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Future Quality Insights: healthcare offers diversification from market hot spots
SHARE THIS We remain very strong supporters of the healthcare sector. In addition to the well-known demographic drivers, innovation is enabling structural changes in healthcare delivery and in our view these changes will confer years of strong organic...
https://www.nikkoam.co.nz/articles/2024/future-quality-insights-2024 -
Disequilibrium Economics
SHARE THIS Major “events” in markets have been caused by wrong assumptions over mathematical relationships. The Long Term Capital Management Debacle (LTCMD) in 1998 was primarily the result of the incorrect assumption of perfect markets by a cluster of...
https://www.nikkoam.co.nz/articles/2024/disequilibrium-economics -
Global Investment Committee’s outlook: stronger for longer
SHARE THIS The Global Investment Committee sees robust corporate earnings, firm employment and expectations for rate cuts keeping markets more buoyant than anticipated by average consensus estimates.
https://www.nikkoam.co.nz/articles/2024/global-investment-committee-outlook-2024 -
Navigating Japan Equities: Monthly Insights From Tokyo (April 2024)
SHARE THIS The Bank of Japan (BOJ) lifted interest rates for the first time in 17 years in March, making a historic departure from negative interest rates. We provide an overall evaluation of its decision, discuss how long accommodative monetary...
https://www.nikkoam.co.nz/articles/2024/japan-equity-april-2024 -
Of volcanic activity and Asian fixed income markets
SHARE THIS We highlight the importance of making decisions based on probabilities and the best expected outcomes, assessing relevant information and acting ahead in constantly changing market conditions.
https://www.nikkoam.co.nz/articles/2024/of-volcanic-activity-and-asian-fixed-income-markets-2024 -
On the Ground in Asia-Monthly Insights: Asian Fixed Income-March 2024
SHARE THIS We maintain a positive outlook for Asian local government bonds, particularly those from India, Indonesia and the Philippines. In our view, the disinflation trends in these countries should provide their central banks with the flexibility to...
https://www.nikkoam.co.nz/articles/2024/asian-fixed-income-march-2024 -
Harnessing Change - Monthly Insights: Asian Equity-March 2024
SHARE THIS The Chinese economy and its equity market continue to be significant focal points in broader Asia. Additional support measures, combined with a recalibration of market expectations, have helped Chinese equities recover from the panic selling...
https://www.nikkoam.co.nz/articles/2024/asian-equity-march-2024 -
Balancing Act-Monthly insights: Multi-Asset Team-April 2024
SHARE THIS Inflation uncertainty seems increasingly entrenched, which is less kind to developed market sovereign bonds. The US fiscal deficit is very large, and the Federal Reserve (Fed) is now in the challenging position of deciding when to cut rates....
https://www.nikkoam.co.nz/articles/2024/multi-asset-april-2024 -
BOJ stands pat on policy but paves way for future rate hikes
SHARE THIS The Bank of Japan kept interest rates steady as expected while upping its CPI forecast, paving the way for future rate hikes. Any further hawkish stance by the BOJ may depend on the persistence of positive real wages and inflation's impact...
https://www.nikkoam.co.nz/articles/2024/boj-stands-pat-policy-april-2024 -
Global Equity Quarterly Q1 2024
SHARE THIS Dreams have a place in the world. However, in stock markets, cashflows often serve as gravity when share prices display dream-like behaviour. Fortunately, our Future Quality philosophy, coupled with our consistent process of reviewing the...
https://www.nikkoam.co.nz/articles/2024/global-equity-quarterly-q1-2024 -
Investing in Japan: an insider's perspective with Naomi Fink
SHARE THIS Naomi Fink recently joined Nikko Asset Management as a Global Strategist based in Tokyo. We sat down with Naomi to discuss her personal relationship with Japan, and to hear her views on arguably the most talked-about investment region in the...
https://www.nikkoam.co.nz/articles/2024/investing-in-japan-2024 -
Will Quantitative Easing Return Soon?
SHARE THIS This may appear an odd question to ask given the recent slew of poor inflation data points that have been released but we suspect that “all is not quite as it seems” within bond markets, or even the global economy. First, the inflation story.
https://www.nikkoam.co.nz/articles/2024/will-quantitative-easing-return-soon -
Navigating Japan Equities: Monthly Insights From Tokyo (May 2024)
SHARE THIS This month we analyse why the influence of capex and wages on spending behaviour are key to gauging whether an inflationary mindset is taking hold among households; amid an adjustment by Japanese stocks from record highs, we also look for...
https://www.nikkoam.co.nz/articles/2024/japan-equity-monthly-may-2024 -
New Zealand Equity Monthly (April 2024)
SHARE THIS New Zealand is seeing its first set of climate-related disclosures. Under this regime which began in January 2023, large organisations release "climate statements" about the potential impact of their operations on the climate and vice versa,...
https://www.nikkoam.co.nz/articles/2024/nz-equity-monthly-april-2024 -
Could ESG reporting rules spark an EU-US trade war?
SHARE THIS The US presidential election in November continues to cast a long shadow, and as the race between the 45th (Donald Trump) and 46th (incumbent Joe Biden) presidents quickens, divisions have only widened. The investment world is no exception,...
https://www.nikkoam.co.nz/articles/2024/could-esg-reporting-rules-spark-an-eu-us-trade-ward-2024 -
New Zealand Fixed Income Monthly (April 2024)
SHARE THIS Despite the decline in one- and two-year inflation expectations, we feel that the longer term picture is likely to be dominated by broader secular forces, or prolonged trends not necessarily tied to cyclical factors, that structurally drive...
https://www.nikkoam.co.nz/articles/2024/nz-fixed-income-monthly-april-2024 -
Harnessing Change - Monthly Insights: Asian Equity-April 2024
SHARE THIS What a difference a month can make. Discussions have pivoted from interest rate cuts in the US to the possibility of an increase, while Chinese equities have rallied sharply on a combination of attractive value and hopes of effective policy...
https://www.nikkoam.co.nz/articles/2024/asian-equity-april-2024 -
On the ground in Asia Monthly Insights: Asian Fixed Income (April 2024)
SHARE THIS In terms of duration exposure, we maintain a positive outlook for medium-term duration, finding the current yield levels attractive. We expect Asia credit to remain well-supported due to subdued net new supply as issuers continue to access...
https://www.nikkoam.co.nz/articles/2024/asian-fixed-income-april-2024 -
The yen: how weak is too weak?
SHARE THIS The ongoing weakness in the yen has led to intense debate over whether Japan can cope with further challenges to its global purchasing power. Although it is a matter of concern, a weak currency isn't necessarily undermining Japan's economic...
https://www.nikkoam.co.nz/articles/2024/the-yen-how-weak-is-too-weak-2024 -
Balancing Act-Monthly insights: Multi-Asset Team-May 2024
SHARE THIS As the market comes to grips with the US rate structure potentially remaining high, we expect to see increased market volatility and a potential return of the positive correlation between bond and equities that was evident in the market...
https://www.nikkoam.co.nz/articles/2024/multi-asset-may-2024