, the Japan upper house election, and the US-Japan trade deal. Chapters: US: 01:54, EMEA: 10:29, Asia: 15:05, Japan: 22:13.
This week's key themes include US inflation and the Fed, the ECB decision and EU tariffs, and China's growth outlook. We discuss how tariffs are starting to impact US inflation data, preview the ECB decision and how the 30% tariff threats on the EU could affect that outcome, as well as share views on Japan's upper house election and whether a weak growth outlook China could prompt policy response. Chapters: (US: 01:50, Europe: 11:05, China: 15:40, Japan: 22:10)
Key global market themes remain centred around US tariff announcements, possible trade deals, and the Fed. This week we saw President Trump announce higher tariff rates on a number of countries. We discuss these developments, what comes next, and key data and events to look out for over the coming week, as well as UK debt metrics and the outlook for China and Indonesia. Chapters: (US: 01:40, Europe: 07:40, Asia: 12:05).
The UK saw another round of combined sterling and gilt weakness, a pattern which is becoming worryingly familiar. Politics elsewhere seemed to have run a bit more smoothly with the US budget bill passing through the Senate and House, teeing up some degree of fiscal expansion for the year ahead. Tariffs remain on the agenda for the week ahead, as we approach the 9 July deadline. In Asia, we focus on the Bank of Korea’s likely hawkishness relative to potential rate cuts by the Reserve Bank of Australia and the Reserve Bank of New Zealand. Chapters: (US: 02:14, Asia: 08:53, Australia & New Zealand: 13:53, EMEA: 16:33).
Tensions in the Middle East have eased but we enter the month of July with other flashpoints to watch. In the US, all eyes on labor market data, the Fed, and prospects of passing the One Big Beautiful bill. CPI data across Europe and the ECB forum in Sintra are on tap, while Germany approved a big budget. In Asia, we expect still-benign inflation and discuss trade deal prospects and our change in RBA forecast. Chapters: US (02:00), Europe (08:58), Asia (14:35).
Market dynamics in the last week have been dominated by developments in the Middle East, where the ongoing military action between Israel and Iran continues to have a notable impact on investor risk sentiment and oil prices. In the US and Europe, we dissect a week of central bank decisions, including the Fed and the Bank of England. In Asia we look at how trade is evolving and discuss local political developments in Thailand. Chapters: US (01:42), Europe (10:59), Asia (16:01).
Ongoing trade deal developments remain the largest driver of global markets right now. Our focus next week will be on the G7 Summit in Canada, to see if there are any further trade developments. We look ahead to central bank meetings in Indonesia, the Philippines, Taiwan and Japan, as well as fresh ECB communication and policy meetings across the UK, Switzerland, Sweden and Norway. Chapters: US (01:48), China (07:39), Europe (11:31), Japan (14:31), Rest of Asia (18:22), Australia & New Zealand (21:37).
In this episode, we discuss our high conviction views and the second half outlook presented at our flagship Nomura Investment Forum Asia (NIFA) which recently took place in Singapore. Key themes at the conference were centered around US trade and fiscal policy, tensions with China, geopolitical risks, and de-dollarization. We also discuss how the rest of the world, as well as market participants, are navigating this highly uncertain global environment.
There has been a few surprises this week highlighting the unpredictable and unconventional nature of US policy making. For the week ahead, our focus will be on the May Payrolls report in the US and the Bank of Canada policy decision. In Europe, we take a look at the impact of tariffs and geopolitics from a European perspective, and also discuss the policy meeting in India, earnings data in Japan and broad inflation trends across Asia. Chapters: Europe (01:55), US (06:05), Asia (11:05).
It has been another big week in markets. We discuss US fiscal developments and how the Fed might respond as well as preview US inflation data. In focus for the week ahead is also central bank decisions in Australia, New Zealand and South Korea, alongside India’s growth outlook. In Europe, we discuss recent signs of softening of inflation and why the ECB still has room to cut rates.
Chapters: US (01:50), Australia & New Zealand (07:31), India (10:33), Asia (17:19), Europe (18:03).
This week started with a bang after the sharp de-escalation of US and China tensions, with both sides agreeing to reduce tariffs in the next 90 days. We discuss the near-term economic implications, as well as the prospects of reaching a more lasting trade deal. We also preview upcoming UK CPI and European survey data and whether trade talks with Europe can also make progress. We end with a special segment on FX markets to discuss why sticking to a medium-term soft USD view makes sense and which currencies could outperform in this environment. Chapters: US (02:06), China (07:35), Asia (12:31), Europe (13:46), FX Special Segment (18:14).
In the week to date, the major themes remain around tariffs, policy and uncertainty, and what central banks will make of it all. Weaker growth but higher inflation could leave central banks in a tricky spot. In the week ahead, our focus in the US will be on April retail sales and CPI, and the latest tariff developments. In Europe, we recap the central bank meetings over the past week and look ahead to UK labour market and GDP data. Then we turn to Japan to consider Q1 growth, as well as tariff and trade negotiations. Chapters: US (01:47), Europe (09:54), Japan (13:19), Asia (16:12).
The focus this week turns to central banks. We discuss the Fed staying on-hold amid likely more pressures from Trump, and the uncertain outlook for US tax policy which is becoming a top legislative priority. We also discuss our expectations for the Bank of England, Norges Bank and Riksbank which could have diverging decisions but some risk of a dovish tone, as well as Beijing’s latest stance on de-escalation and stimulus prospects. All eyes will be on the data to gauge how much of the tariffs are already starting to have an impact, on how these central banks factor in the uncertainty, and on any progress on the trade talks where things also remain influx. Chapters: US (01:56), Europe (10:58), China (14:42), Asia (20:00).
As trade tensions show signs of softening and financial markets stabilise, we discuss the recent changes to our central bank views for both the European Central Bank and Bank of Japan, and outline our thinking on recent US-Japan trade negotiations. In this episode, we also preview the upcoming US labour market data and discuss what the election in Canada may mean for the economy and markets. Chapters: Europe (02:19), Japan (05:53), Asia (11:02), US (12:23).
We have seen some calm return this week, which has coincided with President Trump making some tariff concessions for tech companies and for auto parts, suggesting that a 'Trump put' is in play, and with the President also signalling “big progress” in talks with Japanese officials. However, we have to say this is an uneasy calm; new sectoral tariffs are still likely coming and tensions with China remain elevated. We discuss the latest tariff twists and turns, fresh communication from Fed Chair Powell and upcoming US data, as well as the ECB’s recent 25bp rate cut. Across Asia, we will look out for Bank Indonesia’s policy meeting, Korea export data and Tokyo CPI. Chapters: US (02:16), Europe (08:47), Asia (13:13).
Global financial markets remain on edge after a rebound from the 90-day pause on US reciprocal tariffs for most countries except China. In this episode, we discuss the path forward for negotiations with US trade partners. We also discuss Europe’s changing stance to negotiate rather than retaliate, and the ECB looking set to cut again next week. In Asia, we outline the posture from Beijing, with the Q1 GDP data also on tap.
We end with a special segment with Rob Subbaraman, Head of Global Macro Research, who offers his perspectives on major global questions, including how damaging the ‘tariff shock’ could be on global growth, and possible reasons behind the on-going decline in US asset prices. Chapters: US (02:08), Europe (07:30), China (12:25), Rest of Asia (17:48), Tariffs (19:16).
It’s been another tumultuous week in financial markets following President Trump’s tariff announcements on 2nd April. Tariffs were broad and generally larger than expected and financial markets did not digest them all that well, although some resilience in US labour market data appears to be curbing some of the downside for now. In this episode, we will go into the detail of what trade policy is being implemented and what it means for various economies. Chapters: US (01:27), Europe (09:00), Asia (14:01), Australia and New Zealand (20:15).
In the week to date, US bond yields are a little higher across the curve, and the USD has been a little stronger too, while equities really have had a couple of up and down days. Another big theme for global markets has been around the idea of US exceptionalism, that took a dent as some US data printed weaker, Europe data looked better, and as China and Europe announced some stimulus plans over prior weeks. For the week ahead, it really is crunch time with April 2 tariff announcements just around the corner. Chapters: US (01:56), Europe (10:47), Asia (13:59).
Financial markets have been difficult to navigate, with equity markets bouncing from their recent lows but still seeing sizable intraday swings. Interest rates seem to be similarly caught between potential upside inflation risks from some sources, and challenging growth dynamics on the other. And all of this comes ahead of the April 2nd tariff announcements from the US which also have the potential to jolt markets further. In Europe, we look for further signs that German’s fiscal reform is feeding into stronger growth expectations, while the UK’s fiscal room looks more constrained. In Asia, we discuss likely policy responses in Indonesia, Thailand and Singapore. Chapters: US (02:08), Europe (11:05), Asia (15:31).
Market participants continue to grapple with a very high degree of uncertainty which is starting to have real economic consequences. The week ahead should be very interesting with key central bank decisions, and we could get some guidance on how policymakers think about and deal with the uncertainty, particularly from rising global trade tensions. We share our expectations for an on-hold decision at the upcoming FOMC meeting, and for the Fed’s tone to continue to emphasize patience. We also expect a pause from the BOE’s cutting cycle. Lastly, we discuss why communication is a bigger focus this time from the BOJ’s meeting where a skip in the hiking cycle is widely expected. Chapters: US (01:53), Europe (10:39), Japan (16:43), Asia (21:22).
Markets have seen sizable moves as the US administration ramped up tariffs and Germany announced a huge fiscal package. (02:30) With US tariffs hitting last week, we discuss what is actually in place, what is likely to come and the impact on the US, China and Europe. (15:15) Germany’s fiscal stimulus is having a major market impact and should meaningfully raise growth, inflation and ECB expectations. (20:15) We also preview next week’s inflation data out of the US and China.
It’s a big week for China with all eyes on the National People’s Congress (NPC), where fiscal measures could be announced. We outline our expectations and whether the NPC could potentially provide a lift in market sentiment. In the US, we preview the February employment report and its impact on Fed policy, and digest the latest announcements on tariffs. In Europe, we discuss our expectations of the ECB, where we go from here after the German elections and what is Europe’s next move around the peace deal. Chapters: US (02:10), Europe (07:40), Asia (15:45).
Market sentiment seems to be holding in pretty well as this week comes to a close. Equity markets are generally holding up at healthy levels, credit spreads remain pretty tight, and commodity currencies, which are often seen as global growth sensitive and risk barometers, are holding up at higher levels. This week in the US, our focus will be on core PCE inflation and any new Trump or tariff developments. In Europe, we’ll be watching the German election fallout, along with the latest inflation readings. Then it’s the latest from Asia, with central bank meetings in Korea and Thailand, and China PMI data ahead. Chapters: US (02:16), Europe (06:46), Asia (11:31).
Early signs of a potential Russia-Ukraine peace deal are boosting market optimism, with EUR/USD trading up towards its highest level since late-January and European equities continuing to surge. We discuss what this might mean for the euro area outlook. This positivity is, however, still being partially offset by the ongoing threat of US tariffs and by sticky inflation data in the US. We also preview next week’s central bank decisions in Australia, New Zealand and Indonesia. Chapters: Europe (02:02), Asia (07:32), US (11:38).
This past week began with the news that Mexico and Canada had secured a temporary reprieve from US tariffs. However, we see higher tariffs as highly likely. This week also brought us stronger-than-expected earnings data in Japan. Looking ahead, in the US our focus will be on any further tariff news, the January CPI and Fed-speak. In Europe, we’ll be watching out for the latest activity readings, and ECB and BOE speakers, as well as a central bank meeting in the Philippines. Chapters: US (01:49), Europe (06:22), Asia (10:31).
It’s been another big week, with the news on DeepSeek rattling global equity markets, led by the tech sector. The Fed’s on-hold decision came and went as expected, however we have made an important change to our Fed forecasts. Coming up, the US employment report will be key to watch, alongside hints on whether tariffs will soon be implemented. Elsewhere, we have the BOE decision where a cut is widely expected, while activity data in Europe could again remain weak. In Asia, the spotlight is on India with a likely pivotal central bank decision on tap, just a few days after the government’s FY26 budget was unveiled. Chapters: US (02:12), Europe (08:02), Asia (12:21).
We are only a few days into President Trump’s new term, but already there has been a lot of action. Over 25 executive orders have been signed, and we discuss what these might mean for the macro economic outlook. In Europe, we look at the likely 25bp cut by the ECB, signs of short-term positivity in the region and the possible response to Trump’s policies. Finally, we focus on how the latest developments impact China and what policy response, if any, is on its way. Chapters: US (01:53), Europe (07:31), Asia (10:32).
We’ve had a very busy start to the year and the excitement is likely to continue with the focus on Donald Trump’s inauguration on Monday 20th January. In this episode, we outline what policy announcements to expect in the early part of Trump’s second term, and how Asian economies may respond. In Europe we will be digging into recent UK market volatility and prospects for the labour market. And last but certainly not least, we preview the Bank of Japan decision, where we expect a 25bp hike. Chapters: Markets (01:08) US (02:11), Asia (09:31), Europe (12:56), Japan (18:04).
The week ahead promises to be another eventful one, with key CPI data in the US and the UK. We also have tier-1 data in China and a couple of central bank decisions in Asia. Recent comments from President-elect Trump particularly on tariffs, could provide some hints of what’s to come as we approach his inauguration. We will close with a special segment focusing on the outlook for Asian currencies, which have been facing significant pressures recently and are therefore in the spotlight. Chapters: US (01:35), Europe (07:11), Asia (11:18), Asia FX (18:37).
