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New Zealand Fixed Income Monthly (November 2024)
SHARE THIS In what has turned out to be an eventful year for interest rates, one of the major factors for New Zealand's bond market in 2024 has been the impact of monetary policy. We expect the Reserve Bank of New Zealand to continue monetary easing in...
https://www.nikkoam.co.nz/articles/2024/nz-fixed-income-monthly-november-2024 -
Yanagi Model in practice: analysis of TOPIX firms links ESG factors to shareholder value
SHARE THIS Our comprehensive analysis of the Yanagi Model, which provides an example of how sustainability issues have become a key part of corporate governance practices, showed that ESG integration can drive shareholder value. The significant...
https://www.nikkoam.co.nz/articles/2024/yanagi-model-in-practice -
Fed and BOJ in a wait-and-see mode amid uncertainty over US fiscal and trade policies
SHARE THIS The Fed and the BOJ both made interest rate decisions that were in line with market predictions, with the former cutting interest rates and the latter standing pat on policy. However, uncertainty around future policies and potential impacts...
https://www.nikkoam.co.nz/articles/2024/fed-boj-wait-and-see-december-2024 -
Balancing Act Monthly Insights: Global Multi-Asset (December 2024)
SHARE THIS We retain our positive view on growth on resilient economic data and dovish monetary policies globally as inflation starts to ease worldwide. As for defensives, sovereign bond curves are steepening amid the beginning of the global...
https://www.nikkoam.co.nz/articles/2024/multi-asset-monthly-december-2024 -
2025 GLOBAL OUTLOOK
SHARE THIS With their central banks bringing interest rates down from previously restrictive settings, 2024 has been the year when most of the world’s economic players have finally begun to experience an easing of monetary policy. In each instance,...
https://www.nikkoam.co.nz/articles/2025/2025-global-outlook -
Why We Should All Pay Attention to NZ
SHARE THIS Despite its small size and geographic location, New Zealand has led the World in a number of fields – physics, Postwar economic theory (Bill Phillips was born in NZ), inflation targeting (amongst the first to make this a statutory target),...
https://www.nikkoam.co.nz/articles/2025/why-we-should-all-pay-attention-to-nz -
Navigating Japan Equities: Monthly Insights From Tokyo (January 2025)
SHARE THIS This month we discuss how a rise in delistings reflects efforts to create a more attractive equity market; we also assess ways in which a merger by large automakers in Japan could stimulate reforms beyond the industry.
https://www.nikkoam.co.nz/articles/2025/japan-equity-monthly-january-2025 -
Politics, governance reform and engagement opportunities in Japan equities
SHARE THIS Following the surprise result of the snap election in October 2024, Japanese politics has entered a very unique phase. We discuss how the fluid political situation could positively impact the Japanese market, which is already feeling the...
https://www.nikkoam.co.nz/articles/2025/politics-governance-reform-japan-equities-2025 -
On the Ground in Asia-Monthly Insights: Asian Fixed Income (December 2024)
SHARE THIS We expect Asian local government bonds to perform well in 2025, supported by accommodative central banks amid an environment of benign inflation and moderating growth. The ongoing global easing cycle is expected to lower global yields,...
https://www.nikkoam.co.nz/articles/2025/asian-fixed-income-december-2024 -
Harnessing Change-Monthly Insights: Asian Equity (December 2024)
SHARE THIS Despite concerns about Donald Trump's impact on emerging markets, historical data shows that during his first term as US president, China, South Korea and Taiwan outperformed the S&P 500 although they are the most trade-sensitive equity...
https://www.nikkoam.co.nz/articles/2025/asian-equity-december-2024 -
How Japan can safeguard against US tariffs
SHARE THIS The future of US policy is surrounded by great uncertainty, particularly regarding tariff measures that the US may impose upon its trading partners. We explore options that are available to Japan to safeguard against tariffs the US may...
https://www.nikkoam.co.nz/articles/2025/how-japan-can-safeguard-against-us-tariffs-2025 -
BOJ hikes amid trade uncertainty: focus on AI’s indirect role in risk reduction
SHARE THIS The BOJ increased overnight rates by 25 basis points, raising the Mutan call rate to its highest since 2008. The decision reflects the BOJ's belief that the economy is performing in line with its view, with positive real wage growth and an...
https://www.nikkoam.co.nz/articles/2025/boj-hikes-amid-trade-uncertainty-2025 -
Balancing Act Monthly Insights: Global Multi-Asset (January 2025)
SHARE THIS We retained our positive view on growth on resilient economic data and dovish monetary policies globally as inflation is now closer to central bank targets worldwide. Our view of defensives improved as higher yields now make the asset class...
https://www.nikkoam.co.nz/articles/2025/multi-asset-monthly-january-2025 -
The Fed takes a leaf from the BOJ’s book and applies gradualism
SHARE THIS The Federal Reserve is seemingly following in the footsteps of the Bank of Japan and adopting a strategy of monetary policy gradualism. This measured approach is aimed at balancing rate cuts with inflation expectations and stabilising the...
https://www.nikkoam.co.nz/articles/2025/fed-takes-a-leaf-from-boj-january-2025 -
Balancing Act: Global Multi-Asset Quarterly (Q4 2024)
SHARE THIS In the 2024 October-December quarter, risk assets largely moved in line with expectations surrounding the US presidential election. We maintained an overweight position on growth assets over the quarter amid indications of resilient economic...
https://www.nikkoam.co.nz/articles/2025/multi-asset-quarterly-q4-2024 -
Navigating Japan Equities: Monthly Insights From Tokyo (February 2025)
SHARE THIS This month we discuss signs of improvement in the Bank of Japan (BOJ)'s market communication following its recent rate hike; we also focus on Japan's economic resilience amid a flurry of trade-related headlines impacting the markets.
https://www.nikkoam.co.nz/articles/2025/japan-equity-monthly-february-2025 -
New Zealand Fixed Income Monthly (January 2025)
SHARE THIS Although the arrival of a new year has brought some optimism after a tough 2024, economic activity remains subdued in New Zealand. The Reserve Bank of New Zealand may further cut interest rates in 2025 with global uncertainties impacting the...
https://www.nikkoam.co.nz/articles/2025/nz-fixed-income-monthly-january-2025 -
New Zealand Equity Monthly (January 2025)
SHARE THIS The New Zealand equity market paused for breath and dipped in January after posting significant gains towards the end of 2024. Some of the market’s decline reflected a dent in enthusiasm for consumer-facing and cyclical stocks. Global market...
https://www.nikkoam.co.nz/articles/2025/nz-equity-monthly-january-2025 -
Did DeepSeek cause an AI paradigm shift?
SHARE THIS The speed at which AI applications are becoming part and parcel of daily life is breathtaking, with DeepSeek's apparent breakthrough merely accelerating an inevitable, fundamental change in the field. We firmly believe these breakthroughs...
https://www.nikkoam.co.nz/articles/2025/did-deepseek-cause-a-paradigm-shift-february-2025 -
On the Ground in Asia-Monthly Insights: Asian Fixed Income (January 2025)
SHARE THIS We see Asian local government bonds being supported by accommodative central banks amid an environment of benign inflation and moderating growth. Within the region, we expect investor appetite for higher carry bonds such as those of...
https://www.nikkoam.co.nz/articles/2025/asian-fixed-income-january-2025