JPY Weekly Global Markets Research Foreign Exchange - Global The highest policy rate in three decades, but JPY weakness continues Key events next week: MOF's intervention risk, Ueda's speech, Tokyo CPI. The highest policy rate since 1995 At its December Monetary Policy Meeting, the BOJ hiked its policy rate by 25bp to 0.75%. As a result, the BOJ's policy rate is now at the highest level since August 1995 ( Fig. 1 ). While this hike was widely expected by the market (including Nomura), JGBs were sold across ...

Core Viewpoint - A more critical perspective on AI winners is deemed sensible by Nomura analysts, suggesting that the current enthusiasm may overlook potential risks and challenges in the sector [1] Group 1: Market Analysis - Analysts highlight that the AI sector has seen significant investment and hype, but caution that not all companies will sustain their growth or profitability [1] - The report indicates that while some firms have reported impressive earnings, the sustainability of these results is questionable in the long term [1] Group 2: Company Performance - Nomura points out that certain AI companies have experienced substantial stock price increases, but this may not accurately reflect their underlying business fundamentals [1] - The analysis suggests that investors should be wary of overvaluation in the AI space, as many companies may not deliver on their growth promises [1]

The Bank of Korea is done with its interest rate-cutting cycle and is likely to keep interest rates unchanged in 2026, with risks now tilting toward a hike as the next move as growth strengthens, according to Nomura https://t.co/fojHug8B7Y ...

Global Macro Outlook 2026 Global Markets Research 11 December 2025 Going for growth We expect strong growth to continue in 2026, bolstered by the AI-led investment boom and more supportive monetary and fiscal policies. Research Analysts Global Economics Rob Subbaraman - NSL rob.subbaraman@nomura.com David Seif - NSI david.seif@nomura.com Aichi Amemiya - NSI aichi.amemiya@nomura.com George Buckley - NIplc george.buckley@nomura.com Ting Lu - NIHK ting.lu@nomura.com Kyohei Morita - NSC kyohei.morita@nomura.com ...

picked up to 0.71% YoY in November from 0.25% in October, driven by persistent food price deflation and weak core inflation. Most economists said headline inflation appears to have bottomed out in October on account of lower food prices and one-time GST cut adjustment and expect it to inch up but will be below RBI’s 4% medium-term target. RBI has cut the repo rate by 125 bps since the easing cycle began in February stating that it is to support growth as inflation remained benign.WHY A PAUSE NOW? , on the ...

Asia Insights Economics - Asia ex-Japan China: The Politburo sounded more concerned about the economy China's Ruling Party Politburo convened today and issued a memo after the meeting. The memo sets the tone for the forthcoming annual Central Economic Work Conference (CEWC), which will outline Beijing's macroeconomic policy agenda for 2026. The memo reintroduced "counter-cyclical" policy adjustment, which was absent from the most recent Politburo meeting in July 2025 , signaling Beijing's renewed concerns a ...

Core Viewpoint - The Federal Reserve is anticipated to implement a third interest rate cut this year, with indications that policymakers may adopt a cautious stance regarding future cuts [1]. Group 1: Market Expectations - Traders have assigned nearly 90% probability for a quarter-point reduction in interest rates, which would adjust the target rate to a range of 3.5% to 3.75% [2]. - Betting platforms Polymarket and Kalshi report even higher odds of 97% for the rate cut [2]. Group 2: Influential Statements - Optimism for a rate cut increased after New York Fed President John Williams suggested potential for a cut in the "near term," contrasting with Fed Chair Jerome Powell's previous comments that further reductions were "not a foregone conclusion" [3]. - Other Fed officials, including San Francisco Fed President Mary Daly, have expressed support for a rate cut, citing concerns about a weakening labor market [3]. Group 3: Institutional Revisions - Major financial institutions such as JPMorgan, Morgan Stanley, Nomura, and Standard Chartered have revised their forecasts, now expecting a rate cut after initially predicting rates would remain unchanged [4]. - Standard Chartered noted that recent economic data post-government shutdown has been "unrevealing" [4]. Group 4: Potential Dissent - Kansas City Fed President Jeff Schmid and St. Louis Fed President Alberto Musalem are likely to dissent against the rate cut, advocating for maintaining current rates [4]. - Fed Governor Stephen Miran is expected to dissent for a third consecutive time, favoring a half-point cut [4]. - Uncertainty remains regarding dissent from other Fed officials, as Boston Fed President Susan Collins, Chicago Fed President Austan Goolsbee, and Fed Governor Michael Barr have raised concerns about rising inflation [5].

ABU DHABI/SINGAPORE, Dec 10 - Asian investors are piling into Gulf bonds and loans this year, reflecting both deepening trade and finance ties with the fast-growing region and an uncertain outlook elsewhere, including the world's top two economies, the United States and China. Bond issuance in ​the Middle East and North Africa region jumped 20% year-on-year to $126 billion in the first nine months of this year, according to LSEG data, ‌with full-year records in sight both for the region and broader emergi ...

Nomura has signed a contract with an organization led by Japanese baseball’s home run king Sadaharu Oh to support professional athletes after they retire https://t.co/NxHfavBpEA ...

Nomura plans to relocate dozens of staff from its Tokyo headquarters to offices in cities such as London and New York to develop its homegrown talent for investment and sales operations https://t.co/enEqGpHNoC ...