This year could be all about Trump, tariffs, and potentially turbulence. In this episode, we discuss our recently published annual outlooks and shine a spotlight on the key data and events over the coming week. In the US, our focus will be on the services ISM and payrolls reports. In Europe, CPI and final December PMI data will be released. Then it's the latest from Asia, with Japan earnings, China loan data, and CPI reports from across the region. Chapters: US (03:46), Europe (09:10), Asia (14:05).
Year end is approaching fast, but we still have key central bank meetings and data to look out for next week. In the US, our focus will be on the Fed policy decision, and the latest core inflation and activity readings. In Europe, the Bank of England meets, and key labour market and inflation data will be released. Then it’s the latest from Asia, with the Bank of Japan and four other central banks across the region set to make policy announcements. Chapters: US (02:00), Europe (06:20), China (10:10), Japan (15:30), Rest of Asia (17:04)
Starting next week we have monetary policy decisions from the European Central Bank, Swiss National Bank and the Reserve Bank of Australia. These along with a few key data releases set the tone for the week after which is promising to be a blockbuster week, when we have the Fed, Bank of Japan and Bank of England, plus a few central banks in Asia all on deck. We also have a special segment in this episode where we focus on the 2025 outlook for Asia. Chapters: US (01:56), Europe (08:04), Asia (13:26), Asia 2025 Outlook (14:43)
Trump’s tariff announcements have started to move markets. We discuss how to interpret the latest US political developments and provide a preview of this week’s all important labour market data. In Asia, the Reserve Bank of India is set to meet and may offer some dovish guidance. While in Europe, we preview the PMIs and Swiss inflation data. Chapters: US (02:18), Asia (10:08), Europe (16:14).
Inflation and policy rates are returning towards normal in many countries. This week our focus turns back towards normal market drivers. We discuss core inflation in the US and the latest set of Fed meeting minutes. Across Europe, we have a number of central bank speakers, key inflation and growth readings to watch out for, as well as Tokyo inflation, China PMIs and central bank meetings in Korea and New Zealand. Chapters: US (02:17), Europe (05:22), Korea (08:22), Rest of Asia (10:37).
In last week’s podcast we focused on the US and China following Donald Trump’s win in the US presidential elections. This week we continue to discuss the implications of Trump 2.0 on other parts of the globe. Also on deck next week are US housing starts data, CPI prints in the UK and Japan, as well as Bank Indonesia likely again pausing amid external aftershocks from the US election. Chapters: US (02:03), Europe (07:54), Japan (12:31), Asia (17:53)
Following Donald Trump’s win in the US presidential elections, we outline the new policy outlook and what we think it means for the global economy and markets. We also discuss the National People’s Congress in China, with the policy decisions there likely to shape investors’ perceptions of both the outlook in China but also the broader impact on risk sentiment and global growth dynamics.
Chapters: US (02:30), Asia (11:04), Europe (14:36)
It’s been a busy past week with European Q3 GDP data and an expansionary UK budget, which led to a rise in European and UK bond yields. We also saw China PMI data print a tiny bit better and a pretty solid Q3 GDP growth report in the US. Over the coming week, it’s crunch time in the US with the election finally upon us. We discuss how markets may react as the results start to roll in next week. We also have at least five central bank meetings to look out for, and with an expected 25bp rate cut in the US.
Chapters: US (02:42), Europe (07:22), China (11:14), Rest of Asia (15:09)
This week we witnessed some pretty material moves in markets. There was a rate cut announcement from the Bank of Canada and the theme of growth exceptionalism in the US, combined with communication from various Fed officials, has led the market to continue to unwind some of its prior aggressive Fed rate cut expectations. As we look ahead to the coming week, things are going to really heat up with US Payrolls and inflation data, European GDP, the UK budget, China PMI, and inflation reports in Indonesia and Australia. And of course, the US election race is coming down to the wire. Chapters: US (02:14), Europe (07:57), China (10:33), Rest of Asia (15:51)
In this episode, we discuss the upcoming US elections, and how US economic sentiment has been holding up in the second half of the year. In Europe, the focus next week will be on flash PMIs, especially after the ECB noted that they have seen downside surprises in indicators of economic activity. Could UK public sector borrowing numbers change the game for the UK budget? In Asia, the focus is on Japan where we have crucial inflation data for October.
Chapters: US (01:16), Europe (08:11), Asia (10:24)
Central banks remain very much in focus over the coming week, with policy meetings in Europe and across Asia. We’re expecting rate cuts from two of those and the theme of divergence, based on local dynamics, seems very much in play. Some central banks look set to deliver more easing than perhaps would have been expected only a month ago, but some a little less. Aside from the central banks, we’ll need to watch out for fiscal policy news from China, as well as ongoing developments in the Middle East.
Chapters: US (02:13), Europe (06:17), Asia (09:26), China (12:56)
What we have seen so far this week is markets buoyed by recent announcements regarding China policy stimulus but then troubled by developments in the middle east. Coming up, we expect rate cuts in India, Korea and New Zealand next week, and from the ECB soon after. We are recording this podcast ahead of US Payrolls data which has become an increasingly critical release for markets.
Chapters: US (02:17), Europe (07:54), Asia (10:54)
As we celebrate our 200th episode, we have a big week coming up in the US with the labour market report. In Europe, the most important data next week is euro area flash inflation, and we discuss whether inflation data may edge the ECB closer to an October rate cut. In Asia, the focus is on China's PMIs and Japanese industrial production.
Chapters: US (01:20), Europe (05:55), Asia (10:27)
It’s been a busy week in the US, the Fed surprised many Economists by kicking off its cutting cycle with a 50bp cut. Is it a speedy descent for US rates from here? Also coming up this week, Europe is at the center of the action with several important data releases - we have flash PMIs, Spanish and French inflation and central bank meetings in Sweden and Switzerland. Then, it’s the latest from Asia with Australia’s RBA decision, Tokyo CPI and BOJ minutes.
Chapters: US (01:16), Europe (04:30), Asia (08:53)
Coming up this week, in the US we expect the Fed to commence its easing campaign, with a 25bp move. Across Europe, the focus will be on the Bank of England policy meeting. Then it’s the latest from Asia, with central bank meetings in Japan, Indonesia and Taiwan.
Chapters: US (01:15), Europe (05:18), Asia (07:54)
It’s been another interesting week in global markets with equities and commodity prices having another serious wobble, and bond yields declining, surprising many.
This week we consider the latest US election polling numbers and what a Trump presidency might mean for economies and markets. We also look towards the coming ECB meeting, which should be a key highlight of the week ahead, along with China data.
We are recording this ahead of critical US Payrolls data, which could well determine whether the Fed delivers a 25 or 50bp rate cut later this month.
Chapters: US (01:47), Europe (07:11), Asia (09:41)
Hear from George Moran, Host & European Economist, Andrzej Szczepaniak, Senior European Economist and Ruchir Sharma, US Economist, as they review the key market drivers over the week ahead. Euro area and US inflation data should tee up central banks for more cutting in September.
Chapters: US (02:40), Europe (06:36), Asia (11:29)
Hear from Andrew Ticehurst, Host & Australia Economist, George Buckley, Chief UK & Euro Area Economist, David Seif, Chief Economist for Developed Markets, and Charnon Boonnuch, Asia Economist, as they review the key market drivers over the week ahead. New Zealand and the Philippines join the rate cut pack, while the Fed remains on track to deliver a first 25bp rate cut in September.
Chapters: US (02:22), Europe (08:45), Asia (11:49)
Hear from George Moran, Host & European Economist, Jeremy Schwartz, Senior US Economist, and Dominic Bunning, Head of G10 FX Strategy, as they review the key market drivers over the week ahead. Market uncertainty is rife. Key data from the US and UK may set the record straight.
Chapters: Week Ahead Key Themes with Dominic Bunning (01:12), US (05:11), Europe (09:38), Asia (13:41)
Hear from Andrew Ticehurst, Host and Australia Economist, David Seif, Chief Economist for Developed Markets, and George Buckley, Chief UK & Euro Area Economist, as they review the key market drivers over the week ahead. The central bank divide widens, with a second rate hike in Japan, and a first cut in the UK.
Chapters: US (02:29), Europe (11:12), Asia (14:57)
Hear from George Moran, Host & European Economist, David Seif, Chief Economist for Developed Markets, Andrzej Szczepaniak, Senior European Economist, and Yusuke Miyairi, FX Strategist, as they review the key market drivers over the week ahead. It's one of the busiest weeks on the podcast with the FOMC, BoE, BOJ, nonfarm payroll and top-tier data out of the Euro area.
Chapters: US (02:20), Europe (07:53), Asia (12:00)
Hear from Andrew Ticehurst, Host and Australia Economist, Jeremy Schwartz, Senior US Economist, Andrzej Szczepaniak, Senior European Economist, and Jeong Woo Park, Asia Economist, as they review the key market drivers over the week ahead. The easing cycle has commenced, but central banks are running their own race.
Chapters: US (01:13), Europe (06:14), Asia (09:08)
Hear from George Moran, Host & European Economist, George Buckley, Chief UK & Euro Area Economist, and Hannah Liu, China Economist, as they discuss the key drivers for global markets next week. Europe will be in focus this week with crucial UK data and ECB rate decision due. China is also likely to face continued economic pressure.
Chapters: US (01:30), Europe (04:14), Asia (9:10)
Hear from George Moran, Host & European Economist, David Seif, Chief Economist for Developed Markets, and George Buckley, Chief UK & Euro Area Economist, as they discuss the key drivers for global markets next week. Political events are moving fast in the UK, France and the US, but markets will probably move the most, as they typically do, on US CPI.
Chapters: US (01:12), Europe (06:54), Asia (13:12)
Hear from Andrew Ticehurst, Host and Australia Economist, Ruchir Sharma, US Economist, and Andrzej Szczepaniak, Senior European Economist as they discuss the key drivers for global markets next week. The focus turns to elections over the coming week, but inflation still matters.
Chapters: U.S. (01:15), Europe (05:34), Asia (10:41)
Hear from Andrew Ticehurst, Host and Australia Economist, Kohei Okazaki, Senior Japan Economist, Andrzej Szczepaniak, Senior European Economist and Hannah Liu, China Economist, as they review the key market drivers over the week ahead. Markets to seek confirmation that US inflation is moderating, with multiple Fed rate cuts now priced.
Hear from George Moran, Host & European Economist and George Buckley, Chief UK and Euro Area Economist, as they discuss the key drivers for global markets over the coming week. It’s decision time for central banks with three meetings in Europe and three in Asia, although ultimately most central banks are likely to remain on hold.
Chapters: U.S. (01:14), Europe (07:06), Asia (14:09)
Hear from Andrew Ticehurst, Host and Australia Economist, Jeremy Schwartz, Senior U.S. Economist, Andrzej Szczepaniak, Senior European Economist and Kohei Okazaki, Senior Japan Economist as they discuss the key themes driving global markets over the coming week. After rate cuts in Canada and Europe, focus turns to the Fed and the Bank of Japan.
Chapters: U.S. (01:28), Europe (05:29), Asia (10:29)
Hear from George Moran, Host & European Economist, Ruchir Sharma, US Economist and Andrzej Szczepaniak, Senior European Economist as they review the key market drivers over the week ahead. Markets eagerly await whether NFP will surprise to the downside for a second month and the ECB to deliver the worst-kept-secret cut.
Chapters: U.S. (02:00), Europe (07:50), Asia (12:23)
Hear from Andrew Ticehurst, Host and Australia Economist, George Moran, European Economist, Jeremy Schwartz, Senior US Economist and Hannah Liu, China Economist, as they review the key market drivers over the week ahead. US core PCE inflation data, out late next week, hold the key for markets.
Chapters: U.S. (01:22), Europe (05:42), Asia (08:53)
Hear from Andrew Ticehurst, Host and Australia Economist, George Buckley, Chief UK and Euro Area Economist, Jeremy Schwartz, Senior US Economist and Euben Paracuelles, Chief ASEAN Economist as they review the key market drivers over the week ahead. Cooler US data are causing markets to run hot, but can the trend continue next week?
Chapters: U.S. (01:35), Europe (06:07), Asia (10:23)
George Moran, Host and European Economist, David Seif, Chief Development Markets Economist and George Buckley, Chief UK & Euro Area Economist discuss the key themes driving global markets over the coming week. US CPI is poised to slow but still providing little relief to the Fed, and the UK labour market report a key test for a Bank of England rate cut.
Chapters: U.S. (01:17), Europe (05:18), Asia (08:24)
Hear from Andrew Ticehurst, Host and Australia Economist, George Buckley, Chief UK and Euro Area Economist, Kohei Okazaki, Senior Japan Economist and Hannah Liu, China Economist as they review review FOMC communication, Yen volatility and look to key market drivers over the week ahead.
Chapters: Europe (02:59), U.S. (07:16), Japan (08:47), China (11:43), Asia (14:42)
Hear from Andrew Ticehurst, Host and Australia Economist, Andrzej Szczepaniak, Senior European Economist, Jeremy Schwartz, U.S. Economist and Hannah Liu, China Economist as they discuss this week’s central bank and data surprises, and share their take on key economic reports and events over the coming week.
Chapters: U.S. (02:34), Europe (08:47), Asia (12:50)
The U.S. economic machine rolls on and the BoE and ECB are now likely to cut a slower pace. Hear from George Moran, Host and European Economist, Jeremy Schwartz, U.S. Economist, and Kohei Okazaki, Senior Japan Economist, as they discuss their take on key U.S., Europe and Asia data out next week.
Chapters: (U.S. 03:20), (Euro Area 06:12), (Asia 11:51)
Hear from Andrew Ticehurst, Host and Australia Economist, George Buckley, Chief UK and Euro Area Economist, Ruchir Sharma, US Economist and Hannah Liu, China Economist as they discuss this week’s US CPI surprise and market reaction, and share their take on key US, Europe and Asia data out next week.
