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On the Ground in Asia-Monthly Insights: Asian Fixed Income-September 2023
SHARE THIS Amid the current rise in oil prices, global central banks have become more vigilant against inflation, becoming increasingly wary of risks occasioned by a potentially premature end to their rate hiking cycles. Consequently, we deem it...
https://emea.nikkoam.com/articles/2023/asian-fixed-income-monthly-sep-23 -
Modern versus traditional alpha
SHARE THIS Modern alpha relies on multiple sources and is therefore more stable and recurring than the traditional “big bets”. For most investors, the main source of alpha is fundamental research. But to add stability it is plausible to combine...
https://emea.nikkoam.com/articles/2310-modern-versus-traditional-alpha -
Balancing Act-Monthly insights: Multi-Asset Team-October 2023
SHARE THIS Defying seemingly broad sentiment that a slowdown is coming, the US economy continues to chug along, and bond yields are continuing to wake up to the monetary reality that long-term rates need to be repriced accordingly. The adjustment has...
https://emea.nikkoam.com/articles/2023/multi-asset-oct-2023 -
The climate change megatrend
SHARE THIS Although once-in-a-generation exceptional weather events now risk becoming alarmingly routine, there is still time to turn the tide. This need for immediate action is why we define climate change as an investment megatrend, and we believe...
https://emea.nikkoam.com/articles/2310-the-climate-change-megatrend -
China and India’s contrasting inflation front
SHARE THIS We explore the opportunities and risks emanating from China’s near-zero inflation and India’s above-average consumer prices.
https://emea.nikkoam.com/articles/2023/2310-china-and-india-contrasting-inflation-front -
Biodiversity is next for green bond expansion
SHARE THIS Our economic system is based on a model of take, make and waste that consistently over-utilises and fails to replenish Earth’s valuable, but dwindling resources. The need to transform how we interact with nature creates a major opportunity...
https://emea.nikkoam.com/articles/2023/2310-biodiversity-is-next-for-green-bond-expansion -
Assessing the impact of Green Bonds
SHARE THIS The Green Bond market has experienced tremendous growth since 2007, but despite its rapid success, there are still barriers to overcome. In particular, assessing the impact of Green Bonds continues to be a contentious topic.
https://emea.nikkoam.com/articles/2023/2311-assessing-the-impact-of-green-bonds -
Harnessing Change - Monthly Insights: Asian Equity-October 2023
SHARE THIS While the risk-off environment stretched into another month, we are still finding plenty of positives in Asia. India’s macro remains favourable; Chinese equity markets are near the cheapest in 20 years; and the semiconductor industry is...
https://emea.nikkoam.com/articles/2023/asian-equity-monthly-oct-2023 -
Navigating Japan Equities: Monthly Insights from Tokyo (November 2023)
SHARE THIS We analyse the Bank of Japan’s decision to further tweak its yield curve control scheme amid the latest developments hinting at sustained wage growth; we also assess why an acute labour shortage could be a golden opportunity for Japan Inc....
https://emea.nikkoam.com/articles/2023/japan-equity-monthly-november-2023 -
New Zealand Fixed Income Monthly – October 2023
SHARE THIS The general election held in October resulted in a change in government for New Zealand. Although it is difficult to gain a full picture at this stage, we can make some key observations on monetary policy: the Reserve Bank of New Zealand’s...
https://emea.nikkoam.com/articles/2023/nz-fixed-income-monthly-oct-23 -
New Zealand Equity Monthly – October 2023
SHARE THIS In one of the most significant changes surrounding New Zealand’s equity market in recent years, the general election held in October delivered a change of government. Overall business sentiment has been generally positive after the election...
https://emea.nikkoam.com/articles/2023/nz-equity-monthly-oct-23 -
What to look for when investing in Green, Social and Sustainability Bonds
SHARE THIS The emergence of Sustainable Bonds as an asset class has been relatively rapid, and the spectrum of different classifications of investments can naturally be confusing for investors. Here we outline some of the key criteria for investors to...
https://emea.nikkoam.com/articles/2023/what-to-look-for-when-investing-in-green-social-and-sustainability-bonds -
Credit spreads: not as tight as they seem
SHARE THIS Recently many fixed income investors have experienced steep price declines in their bond portfolios. We have argued that it is not only duration that explains the interest risk of a portfolio, but that convexity needs to be accounted for as...
https://emea.nikkoam.com/articles/2023/2311-credit-spreads-not-as-tight-as-they-seem -
Future Quality Insights -November 2023-New regime, new learning
SHARE THIS The last few quarters have been a good reminder that we are in a changing world. As a result, we need to focus always on investing in enduring franchises and we would suggest that our Future Quality approach is soundly placed in that regard....
https://emea.nikkoam.com/articles/2023/future-quality-insights-2311 -
On the Ground in Asia-Monthly Insights: Asian Fixed Income-October 2023
SHARE THIS We expect macro and corporate credit fundamentals across Asia ex-China to stay resilient with fiscal buffers, although slower economic growth appears to loom over the horizon.
https://emea.nikkoam.com/articles/2023/asian-fixed-income-monthly-oct-23 -
Climate change case study: E.ON
SHARE THIS In the transition to net zero, the focus is on impact and engagement. We are actively engaged in the global fixed income markets, and support green and sustainable investments in the transition towards overall sustainability in order to meet...
https://emea.nikkoam.com/articles/2023/2311-climate-change-case-study-eon -
Balancing Act-Monthly insights: Multi-Asset Team-November 2023
SHARE THIS We have held on to our view that the “higher for longer” narrative is not necessarily bad for equities, as robust earnings are supported by a US economy that continues to grow at above-trend rates. However, we are also sympathetic to the...
https://emea.nikkoam.com/articles/2023/multi-asset-nov-2023 -
Japan’s “Show Me the Money” corporate governance: 3Q profit margins near record high
SHARE THIS The just-released 3Q CY23 data on Japan’s aggregate corporate profits was a bit mixed, but the overall corporate recurring pre-tax profit margin surged to a record high on a four-quarter average. The non-financial service sector rose to...
https://emea.nikkoam.com/articles/2023/2312-japan-show-money-corporate-governance-3q -
China equity outlook 2024
SHARE THIS For those willing to brave immediate challenges, we believe China will continue to offer long-term opportunities as the country has been working to become technologically self-sufficient and develop high-end technologies on its own in a more...
https://emea.nikkoam.com/articles/2023/china-equity-outlook-2024 -
Asian rates and FX outlook 2024
SHARE THIS We expect 2024 to be a year of higher returns and lower volatility for Asian local government bonds as US Treasury yields are seen stabilising. We also see Asian currencies firming against the dollar in 2024 as the Federal Reserve’s rate...
https://emea.nikkoam.com/articles/2023/asian-fixed-income-and-fx-outlook-2024