Chapters: (US 02:19), (Euro Area 06:21), (Asia 10:18)
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (02:15), we have CPI, the FOMC minutes and PPI. In Europe (07:00), it’s the euro area Sentix, ECB policy meeting and UK GDP. Then it’s the latest from Asia (11:15) with China and India CPI, RBNZ meeting as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (03:05), we have ISM, payroll reports and communication from key Fed officials. In Europe (06:35), we have PMI, inflation and uemployment data. Then it’s the latest from Asia (9:30), with a central bank meeting in India, the Bank of Japan Tankan survey, and PMI and inflation releases across the region.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (02:10), we have the PCE deflator, consumer confidence and durable goods orders. In Europe (07:06), it’s the euro area consumer confidence, money supply and French, Italian and Spanish flash inflation. Then it’s the latest from Asia (11:25), with Tokyo and Australian CPI, as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (02:55), we have the Federal Reserve meeting and press conference with Fed Chair Powell. In the UK (11:36), we have the Bank of England meeting and CPI data, and in Europe, the latest ZEW surveys and several ECB speakers. Then it’s the latest from Asia (14:57), with a key policy meeting at the Bank of Japan (08:08), more central bank meetings in Indonesia, Taiwan and Australia, and monthly activity data for China.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (04:36), we have CPI, retail sales and PPI. In Europe (11:07), it’s the euro area industrial production, Sweden and Norway CPI and UK labour market data. Then it’s the latest from Asia (13:49), with India and China CPI and the PBOC’s MLF rate decision, as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In North America (01:16), we have ISM and Payrolls, testimony from Fed Chair Powell and a Bank of Canada policy meeting. In Europe (05:19), the focus will be on the European Central Bank meeting and post-meeting press conference with ECB president Lagarde. And then it’s the latest from Asia (10:34), with inflation and earnings data in Japan, China aggregate financing and RBM loan growth, Korea industrial production and CPI, Australia GDP and the Bank Negara policy meeting.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (02:11), we have core PCE inflation, house prices and consumer confidence. In Europe (07:00), it’s the euro area consumer confidence, French, German and Spanish flash inflation and UK lending data. Then it’s the latest from Asia (11:00), with the China PMIs, Indonesia, Japan CPI and the RBNZ meeting as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (02:38), we have the latest Fed meeting minutes and jobless claims, Fed-speak and PMI data. In Europe (05:49), the focus will be on inflation expectations, PMI data and communication from ECB officials. Then it’s the latest from Asia (09:38), with central bank meetings in Indonesia and Korea, and Australian wages data and RBA meeting minutes.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (02:20), we have CPI, retail sales, industrial production and PPI. In Europe (06:11), it’s the UK CPI, GDP, labour market data and the German ZEW. Then it’s the latest from Asia (11:12) with the Australian labour market report, India CPI and Japanese GDP as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (02:27), we have the service sector ISM report and the Fed’s latest Senior Loan Officer survey. In Europe (06:53), the focus will be on German industrial production, the February Sentix survey of investor sentiment and latest ECB bulletin. Then it’s the latest from Asia (08:22), with China CPI and Japan earnings data, along with central bank meetings in India and Australia.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (2:15), we have ISM manufacturing, non-farm payrolls and the FOMC meeting. In Europe (05:42) it’s the Bank of England and Riksbank’s policy decisions, euro area GDP and flash inflation. Then it’s the latest from Asia (11:46) with Australia CPI, China PMI, Indonesia CPI as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:12), we have Q4 GDP, January purchasing manager index (PMI) and key inflation data. In Europe (09:15), the focus will be on the ECB policy meeting, a German IFO report and PMI data. Then it’s the latest from Asia (12:29), with central bank meetings in Japan and Malaysia, the Korea Q4 GDP report, industrial production data for Taiwan and Singapore, and an inflation report in Singapore too.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (02:29), we have retail sales, industrial production and UoM consumer expectations. In Europe (06:57), it’s the Germany ZEW survey, ECB December meeting minutes, UK labour market and CPI data. Then it’s the latest from Asia (10:40), with China GDP, PBoC, BI and BOT policy decisions, Japan CPI, as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:52), we have CPI inflation and trade data, several speeches by Fed officials, and monthly bond supply. In Europe (04:20), we’ll receive investor, consumer confidence and unemployment data, and German factory orders and industrial production data. Then it’s the latest from Asia (08:31), with CPI inflation and earnings data in Japan, China new loan and CPI inflation data, India CPI inflation and industrial production data, and the Bank of Korea meeting.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:17), we have consumer confidence, PCE deflator and new/existing home sales. In Europe (04:20), it’s the Euro Area consumer confidence, German IFO survey, UK CPI and retail sales. Then it’s the latest from Asia (09:00), with BOJ meeting, Japan CPI as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:34), the highlights will be CPI, retail sales, and industrial production data, along with the final FOMC meeting of the year. In Europe (05:58), we have industrial production data and the ECB and BOE meetings. Then it’s the latest from Asia (10:32), with China monthly activity data, the Japan Tankan report, India industrial production and CPI data and central bank meetings in Taiwan and the Philippines, as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:34), non-farm payrolls, ISM services and the University of Michigan sentiment survey. In Europe (05:30), it’s the euro area Sentix survey and wage data, the ECB consumer inflation expectations survey and the UK’s REC Report on Jobs survey. Then it’s the latest from Asia (11:50), with China CPI, Tokyo CPI and the RBA policy decision as well as Global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:58), we have the Fed Beige Book, core PCE inflation data, jobless claims and the November manufacturing ISM report. In Europe (06:24), the highlight will be flash inflation data for the euro area, UK lending data and euro area unemployment. Then it’s the latest from Asia (09:29), with RBNZ, Bank of Thailand, and Bank of Korea meetings, Japan industrial production and unemployment data, India GDP, China PMI, and Australia and Indonesia CPI inflation data, as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:30), we have the FOMC minutes, durable goods orders and the Thanksgiving holiday. In Europe (06:04), it’s the UK Autumn budget, European flash PMIs and the Riksbank meeting. Then it’s the latest from Asia (11:56) with Japan, Singapore and Malaysia CPI, Indonesia policy rate decision, and the RBA minutes as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:37), we have retail sales, IP, regional fed manufacturing surveys, and housing starts as well as Powell speaking and Canadian CPI. In Europe (07:51), it’s UK CPI, labour markets and retail sales along with German ZEW. Then it’s the latest from Asia (14:38), with the BOK and BI meetings, Japan and New Zealand CPI, China GDP and RBA minutes, as well as macro notes of the week all to discuss (04:55).
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:50), we have CPI, PPI, the NFIB, UoM sentiment and FOMC minutes. In Europe (11:53), it’s the Sentix survey, the ECB minutes, UK RICs and BOE credit conditions, Sweden and Norway CPI. Then it’s the latest from Asia (18:16), with China and India CPI, China FX reserves, credit data, Japan BOP, PPI, the BOJ opinion survey as well as macro notes of the week all to discuss (05:56).
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (02:04), it would be NFP, JOLTs, factory orders and the trade balance if it wasn’t for the US government shutdown. So instead, we’re left with ISM manufacturing and services, ADP, weekly claims and Manheim used vehicles to drive price action. In Europe (15:43), it’s Euro Area unemployment, retail sales and PPI, German factory orders, UK nationwide house prices and the BOE DMP data, as well as PMIs in Sweden, Norway and Switzerland. Then it’s the latest from Asia (22:13), with the RBA, RBNZ and RBI meeting, China PMIs, Korea, Indonesia, Taiwan and Thailand CPI, BOJ’s summary of opinions, and labour data.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:56), we have PCE, durable goods and regional surveys from the Richmond, Chicago and Dallas Fed along with UoM inflation expectations. In Europe (06:03), it’s Euro Area flash inflation, German unemployment and IFOs, UK GDP, mortgage approvals and nationwide house prices, Sweden PPI and economic tendency, Norges FX purchases and unemployment too. Then we discuss China PMIs (12:16), and the latest from Asia (23:33), with the BOT meeting, Caixin PMIs, BOJ minutes, Tokyo, Singapore, HK and Australia CPI, Japan and Australia retail sales, and NZ business confidence.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:58), we have the FOMC meeting, flash PMIs, the Philadelphia Fed, housing starts, Canada CPI and retail sales. In Europe (07:20), it’s the BOE, SNB, Riksbank and Norges bank as well as UK CPI and retail sales, German PPI and flash PMIs for September. Then it’s the latest from Asia (19:15) with the BOJ, BI, BSP and CBC meetings, Korean exports, Japan CPI, RBA minutes, NZ GDP as well as the Macro Notes of the Week all to discuss (13:57).
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:46) we have ISM services, factory orders and durable goods, the trade balance, unit labour costs and consumer credit. In Europe (03:08) it’s the Sentix survey, PPI, GDP figures, retail sales, final PMIs, German factory orders and French industrial production. Then it’s the latest from Asia (18:30), with the RBA and BNM meetings, China, Taiwan, Korea and Thailand inflation figures as well as macro notes of the week (10:40).
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:35), we have NFP, ADP, PCE, ISM and consumer confidence. In Europe (04:00), it’s flash CPI, final PMIs, German consumer confidence and euro area lending data. Then it’s the latest from Asia (12:44), with China PMIs, Korean IP and exports, India GDP as well as global macro notes of the week to discuss (10:31).
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:56), we have Jackson Hole, durable goods, flash PMIs and UoM sentiment. In Europe (08:40), it’s flash PMIs, Norway and German GDP, German IFOs, and German producer prices. Then it’s the latest from Asia (14:56), with the Bank of Korea, Bank Indonesia, China LPR, Singapore and Tokyo CPI as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:28), we have the FOMC minutes, retail sales, manufacturing and housing stats. In Europe (04:54), it’s the Norges bank, UK CPI, labour markets, retail sales, German ZEWs, Euro IP and Sweden CPI. Then it’s the latest from Asia (11:00), with the RBNZ, BSP meetings, Australia labour market, Japan and India CPI, as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:46), we have CPI, PPI, NFIB, consumer lending data, the UoM and the trade balance. In Europe (09:40), it’s the Euro Area Sentix survey, Norway CPI, Swiss FX reserves and the ECB’s consumer expectations survey. Then it’s the latest from Asia (18:33), with the RBI meeting, China CPI and lending data, the BOJ’s MPM opinion summary as well as global macro notes of the week all to discuss (04:57).
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:38), we have NFP, ADP, JOLTs, durable goods, challenger job cuts and regional surveys. In Europe (07:51), it’s the BOE and OPEC+ JMMC meetings, flash Euro and Swiss CPI, Sweden and Norway PMIs and the BOE decision maker panel. Then it’s the latest from Asia (17:27), with the RBA and BOT meetings, China PMI, Korea exports and CPI, as well as macro notes of the week all to discuss (03:46).
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:38) we have the FOMC meeting, PCE, GDP, ECI, PMIs, consumer confidence and durable goods. In Europe (11:00) it’s the ECB meeting, flash PMIs, German CPI, IFOs and confidence, Sweden PPI and UK CBI. Then it’s the latest from Asia (15:16) with the BOJ and BI meetings, Australia and Singapore CPI as well as macro notes of the week all to discuss (07:37).
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:30) we have Retail sales, IP, the Empire manufacturing and Philadelphia Fed surveys as well as Canadian CPI. In Europe (04:16) it’s UK CPI, retail sales, Rightmove house prices, CBI trends, German PPI and Euro zone confidence measures. Then it’s the latest from Asia (09:10) with Japan and NZ CPI, RBA minutes, China GDP as well as Global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:19), we have US CPI, PPI, consumer credit, small business optimism and the BOC. In Europe (07:17), it’s the sentix survey, German ZEWs, UK employment, Sweden and Norway CPI. Then it’s the latest from Asia (13:24), with the RBNZ, BOK, China and India CPI as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:42) we have NFP, JOLTs, ADP, FOMC minutes, Challenger job cuts, ISM and independence day. In Europe (14:55) it’s Norway and Sweden PMIs, the UK DMP, Swiss CPI, Euro PPI, German factory orders and Industrial production. Then it’s the latest from Asia (21:52) with the RBA and BNM meetings, inflation from Korea, Thailand, Philippines and Indonesia as well as Global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:35), we have consumer focused data with durable goods and consumer confidence but also PCE inflation. In Europe (05:36), it’s Euro Area flash inflation, the ECB’s Sintra and Sweden’s Riksbank meeting along with German IFOs. Then it’s the latest from Asia (12:00), with China PMIs, Tokyo CPI and Korea IP, as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:25), we have flash PMIs, any “hawkish hold” fed speak and the Philadelphia Fed non-manufacturing. In Europe (08:25), it’s the BOE, SNB and Norges bank meetings, UK CPI, retail sales, flash PMIs and German PPI. Then it’s the latest from Asia (16:55), with Japan CPI, the BSP and BI meetings, as well as the macro notes of the week to discuss (04:50).
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:28), we have ISM services, the Manheim used vehicle value index, April consumer credit as well as the Bank of Canada meeting. In Europe (12:02), it’s the Euro Sentix, peripheral PMIs, Swiss and Norway CPI, the OPEC meeting and UK RICs house prices. Then it’s the latest from Asia (23:20), with China CPI, the RBA and RBI meetings as well as the macro notes of the week to discuss (07:20).
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:09), we have employment, ISM, Fed speakers and tense debt ceiling negotiations. In Europe (11:36), it’s flash Euro inflation, Scandi PMIs and big changes to the BOE call. Then it’s the latest from Asia (19:43), with China PMIs, the BOT meeting, Aussie CPI, Japan labour data, as well as the macro notes of the week to discuss (05:20).
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:43) we have the debt ceiling, FOMC minutes, core PCE and UoM. In Europe (11:40), it’s the big flash PMI week, consumer confidence, IFOs and UK CPI and retail sales. Then it’s the latest from Asia (19:20) with the RBNZ, BI and BOK meetings, Tokyo CPI, as well as the macro notes of the week to discuss (08:16).
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:25), we have retail sales, regional fed surveys, banking stocks under pressure, debt limit talks and Canadian CPI. In Europe (13:10), it’s the German ZEWs and PPI, UK Labour markets, Turkey’s elections and Sweden inflation. Then it’s the latest from Asia (24:30), with China’s retail sales, RBA minutes, Japan CPI and as well as the macro notes of the week (08:50).
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US (01:40), we have the May FOMC meeting, ISM, NFP and JOLTs. In Europe (12:30), it’s the ECB, Norges bank, Euro and Swiss CPI. Then it’s the latest from Asia (26:00), with China PMIs, the RBA, Malaysia’s BNM, Thailand CPI, as well as our global macro notes of the week (06:30).
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US, we have debt limit concerns, ECI, GDP, regional Fed surveys and banking flows. In Europe it’s flash CPI in Germany, France and Spain, the German IFO and the Riksbank meeting. Then it’s the latest from Asia with the BOJ meeting, Australia, Singapore and Tokyo CPI, as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US we have flash PMIs, Empire State, Philly Fed, Canada CPI and US bank lending flows to track. In Europe it’s the German ZEWs, UK CPI, labour markets and flash PMIs too. Then it’s the latest from Asia with the BI meeting, China IP, RBA minutes, NZ and Japan CPI, as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US we have CPI, retail sales, banking flows and the Bank of Canada. In Europe it’s the Euro Sentix, UK RICs, Norway and Sweden CPI. Then it’s the latest from Asia with the BOK, MAS, China & India CPI, Japan and Australia labour markets, as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US and Canada, it’s all about jobs with NFP, ADP, JOLTs and ISM. With banking data worth tracking too. In Europe it’s Euro Area PPI, Swiss CPI, and PMIs for Sweden, Norway, Italy and Switzerland. Then it’s the latest from Asia with the RBA, RBNZ and RBI meetings, Korea, Thailand and Indonesia CPI, as well as global markets all to discuss.
In this episode, we discuss cyber security as an ESG factor or governance risk with Jason Mortimer, Head of Sustainable Investment for Fixed Income at Nomura Asset Management. We examine the growing threat of cyber security, regulatory tightening, and why it should be on the minds of ESG investors. We also take note of how Nomura Asset Management's approach to cyber security risk helps investors avoid companies that may be overly exposed to cyber attacks, by integrating measures of cyber security performance in the credit analysis of companies to help clients make better investment decisions.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US it’s PCE inflation, consumer confidence, GDP, Chicago PMI, Dallas Fed and UoM inflation expectations. In Europe it’s Flash CPI, German IFOs, UK mortgage approvals and Sweden’s economic tendency survey. Then it’s the latest from Asia with China PMIs, the BOT, Australia and Tokyo CPI, as well as global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US it’s the FOMC meeting, will they cut rates? Flash PMIs, durable goods orders and Canadian CPI. In Europe it’s the BOE, SNB and Norges bank. Flash PMIs, German ZEWs, PPI and UK CPI. Then it’s the latest from Asia with the BSP meeting, Japan and Singapore CPI and Global markets all to discuss
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US it’s all about CPI, PPI and retail sales. In Europe it’s the ECB meeting, final CPI figures, the UK budget, Labour markets and inflation expectations. Then it’s the latest from Asia with Japan’s Shunto wage negotiations, and Global markets all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US, we have a range of labour market data with NFP, ADP and JOLTs, the Bank of Canada meeting and a question on whether US data will continue to surprise. In Europe, it’s the Euro Sentix survey, retail sales, Norway CPI, UK trade and RICs house prices. Then it’s the latest from Asia with China’s national people’s congress, BOJ, BNM and RBA meetings, and global markets all to discuss.
In our latest Fireside Chats podcast, we speak with Charlie McElligott, Managing Director - Cross Asset Strategy, to ask him if the strong US data is a macro game changer. We discuss whether the latest data surprises will impact the US outlook, how far the rates re-pricing can go and where the next market narrative could fall.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US we have ISM manufacturing and services, durable goods orders, consumer confidence and trade data. In Europe, it’s Euro area flash CPI, confidence surveys, unemployment and PPI. As well as UK shop prices, consumer credit and inflation expectations. Then it’s the latest from Asia with Tokyo CPI, China PMIs, Korean exports and global markets all to discuss.
In this podcast, we talk with Ting Lu, our Chief China Economist from the Asia economics team to ask him if China’s reopening is running full steam ahead. We discuss how much of a growth and inflation bounce back we can expect from China’s reopening, the impact of government policy, the potential for a credit growth rebound, and what this means for the PBOC.
In this episode of our Week Ahead podcast series, we look at the main themes driving global markets over the coming week. In the US, we have the FOMC minutes, PCE, UoM, Chicago Fed PMIs and GDP. In Europe it’s flash PMI week, will the growth rebound continue? As well as ZEWs, IFOs, consumer confidence and UK CBI trends. Then it’s the latest from Asia with Japan CPI, the RBNZ and the BOK meetings all to discuss.
In this episode of our Week Ahead podcast series, we look at the main themes that will drive global markets over the coming week. In the US it’s all about US CPI – it will set the narrative for the month, along with retail sales, PPI, NFIB and Empire manufacturing. In Europe it’s the UK data week with CPI, labour market and retail sales as well as Euro industrial production. Then it’s the latest from Asia with the BSP and BI meetings, the new BOJ governor announcement in the works, Australian labour data and global markets all to discuss.
In this episode of our Week Ahead podcast series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US it’s used vehicle prices, the University of Michigan survey, Fedspeak and the senior loan officer survey. In Europe we’ve got the Riksbank, The Euro sentix, UK BRC and RICS housing data as well as a delayed German CPI. Then it’s the latest from Asia with the RBA, RBI meetings, China CPI and global markets all to discuss.
In this episode, we delve into global policy and regulatory themes for the year ahead with Andrew Bowley, Managing Director for Group Sustainability Strategy at Nomura. We examine whether ESG can regain the ground it lost in 2022 after banks threatened to leave key climate groups and asset managers faced pressure from investors and politicians over their primary duty to maximize returns. We also discuss the policy outlook in Japan with Kohei Okazaki, Nomura’s ESG policy expert. We discuss how Japan’s GX (green transformation) league may evolve and whether Japan will make progress on reducing its reliance on coal.
In this episode, we explore the outlook for sustainable M&A with Jeff McDermott, Global Co-Head of Investment Banking at Nomura. We hone in on the sectors to watch including carbon capture technologies and sustainable food, while considering whether the coming 12 months may be a tipping point for moving away from a fossil fuel economy.
We also discuss the outlook for ESG bond deals with Jarek Olszowka, Nomura’s Head of Sustainable Finance. We examine how the green bond market will continue to flourish and whether social bonds may see increased inflows amid the prospect of a global recession and a cost-of-living crisis. We also touch on the trend towards biodiversity and Japan’s booming market for transition bonds.
In this episode of our Week Ahead podcast series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US it’s the Fed meeting, expect 25bps but how soon will hikes come to an end? Data wise we have NFP, ADP, ISM and JOLTS too. In Europe we’ve got both the ECB and the BOE meetings, important CPI data and energy prices creating risks to the European growth rebound. Then it’s the latest from Asia and global markets all to discuss.
In this episode of our Week Ahead podcast series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US it’s PCE inflation, PMIs and GDP before the upcoming February FOMC meeting. In Europe it’s all about whether growth bounces back in IFOs and PMIs as well Labour strikes. The macro notes of the week have AUD CPI in focus, the latest from Asia and global markets is all to discuss.
In this episode of Fireside Chats, we talk with George Buckley and Andrzej Szczepaniak from the European Economics team to discuss if the ECB will be the last major central bank hiking in this cycle and their ECB policy outlook with consideration to the latest growth, inflation and labour markets data.
In this episode of our Week Ahead podcast series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US it’s Empire manufacturing, retail sales, PPI, Industrial production, Philadelphia Fed and Fed speakers. In Europe it’s German ZEWs, UK labour, CPI, retail sales and RICs housing data. Then we mix things up this week and share a few key macro notes from the team (with the BOJ in focus), the latest from Asia and Global markets all to discuss.
In this episode of our Week Ahead podcast series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US it’s arguably the most important event of the month with US CPI, the NFIB survey and UoM sentiment. In Europe it’s the Sentix survey, industrial production, UK BRC retail sales and the trade balance. Then it’s Australian and China inflation, China trade data, their COVID-19 moves and the current state of global markets all to discuss.
In this episode of our ESG 360 podcast, we review the key takeaways from the ESG in East Asia series, including the shortcomings in current ‘S’ data and why the ‘S’ component is under-researched. We take note of the data for five big geographies in East Asia and where, in particular, Japan and South Korea stand broadly versus peer countries. We also discuss the business opportunities inherent in the ‘S’ factor and which industries came out top.
In this episode of our Fireside Chats podcast series, we talk with Rob Subbaraman, Global Head of Macro Research, and Sonal Varma, Chief Economist India & AEJ, on the 2023 outlook. We discuss why the potential for a long recession awaits and how inflation might be more structural than we think, how Asia will possibly come out of 2023 leading the later recovery, and what black swans and grey rhinos keen readers should keep an eye on that could possibly upset the apple cart.
In this episode of Fireside Chats, we talk with George Buckley and Andrzej Szczepaniak from the European Economics team on how hot inflation will be going into the new year to keep the ECB and BOE hiking for longer, what decisions the ECB and BOE will make this week and the key risks heading into 2023.
In this episode of our Week Ahead podcast series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US it’s CPI, retail sales, NFIB, PMIs and the Fed meeting. In Europe it’s the big week of the year with the meetings of ECB, BOE, SNB and Norges as well as global PMIs and UK CPI. Then it’s the latest in a wave of Russian attacks in Ukraine, the energy price cap on oil, the relaxing of China COVID-19 measures and the current state of global markets all to discuss.
In this episode of ESG360, we explore how companies in East Asia need to rethink their working patterns and expectations for all employees in order to unlock the diversity dividend. We discuss how Diversity, Equity and Inclusion need to be considered as connected components within a company’s overall strategy. To transform diversity into inclusion, companies should provide personal and professional development opportunities, which enables all employees to realize their potential.
In this episode of our Week Ahead podcast series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US it’s ISM services, PPI the trade balance and the University of Michigan survey. In Europe the focus is on OPEC+, EU oil sanctions, the Sentix survey, falling UK house prices and pockets of credit stress. Then it’s the RBA and RBI meetings, the relaxing of China COVID-19 measures and the current state of global markets all to discuss.
In this episode of our Week Ahead podcast series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US it’s a speech from Chair Powell, NFP, JOLTs, ADP, Chicago PMI and ISM. In Europe the focus is on inflation and whether it will surprise us once again along with a focus on union negotiations. Then it’s critical energy infrastructure being hit in Ukraine and supply side problems building elsewhere, the rise of China COVID-19 cases and the current state of global markets all to discuss.
In this episode of ESG360, we explore some of the key discussions at the UN’s COP27 climate conference held between November 6-18, 2022 in Sharm El Sheikh, Egypt.
Against the backdrop of Russia’s invasion of Ukraine, energy security concerns complicated discussions around climate change as come countries burned more fossil fuels in the short time while making plans to accelerate the rollout of renewables to reclaim their energy independence. Discussion centered around the creation of a loss and damages fund to compensate developing countries bearing the brunt of climate disasters. Reducing greenhouse gases like methane and a $20 billion deal to help Indonesia move away from coal were notable successes in contrast to thornier issues like phasing down all fossil fuels.
In this episode of our Week Ahead podcast series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US it’s the FOMC minutes, Durable goods, PMIs and Fed speakers. In Europe it will be German PPI and IFO, flash PMIs, UK CBI trends and ECB speakers. Then it’s a potential hike at the Riksbank and RBNZ meeting, escalations in Ukraine, China COVID concerns and the current state of Global markets all to discuss.
In this episode of Fireside Chats, we speak with our US Economists about Rob Dent and Aichi Amemiya on what the weak CPI number means for the Fed, markets and of course a recap on the midterms too. We also discuss the potential path of CPI and how results from the midterms could impact markets going forward.
In this episode of our Week Ahead podcast series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US it’s PPI, retail sales, the Phili Fed, industrial production and Canada’s CPI. In Europe it will be German ZEWs and a big week for the UK with the fiscal update, CPI and labour market figures. Then it’s Japan’s CPI, the G20 summit, Russian retreat in Ukraine, China COVID concerns and the current state of global markets all to discuss.
In this episode of our Week Ahead podcast series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, it’s all about CPI, the University of Michigan survey and the US midterms. In Europe it will be the Sentix data, ECB speakers and the aftermath of the dovish BOE. Then it’s the threat of Russian escalation in Ukraine, rising lockdown measures in China and the current state of global markets all to discuss.
In this episode of our Week Ahead podcast series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, it’s the Fed meeting – will they signal a slowdown in hikes to come? In Europe, it will be the BOE meeting, flash inflation and unemployment figures. Then we have FX intervention in Japan, the RBA meeting, the threat of Russian escalation in Ukraine, rising lockdown measures in China and the current state of Global markets all to discuss.
In this episode of ESG360, we explore how companies in East Asia are tackling the challenge of gender diversity in the workplace and embracing disabled workers. Amid a long period of economic prosperity, East Asia is facing a shortage of workers due to demographic factors, which could help its companies become more inclusive as they look to fill the gap
In this episode of our Week Ahead podcast series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US it’s PCE, ECI, University of Michigan, flash PMIs and the Bank of Canada meeting. In Europe it will be flash PMIs, flash German CPI, German IFOs, Economic confidence indices and the all-important ECB meeting. In Ukraine a new push is underway, we have Australian CPI, the Bank of Japan, the new Chinese Politburo Standing Committee members debut and the current state of global markets all to discuss.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US it’s the SPR release decision, Fed members’ reaction to CPI and growth surveys. In Europe it’s German ZEWs, consumer confidence, the current account, fuel shortages in France, UK CPI and the risks of defaults. In Ukraine we wait to see the next escalation. We also take note of fresh China-US tensions, events in Asia and the current state of global markets all to discuss.
In this podcast, we speak with our US Economists about the recent moves in US markets including exploring the question of how will the Fed be thinking about financial stability and global spill overs in a high-inflation environment. We also take a look at the key criteria for the Fed to slow the pace of hikes, and how markets should be weighing incoming data.
In this episode of ESG360, 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. Food and agriculture represents 25% of global greenhouse gas emissions and farming is responsible for about 70% of global water use making innovation in this area critical if the world stands a chance of reaching Net Zero by 2050.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US it’s inflation week, arguably the most important data point of the month to see if core inflation slows down. In Europe it’s about the growth data, politics and energy prices with the market wondering if the UK is the canary in the coalmine. In Japan the question is if we see more FX intervention, how far will the push in Ukraine go, events in Asia and the current state of Global markets all to discuss
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have NFP, ISM, PMIs, Factory orders and Fed speakers. In Europe we have an energy policy summit, OPEC, Euro PPI and the UK in a state of flux. Then we’ll discuss the RBA, RBNZ, the situation in Ukraine, events in Asia and the current state of global markets.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have NFP, ISM, PMIs, Factory orders and Fed speakers. In Europe we have an energy policy summit, OPEC, Euro PPI and the UK in a state of flux. Then we’ll discuss the RBA, RBNZ, the situation in Ukraine, events in Asia and the current state of global markets.
In this episode, we’ll be talking with George Buckley from the European Economics team and Andy Chaytor from desk strategy on what they expect for the upcoming BOE meeting and the impact of UK energy policy on markets.
In this episode, we’ll be talking with George Buckley from the European Economics team and Andy Chaytor from desk strategy on what they expect for the upcoming BOE meeting and the impact of UK energy policy on markets.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have the PMIs and the Fed meeting – will they hike by 100bps? In Europe we have a lot of central banks; the BOE, Norges, Riksbank and the SNB. We also have the UK’s mini budget, PMIs and Italian political risks to consider too. Then we’ll discuss the possible JPY intervention at the BOJ meeting, the energy crisis, events in Asia and the current state of global markets.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have the PMIs and the Fed meeting – will they hike by 100bps? In Europe we have a lot of central banks; the BOE, Norges, Riksbank and the SNB. We also have the UK’s mini budget, PMIs and Italian political risks to consider too. Then we’ll discuss the possible JPY intervention at the BOJ meeting, the energy crisis, events in Asia and the current state of global markets.
In this episode, we’ll be talking to George Buckley and Andrzej Szczepaniak from the European Economics team on what the hawkish turn from the European Central Bank means for the Euro Area. We discuss the direction of growth and inflation in the Euro Area and how the ECB could keep up the pressure on rates despite the growth story. Lastly, we discuss the risks around the outlook.
In this episode, we’ll be talking to George Buckley and Andrzej Szczepaniak from the European Economics team on what the hawkish turn from the European Central Bank means for the Euro Area. We discuss the direction of growth and inflation in the Euro Area and how the ECB could keep up the pressure on rates despite the growth story. Lastly, we discuss the risks around the outlook.
In this episode of ESG360, we explore the five factors behind electricity shortages in Japan and how they can be tackled. We also discuss part 4 of our ESG in East Asia series, which focuses on how companies in South Korea can adapt to counter demographic challenges like an aging population and low birth rate.
In this episode of ESG360, we explore the five factors behind electricity shortages in Japan and how they can be tackled. We also discuss part 4 of our ESG in East Asia series, which focuses on how companies in South Korea can adapt to counter demographic challenges like an aging population and low birth rate.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have ISM manufacturing, ADP, NFP, consumer confidence and Chicago PMI. In Europe we have Flash CPI, producer prices, growth surveys, employment figures and UK borrowing numbers. Then it’s the energy crisis, Russia, events in Asia and the current state of Global markets all to discuss.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have the Jackson hole meeting, core PCE, PMIs, Durable goods and inflation expectations. In Europe it’s the big survey week with PMIs, consumer and business confidence indices as well as political moves. Then it’s the energy crisis, droughts, Ukraine’s counter offensive, events in Asia and the current state of Global markets all to discuss.
In this episode of our Fireside Chats series we’ll be talking with Rob Subbaraman and Sonal Varma from the Asia Economics team on what a US recession means for Asia and why EM is skating on thin ice. We'll discuss which countries in Asia are most exposed to Global recession risks and what the combination of high inflation but lower Global growth means for policy makers. Lastly, we discuss the risks around the outlook.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have the FOMC minutes, Industrial production, US housing starts and retail sales. In Europe it’s a big week for UK data with the labour market report and inflation. As well as ZEW and German PPI as well as the Norges bank meeting. Then it’s the energy crisis, droughts, Ukraine’s counter offensive, events in Asia and the current state of Global markets all to discuss.
In this episode of ESG360, 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. A further interesting point is that solar stocks have performed better than wind as some of these companies are not yet profitable highlighting the challenge investors face in their efforts to advance the green transition. We also cover the development of carbon markets in Japan and part 3 of our ESG in East Asia series, which focuses on navigating social data in South Korea and reveals the industries that disclose the most data.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have the important CPI and PPI numbers as well as consumer sentiment and Fed speakers. In Europe we have the Sentix survey, industrial production, UK house prices and retail sales. Then it’s the energy crisis, Ukraine’s counter offensive, events in Asia and the current state of Global markets all to discuss.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have NFP, Factory orders, ISM manufacturing and Fed speakers. In Europe we have the BOE meeting – will they accelerate rate hikes? Along with Euro PPI and German Factory orders. Then it’s the RBA and RBI meetings, Russia’s Nordstream moves, China’s Caixin PMI, events in Asia and the current state of Global markets all to discuss.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have the Fed meeting - will they hike 100bps? US PCE, Q2 GDP, Chicago PMI and consumer confidence. In Europe we have flash CPI, IFO and consumer confidence. Italian political dramas, droughts and markets reacting to the ECB. Then it’s Australia CPI and Tokyo CPI, the events in Asia and the current state of Global markets all to discuss.
In this episode of ESG360, we cover Employment Standards and how the best firms try to align their employees’ values and objectives with their own. We also reveal how one South Korean company’s increase in revenue per employee came at the environmental cost of a rise in greenhouse gas emissions per employee.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have the manufacturing PMIs, housing data and markets in a Fed blackout period waiting to see if we get a 100bps rate hike. In Europe we have the ECB meeting, consumer confidence and PMIs, Russia Grain negotiations, the Nordstream 1 shutdown risk, a UK Prime minister leadership race and UK CPI. Then it’s the BI and BOJ meetings along with Japan CPI, the RBA minutes, Canada CPI, events in Asia and the current state of Global markets all to discuss.
In this episode of our Fireside Chats series we’ll be talking with Takashi Miwa the Chief Economist for Japan and Naka Matsuzawa from the Global Macro strategy team. We'll discuss how Global recession risks and sky-high energy prices impact Japan, the arguments in favour of abandoning the BOJ’s yield curve control and why for now the BOJ is likely to stick with it.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have CPI, inflation expectations, retail sales and Fed speakers. We also expect hikes from the Bank of Canada and RBNZ too. In Europe we have the Nordstream 1 shutdown risk, a UK Prime minister leadership race, movements in Ukraine, German ZEWs and key UK housing surveys. In Japan we have the upper house election, a correlation breakdown in JPY, events in Asia and the current state of Global markets all to discuss
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have the FOMC minutes, ISM services, NFP and political tensions. In Europe we the Sentix survey, PPI, retail sales, ECB speakers and ECB accounts. UK strikes, NI protocol tensions and BOE speakers. We then have the RBA meeting, the situation in Ukraine, events in Asia and the current state of Global markets all to discuss.
In this episode of our Fireside Chats series we’ll be talking with Rob Dent from the US Economics team and Charlie McElligott from the desk strategy team on their views around US recession risks, policy reactions, and the impact on markets.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US the focus will be on monthly core PCE inflation and the June Chicago PMI and ISM manufacturing surveys. In Europe we have flash CPI and consumer confidence. Along with the potential for political moves in the UK after by-elections and rail strikes. We than have the situation in Ukraine, events in Asia and the current state of Global markets all to discuss.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have Chair Powell’s testimony, flash PMIs and many other Fed speakers. In Europe we have collapsing gas flows to consider and the extreme moves in EGBs, UK CPI and German PPI, lots of survey data and BOE speakers too. We then have Japanese and Canadian CPI, the Bank Indonesia, the situation in China and the current state of global markets all to discuss.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have the FOMC meeting, US retail sales and industrial production. In Europe we have political uncertainty in the UK, the BOE meeting, the battle for Ukraine, German ZEWs and final CPI. We then have a focus on the JPY into the BOJ meeting, the situation in China and the current state of Global markets all to discuss.
In this episode of ESG360, Dr Peter Matanle, Senior Lecturer at the University of Sheffield’s School of East Asian Studies speaks about a bold new project combining the commercial expertise of Nomura with the University of Sheffield’s prestigious School of East Asian Studies to deepen and broaden knowledge about a comparatively underdeveloped area of financial services research: ESG in East Asia: The ‘S’ Factor.
In part 1, Peter talks about the history and social principles behind the S in ESG including Asia’s long tradition of stakeholder inclusion. Japan’s model of welfare capitalism emerged in the inter-war years out of a combination of traditional values and firms needing to retain scarce high quality human capital. Early espousers of such an ethos were the 19th century capitalist Eichi Shibusawa, and Konosuke Matsushita, who founded and developed the Panasonic brand.
There is now widening acknowledgement that corporations are embedded in complex interdependent environmental, political-economic, and socio-cultural systems which they have profound effects upon, and which they gain from economically. Consequently, concern over their ‘socializing the cost and privatizing the profit’ has deepened.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, we have Non-farm payrolls, ISM and the last of Fed speakers before the blackout period. In Europe, we have flash inflation figures and ECB speakers, the UK’s spending plans and an intensification of the fight in Ukraine. We then have the BOC, lockdowns in China and the current state of Global markets all to discuss.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have core PCE, May PMIs, FOMC minutes and Fed speakers. In Europe we have a big survey week with IFOs, flash PMIs and consumer confidence and the Partygate report. We then have Japanese inflation, the RBNZ, Australian elections the lockdowns in China and the current state of Global markets all to discuss.
In this episode of our Fireside Chats series we’ll be talking with Rob Subbaraman and Sonal Varma from the Global Economics team on the state of Asia’s underlying inflation and what it means for the Macro outlook.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have retail sales, many fed speakers to watch and markets attempting to price the combination of higher inflation, but lower growth concerns. In Europe we have the big UK data week with CPI, retail sales and labour markets. European consumer confidence and producer prices to track and the natural gas crisis escalation. We then discuss the lockdowns in China, events in Asia the and current state of Global markets.
In this episode of our Fireside Chats series we’ll be talking with George Buckley from the European Economics team and Andy Chaytor from desk strategy on the materially new hawkishness from the ECB and the hot and cold approach of the Bank of England to monetary policy.
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.
Joe’s research found that stocks of high quality U.S. companies like those with good return on equity, have a long record of underperformance even though quality stocks have outperformed in other developed markets. But by adding good ESG features, a losing strategy can be transformed into a winning one, highlighting that quality scores often use measures of financial quality that miss important company features, like governance issues, which form a complete quality picture.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we have April CPI and the potential for Fed speakers to re-set the narrative. In Europe we have Russia’s victory day parade, German ZEWs and the Sentix survey. We then have the lockdowns in China, events in Asia the and current state of Global energy markets all to discuss.
In this episode of our Fireside Chats series we’ll be talking with Euben Paracuelles and Craig Chan on the state of ASEAN border reopenings.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we’ll be focused squarely on the Fed meeting as well as NFP, ISM and JOLTs data. In Europe we have the threat of gas supplies bring cut off, the Bank of England, Euro area producer price inflation and central bank speakers. We then have the RBA meeting, lockdowns in China, key data and the current state of Global energy markets all to discuss.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we’ll be tracking Core PCE, the Q1 employment cost index and university of Michigan survey. In Europe we have April’s flash inflation figures, German IFO, hawkish ECB speakers, Boris Johnson’s leadership in doubt and French elections too. We then have lockdowns in China, the BOJ, key data the and current state of Global energy markets all to discuss.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, we'll be watching for any signs of a slowdown in flash Markit US PMIs and the US housing sector. Whilst Fedspeak will likely set the stage for a 50bp rate hike and a balance sheet runoff announcement. In Europe we'll be tracking how survey data react to the Russia-Ukraine conflict, French election polls and the potential for more party gate fines for Boris Johnson. We then have lockdowns in China to discuss, the key data and current state of Global energy markets too.
In this episode of ESG360, we bring on Alex Wotton, Co-Head of Nomura Greentech, Industrials and Infrastructure in EMEA to discuss Europe’s plan to reduce its reliance on Russian fossil fuels and what that means for the energy transition.
The war in Ukraine may prove to be a watershed moment in the fight against climate change if it succeeds in catalysing countries to accelerate a move to greener power motivated by energy security. The war has underscored how geopolitics is inextricably linked to energy policy and climate outcomes. In March, the European Commission unveiled its ‘REPowerEU’ plan, a blueprint to reduce the bloc’s energy dependencies over concerns that Moscow could turn off gas supplies in retaliation to sanctions from the EU and US, and to avoid indirectly funding the invasion by buying Russian fossil fuels. Measures include quicker deployment of wind and solar, further developing a hydrogen market and streamlining authorisations to fast-track new power projects.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we’ve got CPI, retail sales, industrial production and several Fed speakers. In Europe we have the French elections, Russia sanctions, the ECB meeting and UK inflation. We then have the BOC, the RBNZ and MAS meetings, lockdowns in China and current state of Global energy markets.
In this episode of our Fireside Chats series we’ll be talking to George Buckley, Chief UK and Euro Area Economist, and Marco Brancolini, EGB desk strategist, about the upcoming French presidential election with the first round this upcoming weekend.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, we have the FOMC minutes and Fed speakers. In Europe the focus remains on Russia-Ukraine ceasefire talks, but we also have the Sentix, ECB minutes, PPI and thoughts on the French elections ahead. Finally, we take a look at the energy market situation, Global COVID-19 trends and the current lockdowns in China too.
In this episode of our Fireside Chats series we’ll be talking with Takashi Miwa from our Japan Economics team along with Yujiro Goto and Yusuke Miyairi on the recent JPY weakness and what we can expect ahead from policy makers.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, we have NFP, core PCE inflation to watch along with Fed speakers. In Europe we have flash inflation for March and growth surveys. But also we wait to see if RUB payments for energy go ahead or if this leads to Russia shutting off supply to Europe. Then we have the potential for a surprise from the OPEC meeting. JPY depreciation risks, Australia’s budget, Global COVID-19 trends, the Bank of Thailand and Chinese PMI all to watch out for.
In this episode of ESG360, we discuss the EU’s social taxonomy with Ella Chalfon, a managing director in Nomura’s Sustainable Finance team. The taxonomy gives the EU an opportunity to be a leader in determining what ‘good’ looks like on social issues while encouraging new investment in socially beneficial enterprises. It also provides a yardstick for investors to benchmark companies and hold them accountable on their social credentials.
Victoria Collins, Nomura’s Head of Climate Risk, also joins us to talk about how financial firms are managing climate risks arising from extreme weather like the $1.5 billion in damage caused by recent deadly flooding in Australia and how they are treating so-called stranded assets like coal-fired power stations when demand plummets. We also touch on the ESG implications in Ukraine, including how investors with a social mandate can address the unfolding humanitarian crisis, and the escalating risks from political instability and a change in country ratings.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, we’ll be tracking Fed speakers with seven participants forecasting at least one 50bp rate hike this year. In Europe we’ll be watching out for ceasefire talks, the potential for a Russia dollar bond default, the UK’s spring statement, CPI and a host of growth surveys. In Japan there is a risk we may hear more from officials on currency weakness, whilst we track the potential for more supply from OPEC, Global COVID-19 trends the potential for an LPR cut from China and the BSP meeting ahead.
In this episode of our Fireside Chats series we’ll be talking with economists Robert Dent and George Buckley on what Global economic impact we can expect from the Russia-Ukraine crisis. We start with the impact on growth and inflation. Next, we discuss how policy makers could react and current expectations. Finally, we discuss the factors outside of the crisis and some thoughts on FX.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, it will be the March FOMC meeting, will they hike by 25bps or by 50? In Europe the big focus will be on Ukraine and Russia and the impact on energy markets. But we also have the BOE meeting and the potential for a hike and ECB watchers forum to watch. In Australia we have the RBA board minutes then Global COVID-19 trends, the Bank Indonesia meeting and China’s activity data ahead.
In this episode of ESG360, we discuss solar power with Vinod Mukani, head of the Infrastructure and Power Business at Nomura. Solar energy has been making great strides in recent years as pressure builds on countries to reach net zero emissions goals. The latest available data from the International Renewable Energy Agency shows that solar capacity increased 22% to 127 gigawatts in 2020 compared to 2019. It’s projected to reach $223 billion by 2026.
Nomura recently acted on an innovative solar and battery storage financing for AMP Energy, a renewables specialist. The deal highlights 3 key trends and challenges. Firstly, the maturity and stability of solar photovoltaic panels has made them among the cheapest forms of energy production. Secondly, the renewables markets is global but jurisdictional nuances make financing a challenge, in particular the way renewables are subsidized vary between countries. Finally, there’s great demand for tailored financing whether it’s for distributed solar that’s produced using rooftop systems or community solar projects that power multiple properties from a central source.
In this episode of our Fireside Chats series we’ll be talking with US economists Robert Dent and Aichi Amemiya on their thoughts for US growth, inflation and the big call on the Fed meeting. We start with the outlook for growth and inflation. Next, we discuss what policy levers are expected to be pulled and how quickly and how hard will the Fed go. Finally, we discuss the risks to the view with rising oil prices and tensions in Ukraine and Russia.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, it will be busy with Fedspeak, NFP and ISM surveys, and Geopolitics. In Europe a big focus will be on Russia/Ukraine and the potential for more violence and sanctions, but also Euro area flash inflation and what the rise in oil means for CPI ahead. Finally, The RBA meeting, The Bank of Canada, COVID-19 trends and the events in Asia ahead.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, it’s a holiday shortened week but we have core PCE, Inflation expectations and key Fed speakers. In Europe a big focus will be on Russia/Ukraine tensions, but also surveys such as the PMIs. Finally, a look at BOJ JGB purchases, the RBNZ meeting, the energy crisis, COVID-19 trends and the events in Asia ahead.
In this episode of our Fireside Chats series we’ll be talking with Ting Lu, our Chief China Economist, for his thoughts around the costs and benefits of China’s Zero COVID-19 policy. We discuss the impact of the current policy, potential for changes ahead, and what's next for China's macoenvironment.
In this episode of our Fireside Chats series we’ll be talking with economists we’ll be talking with George Buckley and Andrew Ticehurst from the Economics team but also Andy Chaytor from desk strategy on their thoughts for the ECB, the BOE, the RBA and rates markets.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, after the stronger than expected CPI we’re watching Fed speakers, the FOMC minutes and US retail sales. In Europe a big focus will be on UK inflation, growth surveys in Europe and tensions with Russia. Finally, a look at BOJ JGB purchases, Australian RBA minutes, the energy crisis, COVID-19 trends and the events in Asia ahead.
In this episode of ESG360, we discuss green taxonomies with Andrew Bowley, Wholesale Governance Officer at Nomura. In a controversial move, the EU has allowed natural gas and nuclear into its green taxonomy. The decision has caused uproar among climate activists who accuse policy-makers of greenwashing and undermining efforts to accelerate the green transition. We also discuss social bonds with Nomura’s Mark Yeomans, a specialist in ESG debt. Asia’s social bond market has been rising rapidly amid a flurry of recent deals including a health bond for the Asian Development Bank fueling optimism in the region after the setback of the Covid-19 pandemic.
In this episode of our Fireside Chats series we’ll be talking with economists we’ll be talking with Ting Lu and George Buckley from the Economics team for their thoughts on the potential for lower GDP growth after COVID and the risk of bankruptcies in the team’s COVID-19 endgame report.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, we have key January data with US NFP, ISM and Fed speak to watch. In Europe we have the ECB and BOE meetings along with Euro flash inflation for January and OPEC talks. Finally, a quick wrap-up on the state of the energy crisis, Russia/NATO talks, COVID-19 trends and events in Asia.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, we have the key FOMC meeting, PCE inflation and Labour costs. Plus the Bank of Canada meeting too. In Europe we are focused on Italian politics, the future of Boris Johnson and growth surveys . Finally, a quick wrap-up on the state of the energy crisis, Russia/NATO talks, COVID-19 trends and events in Asia.
In this first episode of ESG360, we’ll be discussing what’s in store for 2022. Jeff McDermott, Global Co-head of Investment Banking will give his best predictions for green M&A while Gordon Youl, Head of ESG Solutions for AeJ, explains why this year is key for China. Andrew Bowley, Wholesale Governance Officer, looks into his crystal ball on regulation, and Jarek Olszowka, Head of Sustainable Finance, discusses the record-breaking growth of ESG bonds.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, we have a relatively quiet week with the Fed’s blackout period so Omicron trends may dominate. In Europe we have a lot of key UK data as well as European growth surveys. We also discuss what might happen to Boris Johnson with the release of a politically important report. Finally, a quick wrap-up on the state of the energy crisis, Russia/NATO talks, COVID-19 trends and events in Asia.
In this episode of our Fireside Chats series we’ll be talking with Yujiro Goto from the Japan Macro and FX strategy team on their thoughts for Japanese markets in the year ahead. We'll discuss the outlook for Japan equities, rates and FX, what happens if we see the grey swan of higher inflation in Japan, and other key flows and external being tracked.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, we will see how Chair Powell and Governor Brainard sum up the outlook for rates in Senate hearings in a week with CPI due. In Europe we have a bunch of data and politics to watch out for, the Russia/NATO meeting will drive headlines. Finally, a quick wrap-up on the latest Covid-19 trends, events in Asia, and data releases to watch.
In this episode of our Fireside Chats series we’ll be talking with Andrew Ticehurst from Economics and Jim McCafferty our Joint Head of APAC Equity Research on the COVID endgame and why despite policy makers good intentions it could lead to even greater inequality.
In this special episode of our Fireside Chats series we’ll be talking with Sonal Varma, Ting Lu and Euben Paracuelles on their 2022 economic outlook for the Asia ex Japan Economies titled – “As the tide turns”. We'll discuss their views on the growth outlook for AEJ economies in 2022, the impact of Fed raising rates from March 2022 on AEJ central banks and India in particular. We'll also discuss any out-of-consensus or high conviction views for the region.
In this special episode of our Fireside Chats series we’ll be talking with Rob Subbaraman, George Buckley and Robert Dent from the Global Macroeconomics team on their economic outlook for the Global, European and US economies in 2022. We'll discuss their views on growth next year? Also, as inflation reaches new highs, is the only way up or down? Lastly, what potential crises or surprises may we see next year?
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, we find out if the Fed will accelerate their tapering of QE. In Europe the key question is whether the BOE will hike and if the ECB will deliver a hawkish tone. Also, we’re watching a European energy crisis unfold, Geopolitical tensions, events in Asia, and the key data releases to watch.
In this episode of our Fireside Chats series we’ll be talking with Craig Chan our Head of Global FX strategy, Albert Leung from Rates Strategy and James Burton from EEMEA FX Strategy on their top FX and rates views in 2022.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, we see November’s CPI and we’ll be watching out for the BOC and RBA meetings. In Europe we’ll be watching for December’s Sentix, German’s ZEWs and UK inflation expectations. Lastly, we'll discuss potential for early lab results on the Omicron variant, events in Asia, and the key data releases to watch.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, we see how strong the US labour market is with NFP, Chair Powell’s testimony and Congress return from recess. In Europe, we’ll be watching inflation and the risk of lockdowns but we also have an energy crisis getting worse along with political implications. And finally, a quick wrap-up on the latest Covid-19 trends, events in Asia, and data releases to watch.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, we will see who President Biden picks as Fed Chair, the FOMC minutes and how high US PCE inflation will go. In Europe it’s all about the PMIs and whether the growth slowdown continues as well as German coalition talks. In New Zealand we have the RBNZ meeting, we’re tracking tensions with Russia as well as COVID-19 trends and events in Asia
In this episode of our Fireside Chats series we’ll be talking with Euben Paracuelles and Craig Chan on their latest piece highlighting via a proprietary TRIPTracker tool and why tourism in ASEAN is likely to disappoint ahead.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, we’re asking what the higher inflation print will mean for fed speakers, whether Biden will choose Powell or Brainard as Fed chair, if strength in retail sales and industrial production hold up and whether the House will pass the build back better act next week. In Europe we’ll be watching out for UK CPI, the odds of an article 16 trigger and Russian gas supplies Finally, a quick wrap-up on the latest Covid-19 trends, events in Asia, and data releases to watch.
In this episode of our Fireside Chats series we’ll be talking with economists Rob Subbaraman, Sonal Varma and Aichi Amemiya on their latest big picture piece titled – the COVID-19 endgame. We'll be asking them, what is the endgame for COVID-19’s impact on markets? Will we see permanently higher levels of unemployment, and will higher inflation be less transitory than expected?
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, we will see how Fed members characterise the recent decision to taper and have inflation data with an acceleration due thanks to used car prices. In Europe there is a big focus on what BOE members will say next week but also whether Russia will eventually increase Gas supplies or not. Finally, a quick wrap-up on the latest Covid-19 trends, events in Asia, and data releases to watch.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US our focus will be on the Fed’s November FOMC meeting, and the NonFarm Payrolls. Next we are keeping an eye on the BoE, Norges Bank, and OPEC meetings, and the Japanese elections. Finally, a quick wrap-up on the latest Covid-19 trends, what to watch of ahead of COP26, the key events in Asia, and the other data releases to watch.
In this episode of our Fireside Chats series we’ll be talking with Jeong Woo Park from the Asia Economics team, Craig Chan from FX Strategy, and Albert Leung from Rates Strategyon their thoughts on Korea – namely the rising risks of Japanification. We’ll be asking them, what is Japanification and, what are the risks facing Korea? Is the Bank of Korea likely to raise rates now, but then ease them later on and, how rates markets will react? And finally, what this will mean for the Korean Won and FX markets.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US, the Fed is in the blackout period for the November FOMC meeting, but there are a few important developments worth flagging. In Europe there is the UK’s budget announcement, and ECB meetings, and further afield the Bank of Canada and Bank of Japan meetings to watch too. Finally, a quick wrap-up on the latest Covid-19 trends, events in Asia, and data releases to watch.
In this episode of our Fireside Chats series we’ll be talking with Aichi Amemiya and Robert Dent from our US Economics team on their thoughts on the US outlook. We’ll be asking them both, are we still under estimating the chance of higher inflation, could the Fed could surprise us with a hike next year, and what we should watch out for with the politics ahead.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. In the US we are watching; the proposed debt limit, infrastructure talks, Powell’s possible reappointment, and US-China relations. Then we look at the recent energy crisis in Europe, German ZEW’s and HICP, Euro industrial production for August, and BoE/ECB speakers. And finally, a quick wrap-up on the latest Covid-19 trends, events in Asia, and data releases to watch.
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. First, in the US we're looking out for a number of key indicators to summarise September, including NFP. Next in Europe, we discuss key learnings from the ECB's Sintra conference, then look further afield to other pending Central Bank meetings from the RBA and RBNZ. And finally, a quick wrap-up on the latest Covid-19 trends, events in Asia, and data releases to watch.
In this episode of our Fireside Chats series, we’ll be talking with our chief UK and Euro Area Economist George Buckley and our European Economist Chiara Zangarelli on their thoughts on this latest surge in energy prices and what it means for inflation. We’ll be asking them, how does the rise in energy trickle into European inflation, how much of a factor will energy play in central bank decisions, and finally what does it mean for markets?
In this episode of our Week Ahead series, we’ll be looking at the main themes that will drive global markets over the coming week. First, in the US we're looking out for several key indicators summarising September, including NFP. Next in Europe, we discuss key learnings from the recent ECB Sintra conference and then look further afield to the pending RBA and RBNZ meetings. And finally, a quick wrap-up on the latest Covid-19 trends, events in Asia, and data releases to watch.
In this episode of our Week Ahead series we’ll be looking at the main themes that will drive Global markets next week. The big focus next week in the US will be the September FOMC meeting where we see a number of hawkish risks across the statement, dots and press conference. Next we look to Europe with the moves in energy markets, and the BOE’s inflation outlook. Then we take a look at the global state of Covid-19, and finally a focus on the data and the key events in Asia.
In this episode of our Fireside Chats series,we’ll be talking with Sonal Varma the chief economist for the APAC region and David Wong the Co-head of APAC technology researchon their thoughts on the tech cycle and what this means for Asia. We’ll be asking them both, will the current performance of technology stocks continue, what will be the next phase of technology growth, and what are the Economic and Policy implications to keep in mind?
In this episode of our Fireside Chats serieswe’ll be talking with our Macro Strategist in Japan, Naka Matsuzawa, for his thoughts on Japan’s markets leading into the elections. We’ll be asking him, what is he watching out for in the upcoming Japanese elections, how will different markets price this in, and what else he’ll be watching out for in the Japan Macro space.
In this episode our Week Ahead series we’ll be looking at the main themes that will drive Global markets next week. In the US our focus will be on the August CPI and retail sales, as well as debt limit talks. In the UK it’s a big week for data with the labor market report, inflation figures, producer price index all due, and in the Euro area there’s discussion on ECB inflation forecast changes. Finally, a focus on the data and the key events in Asia, and an update on Covid-19 and vaccines.
In this episode of the Week Ahead series we’ll be looking at the main themes that will drive Global markets. First in the US we are watching out for the Fed’s final thoughts before the September meeting, and the release of the premier part of the Democrats infrastructure bill. Then we discuss the upcoming Central Bank meetings from the ECB, RBA, and BOC. And finally, Covid-19 vaccine passports, events in Asia and the key data ahead to keep on your radar.
In this episode of the Week Ahead series we’ll be looking at the main themes that will drive Global markets. In the US, we're watching out for the deceleration in the pace of NFP growth, the fallout from the Fed’s Jackson Hole symposium, and the Democrats' legislative text. In Europe, we have flash inflation and CPI, key ECB speakers, and discuss an outlook for ECB’s PEPP program. Finally, a summary of the key events in Asia, the Covid-19 vaccine rollout slowdown, and other key data to keep on your radar.
In this episode of our Fireside Chats series we’ll be talking with Ting Lu, our Chief China Economist, on his thoughts on China’s property market curbs – or in his words China’s Volcker moment – and what this means for the outlook. We’ll be asking Ting, how important is the property sector in China, what China’s Volcker moment may mean for the Economy ahead, and why this time is different?
In this episode of our Fireside Chats series we’ll be talking with Andrew Ticehurst our Australia economist and AUD rates strategist for his thoughts on the state of COVID-19 and what it means for markets in the Antipodes region. First, we will discuss how bad the situation is on the ground and how we got here. Then, we look at how the impact on the economy compares to previous lockdowns. And finally, what that means for AUD and NZD markets ahead.
In this episode of our Week Ahead series we’ll be looking at the main themes that will drive Global markets next week. We’ll be discussing the Fed’s upcoming Jackson Hole Economic Policy Symposium, budget resolutions, and the fallout from Afghanistan. Next in Europe the focus will be on August flash PMIs and the ECB accounts. And finally, a focus on the key events in Asia, a global update on Covid-19 and vaccine boosters, and the key data releases to watch.
In this episode of our Fireside Chats series we’ll be talking with Euben Paracuelles our Economist for the ASEAN region and Craig Chan our Head of Global FX strategy for their thoughts on the state of the ASEAN economies and potential FX opportunities. We’ll be asking them what the new Covid-19 Delta variant means for economic recovery, which countries in the ASEAN region stand out, and which currencies are likely to outperform.
In this episode of our Week Ahead series we’ll be looking at the main themes that will drive Global markets next week. In the US we’ll be looking out for the FOMC minutes, and Fed speakers such as Jerome Powell. Next we have the release of the UK’s CPI numbers, German election polling, and the potential for a RBNZ rate hike. And finally we look at the global state of Covid-19, other key events in Asia, and the data releases ahead to keep on your radar.
In this episode of our Fireside Chats series we’ll be talking with Ting Lu our Chief China economist and Craig Chan our Head of Global FX Strategy on their thoughts on China’s outlook and what that means for trading CNH. I’ll be asking them; if China is in the midst of a slowdown, how far could it go on for? What that means for policy action down the line? And how will FX markets react to that?
In this episode of our Fireside Chats series we’ll be talking with Andy Chaytor from our Desk Strategy Team and George Buckley our Chief UK and Euro Area Economist on their thoughts on the UK's outlook, with the big easing of restrictions across the economy this week. We’ll be discussing how, despite UK cases rising, we can remain optimistic. The likely impact of re-opening on growth and inflation outlooks, and what it means for the BoE and markets.
In this episode of our Week Ahead series we’ll be looking at the main themes that will drive Global markets next week. In the US we will be watching the flash PMI’s and the developments in infrastructure negotiations. Next we are watching the ECB and BI meetings, and the RBA minutes. Then discuss the commencement of the Tokyo Olympics. And finally we look at the global state of Covid-19, other key events in Asia, and the data releases ahead to keep on your radar.
In this episode of our Week Ahead series we’ll be looking at the main themes that will drive Global markets next week. In the US we’ll be watching out for US Fedspeak, Core CPI, inflation expectations, and developments in Congress. In Europe we have developments in the ECB strategy review, and looking further afield to the BOJ and BOC policy meetings. And finally we look at the global state of Covid-19, key events in Asia, and the data releases ahead to keep on your radar.
In this episode of our Fireside Chats series, we’ll be talking with Robert Subbaraman our head of Global Macro Research and Rebecca Wang from the Asia Economics team on their new early warning system for financial crises coined Cassandra. This framework is currently highlighting six economies – including the US, Japan and Germany – that could be subject to a financial crisis in the next 12 quarters, listen in to see how it works and its other predictions.
In this episode of our Week Ahead series, in the US, our focus will be on the June FOMC minutes and the ISM services. In Europe we're watching the ECB strategy review and the UK's reopening decision ahead of German ZEW's, then further afield to the RBA meeting. Finally we look at the global state of markets, Covid-19, and the key events and data releases to keep on your radar.
In this episode of our Fireside Chats series we’ll be talking with Rob Dent from the US Economics Team and Randall Ross the Head of US Public Policy and Government Affairs at Nomura for their thoughts on the ongoing US infrastructure debate in Congress. We’ll be asking them what is the timeline for infrastructure spending, what figures we can expect to see, and what will the political scenario mean for growth, inflation and the Fed?
In this episode of our Week Ahead series, in the US, our focus will be on the NFP, Fed speakers, and the infrastructure talks. Next, we look to Europe where we have the flash PMI numbers, and some important Central Bankers speaking. Finally we look at the global state of markets, and Covid-19. And the key events and data releases to keep on your radar.
In this episode of our Week Ahead series, looking to the US, our focus will be on the multiple Fed speakers, there is also the core PCE inflation, and the PMIs to watch. Next we look to Europe with the ECB speakers and strategy review, then the BOE meeting and the politics to follow. And finally, we take a look at the global state of Covid-19, the other key events in Asia, and the data releases to keep on your radar.
In this episode of our Fireside Chats series, we’ll be talking with Yujiro Goto our Head of Japan FX Strategy on his thoughts for JPY. We’ll be discussing his recent research piece which outlines 12 reasons for USD/JPY to improve. Looking at what Covid-19 meant for JPY’s sensitivity to interest rate differentials, how JPY typically trades in the economic cycle and if this time is different, and finally what Global factors play a large part in the JPY call here?
In this episode of our Week Ahead series, first we look to the US with the June FOMC meeting, will they discuss tapering and raise their 'dot plot' for fed hikes to come? Next, we have the G7 meeting, the ECB strategy review, UK CPI, the BOJ meeting and RBA minutes. And finally, we take a look at the global state of Covid-19, the other key events in Asia, and the data releases to keep on your radar.
In this episode of our Fireside Chats series, we’ll be talking with Aichi Amemiya from our US Economics team & George Buckley our Chief Euro Area Economist, on their thoughts for US and Euro area inflation. We’ll be asking them how high they expect inflation rise, when will it get there, & for how long? Next we discuss what it will mean if predictions on the transitory inflation view are wrong and higher rates are here to stay? And finally how will central banks likely respond to this inflation volatility?
In this episode of our Week Ahead series, first we look to the US with the release of CPI data, and what it will mean for the Fed and BOC. Next, we look to Europe with the upcoming ECB meeting, and whether or not they will taper quantitative easing as a result. And finally, we take a look at the global state of Covid-19, the key events in Asia, and the other data releases to keep on your radar.
In this episode of our Week Ahead series, we are looking to the US at whether Fed speakers turn hawkish, developments on US inflation metrics, and fiscal negotiations. Next, we turn to Europe and look focus on German IFO, the key ECB speakers, and the EU mobility data release. And finally, an update on the global state of Covid-19, key events in Asia, and the data to keep on your radar.
In this episode of our Fireside Chats series, we'll be talking with Yunosuke Ikeda our head of Japan Macro strategy, and Yujiro Goto our head of Japan FX strategy about the impact of this recent wave of Covid-19 infections. We'll discuss what effect the latest Covid-19 restrictions will have on growth and corporate profits, how that feeds through to fiscal and monetary policy, and how they expect markets to react?
In this episode of our Week Ahead series, we are looking to the US for upcoming comments from FOMC participants around recent inflation data and bipartisan stimulus talks. Next, in Europe, our discussion will turn focus to UK CPI data and expectations for the ECB 's strategy review. And finally, an update on the global state of Covid-19, key events in Asia, and the data to keep on your radar.
In this episode of our Fireside Chats series we’ll be talking with Sonal Varma, our Chief Asia ex-Japan Economist, and Jeong Woo Park, from the Asia Economics team, on their thoughts regarding the Global semi-conductor chip shortage and impact to markets.
In this episode of our Week Ahead series, looking to the US our focus is on the upcoming inflation data and reactions from FOMC members, and bipartisan stimulus talks. Next in Europe our discussion will be on a few key surveys, as well as what could come next after the BOE tapered their asset purchases this week, and the Scottish election results. And finally, an update on the global state of Covid-19, key events in Asia, and the data to keep on your radar.
In this episode of our Fireside Chats series we’ll be talking with Ting Lu, our Chief China Economist, and Albert Leung our Asia rates strategist, on their thoughts on the broader view of China and its outlook. We then look at why we expect the economic disparity between China’s north and south to widen further and what this means for China’s credit market if and when default risks rise down the line.
In this episode of our Week Ahead series, in the US we are watching for the release of the NFP figures, and we're monitoring any further developments in the American families plan. Next we turn to Europe and the BOE, Norges bank, and RBA meetings, along with Scottish elections. And finally, an update on the global state of Covid-19, Central Bank meetings in Asia, and the key data releases to watch.
In this episode of our week ahead series, first we focus on April’s FOMC meeting, and Biden’s joint session in congress. Next we look to the BOJ, and OPEC meetings. Then turning to Europe’s inflation data releases and EU budget talks. And finally, Covid-19 risks with a focus on India, other events in Asia, and the key data releases to keep on your radar.
In this episode of our Fireside Chats series we’ll be talking with Sonal Varma our Chief India and Asia ex-Japan Economist, and Aurodeep Nandi our India Economist on their thoughts on India’s outlook with the recent surge of new Covid-19 cases, and subsequent restrictions. We then discuss what we expect for growth, inflation and policy this year. And finally, where are the potential risks for investors investing in India ahead.
In this episode of our Week Ahead series, first we look to the US with the release of the US growth survey and stimulus delivery announcements. Next we turn to Europe and the upcoming ECB meeting, inflation outlook, lending conditions, and fiscal policy. Finally, the key events in Asia, the global state of Covid-19, and data releases to keep on your radar.
In this episode of our Week Ahead series, first we look to the US, where our focus is on a big round of data with retail sales capturing the disbursement of stimulus checks, industrial production, and inflation. Next we turn to Europe and the Euro group and ECB speakers that will present ahead of the blackout period. And finally, the key events in Asia, the global state of Covid-19, and the other data releases to keep on your radar.
In this episode Fireside Chats series we’ll be talking with Lewis Alexander and Robert Dent, from our US Economics team, on their thoughts on the US fiscal outlook. As well as how that feeds into their expectations for growth, inflation and, the Fed. We’ll discuss how much fiscal support is still to come from the US government? What will it will mean for inflation, growth and politics? Finally looking at how should this all feed into the Fed and rates pricing.
In this episode of our Week Ahead series, our focus in the US is on Fed chair Jerome Powell’s speech, Fed minutes, the ISM Services index, and the JOLTS report. Next we turn to Europe with the ECB minutes, Sentix surveys data, and tracking ECB PEPP purchases. And finally, the latest trends in Covid-19, key events in Asia, and the data ahead to watch for.
In this episode of our Week Ahead series, our focus in the US is on Biden’s build back better initiative, US Non-farm payrolls, and the ISM manufacturing index. Next we look to Europe and the inflation story developing, further lockdowns, and the swings in German polling data. Finally, a wrap up in the Covid-19 data trends, events in Asia, and the key data to watch.
In this episode of our Fireside Chats series we’ll be talking with Euben Paracuelles our Chief ASEAN Economist and Wee Choon Teo our Asia FX strategist, on their thoughts for Indonesia and brief look over the rest of the ASEAN region. We’ll be asking them on why interest in Indonesia and the macro community is picking up, how this compares to the rest of the ASEAN economies, and why Indonesia is perhaps the most sensitive to higher US yields and how investors should position on it.
In this episode of our Week Ahead series, our focus in the US is on Fed Chair Powell, and US Treasury secretary Yellen, speaking together before the senate banking panel, a tax policy debate, and the flash PMIs for March. Next we look to Europe with the EU summit, our thoughts on the ECB, and the debate over vaccine supplies. And finally, the Covid-19 trends, key events in Asia, and the data to watch this week.
In this episode of our Fireside Chats series we’ll be talking with Rob Subbaraman our Head of Global Macro Research and Rebecca Wang from the Asia Economics team, on their thoughts around the risk of future Emerging Markets exchange rate crises using their Damocles Framework. We’ll be discussing how does their early warning indicator of exchange rate crisis works, what currencies and countries in particular stand out, and how to potentially trade it.
In this episode of our Week Ahead Series, we first focus on the US, discussing the FOMC meeting, US-China trade talks, and signing the US stimulus plan into law. Next we look to Europe and the upcoming BOE meeting, ECB purchases, and the EU finance minister meeting. Finally, the Covid-19 vaccination supply problems, key events in Asia, and wrap up of the data ahead.
In this episode of our Fireside Chats series we’ll be talking with Craig Chan our Head of Global FX Strategy, and Albert Leung our Asia Rates strategist, on their thoughts on RMB and China this year and beyond. We’ll be discussing what the dual circulation strategy means for RMB, the plans for internationalization of the RMB and how does this all fit into our outlook for flows in FX and rates markets.
On this episode of our Week Ahead Series we discuss the final stages of the US fiscal stimulus bill and US inflation. Next, we discuss the ECB meeting and questions around the pace of PEPP. Lastly, we touch on COVID-19 vaccination supply expectations, events in Asia and the key data ahead.
In this episode of our Fireside Chats Series, we’ll be talking with Takashi Miwa and George Buckley our chief Japan and Euro area economists, on his their thoughts for the upcoming strategy reviews of the BOJ and ECB this year.
On this episode of our week ahead series, in the US we are watching out for continued progress on the latest round of Covid-19 related fiscal stimulus and the Fed speakers. Next we focus on Europe and the OPEC ministerial meeting, the UK budget, and other key European events. Finally, we look at the Covid-19 vaccination supply expectations, events in Asia and the key data ahead.
On this episode of our Week Ahead series, in the US we are watching out for Fed Chair Jerome Powell’s testimony, oil market supply issues, and how the House will vote on the American rescue plan. Next we look to Europe, the G20 finance minister meeting, Italian reform hopes, and the EU council and ECB speakers. And finally, an update on the Covid-19 vaccination supply expectations, events in Asia and the key data ahead.
In this episode of our Fireside Chats Series we’ll be talking with Andrew Ticehurst, our Australia Economist and Rates Strategist, on his thoughts for trading Australia this year. We’ll be asking Andrew what’s the latest on Australia and New Zealand’s growth outlook for 2021 and beyond. How does this feed through to Central Bank pricing, rates and FX markets. And finally, why political risks might be a focus for markets later this year.
On this Episode of our Week Ahead series, we look to the US and next week’s stimulus talks, and the FOMC minutes. Next turn to Europe and the ECB policy accounts, Italian elections, and the EU recovery fund formalities. Finally, we focus on Covid-19 updates, the vaccination supply expectations, events in Asia, and the key data to keep on your radar.
On this episode of our Week Ahead series, we look to the US and next week’s Powell speech, the Trump Impeachment trial and, stimulus talks. Next we focus on European politics, the ECB speakers after spiking inflation, and China's concerns over a slowdown. Finally, a quick wrap up on the Covid-19 vaccination supply problems and the key data ahead.
On this episode of our Week Ahead series, in the US our focus is on the Democrats stimulus and the Fed speakers. Next we look to Europe and the ECB rate cut fears, and the BoE & RBA meeting taking place. Finally, the Covid-19 Vaccine Phase 3 trial results, the vaccination supply problems, and the key data ahead.
In this episode of our Fireside Chats series we’ll be talking with George Buckley our Chief UK & Euro Area economist, on his thoughts for the UK’s recovery this year. We discuss where the UK is with Covid-19 vaccine rollout, and the impact of Brexit so far this year. Then we examine what this means for growth and the inflation. Finally, we cover what could be in store in the March budget and whether the BoE cut rates soon.
On this episode of our Week Ahead series, our Focus is on next week’s FOMC meeting and the potential for a taper talk discussion in coming months. Next we look to Europe and the ECB speakers and the unfolding of Italian politics. Finally a quick wrap up on the Covid-19 vaccine, phase 3 trial results, vaccination supply problems, and the key data ahead.
In this episode of our Fireside Chats series we’re talking with Rob Subbaraman, & Sonal Varma, from our Asia Economics team, on why Asia should be the outperforming region in 2021. We discuss why Asian economies are set to stand out given the potential for vaccine deployment and re-opening of the Global economy. What it means for inflation, policy rates and potential areas traders will be focused on. Finally, what are the key risks to their outlook, and are there other background structural trends to watch.
On this episode of our Week Ahead series, our focus is on Joe Biden’s inauguration, Trump's impeachment trial, and the plans for COVID-19 stimulus. Next we turn to Europe and the ECB meeting, and the potential for Italian elections. Finally a quick wrap up on the race for Covid-19 vaccinations and the key data for the week too.
In this episode of our Fireside Chats series we are talking with Lewis Alexander and Robert Dent, from our US Economics team, on what to expect from the US in 2021. We discuss the current state of discourse in US politics, and what it will mean for policy making. Next we look at the fiscal and non-legislative policy we should expect in 2021, and finally we finish up on the risks to the Fed’s policy making this year, and if quantitative easing will come to an end?
Happy New Year, and welcome back to our Week Ahead series on Nomura Podcasts, in this episode our focus on the US remains on politics and what’s next for the Democrats after winning the Georgia senate races? Next we turn to Europe, and the ECB monetary policy accounts. Finally a quick wrap up on the Covid-19 vaccination race and Global key data and events to keep on your radar for next week too.
In the penultimate episode of our 2021 Outlook series, we talk with, Rob Subbaraman - Head of Global Macro research, Lewis Alexander - Chief US Economist, and George Buckley - Chief Euro and UK Economist on their thoughts for 2021.We look at the potential path for Global growth, and what key policies we expect. Next, with the re-opening of economies and vaccine rollouts, how long will it take for ‘normality’ to resume? Finally, we look at key risks and themes worldwide you should to watch out for.
On this episode of our Week Ahead series, we discuss the US and how it’s likely to be the last opportunity to get phase four of its fiscal stimulus plan off the ground, and it’s the FED FOMC meeting happening too. Next we move to Europe, with the ECB and EU council summit out of the way the focus will be on Brexit, with both sides agreeing to further negotiations. Finally, we wrap up with the state of Covid-19, and the key data and events to watch out for over next week.
On the second episode of our 2021 Outlook series, we're talking with our Asia Economics team, Sonal Varma, Takashi Miwa and Ting Lu, on their thoughts for the Asia region in 2021. With a new prime minister, the Tokyo Olympics, what does 2021 hold for Japan? Next to China, will they experience economic growth similar to 2020, and will their Dual Circulation Strategy get off the ground? Finally, we look at the outlook for India and the rest of Asia, along with the key leaders and laggards to watch out for?
On the first episode of our 2021 Outlook series, we're talking with Craig Chan, our Global Head of FX Strategy, and Albert Leung our Asia Rates Strategist, on their thoughts on FX markets in 2021. First we discuss what we expect to see for the USD and CNH in the short and medium term of 2021. Next, who do we expect to be the key outperformers in the new year, and what’s the Outlook for the G10 economies? And finally what are the risks for Asia rates, and how should investors be positioned to respond?
This is the first Fireside Chats episode in a series on ESG, we're joined by Sook Leen Seah, our Head of Capital Advisory, and Jarek Olszowka, our Head of Sustainable Finance, to get their thoughts on the ESG space. We discuss the current and future role of ESG in bank capital issuance, and what are the trends to watch? Next after a record year of ESG bond issuance, how can a bond be used as both a capital and green financing tool? Finally, what are the key opportunities and challenges for ESG in 2021?
On this episode of our Week Ahead series, our focus on the US will be squarely on Washington, and whether Congress will pass a spending Bill. Next we talk about the ECB and whether they will cut rates, and if the EU council agree to the budget on Wednesday. Finally we discuss if its deal or no-deal for Brexit, the state of Covid-19, and the Global data and events to keep on your radar.
On this episode of our Week Ahead series, our focus is on the US’s cabinet announcements, spending bills, and The Fed commentary leading up to the blackout period. Next we move to EU budget frustrations, and what to make of the recent ECB comments. Finally we look at the key developments in Brexit, Covid-19 vaccines, and the key data and events to keep on your radar.
In this episode of our Fireside Chats series we’re talking with Jing Wang from the China Economics team on what to make of China's dual circulation strategy. We discuss the key components of this new strategy, and how it compares to previous Belt and Road initiative? What’s the economic impact of the strategy, and how does this feeds into China’s outlook? And finally how is this likely to effect the rest of the world, and what will it mean for Global markets?
On this episode of our Week Ahead series, our focus this week remains on the potential impact of November's US election, and the FOMC minutes released on Wednesday. Next we look to Europe, where the ECB will publish its monetary policy accounts, and negotiations for the EU budget and recovery fund amp up. Finally we look at what to expect in the final weeks of Brexit talks, the global state of Covid-19, and the key data and events to keep on your radar
In this episode of our Fireside Chats series we’re talking with Charnon Boonuch from the Asia Economics team on what to make of the recent protests in Thailand and how it could feed through to the economic outlook. We discuss the origins of the recent student-led protests, and why are they expected to persist? How much of an impact will these protests have on Thailand’s economic, and policy outlook? And finally, what does this all mean for Thai FX markets, and Rates?
On this episode of our week ahead series, our focus remains on the US, with fiscal negotiations, election results, vaccine announcements, and what they could all mean for policy. Next we move to developments in EU budgetary talks, and Thursday’s EU leader conference call. Finally we highlight key Brexit developments, the Global state of Covid-19, and the key data and events to keep on your radar.
In this episode of our Fireside Chats series we’re talking with Stuart Oakley from the FX trading desk, our Global head of FX Flow trading, on what to make of the recent moves in both the USD and Chinese Renmimbi. We discuss what to make of the recent USD weakness, and is this set to become a multi-year trend? Is the Chinese Yuan able to sustain its recent outperformance, and if so, for how long? And finally what developments can we anticipate in the longer term outlook for FX markets?
In this episode of our Fireside Chats series we’ll be talking with Lewis Alexander and Rob Dent from our US Economics team on what to make of the US election results. We discuss how to interpret the results, and look at why we still have more elections to come. What to expect over the next few months as we move through the transition phase. And finally, what could Joe Biden's first year in the White House look like?
On this episode of our week ahead series, our focus is still on the US as we look at what the result of the US election will mean for markets. Next we look at the ECB’s Forum on Central banking typically held at Sintra. Finally we highlight changes in Brexit negotiations, the state of Covid-19, and the key data and events to keep on your radar.
On this episode of our week ahead series:
Our focus next week remains on the US and the Presidential election, what to watch out for on election night, and the impact on the FOMC.
Next we look into the increasing new number of lockdowns in Europe, and developments in the EU recovery fund.
Finally the BOE and the potential for a Brexit breakthrough, and the key data and events to watch out for.