The Week Ahead – Three From Seven
Nomura – The Week Ahead
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...
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The Week Ahead – Politics Takes Centre Stage
Nomura – The Week Ahead
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.
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The Week Ahead – Hiring and Firing
Nomura – The Week Ahead
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...
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The Week Ahead – Beyond Jackson Hole
Nomura – The Week Ahead
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).
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The Week Ahead – Fed Ahead
Nomura – The Week Ahead
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).
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The Week Ahead – Dual Mandate Pressure
Nomura – The Week Ahead
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).
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The Week Ahead – Is Trump Winning?
Nomura – The Week Ahead
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).
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The Week Ahead – I’m Kind of a Big Deal…
Nomura – The Week Ahead
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...
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The Week Ahead – Signs of Tarifflation
Nomura – The Week Ahead
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)
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The Week Ahead – Trump, Tariffs and the Fed
Nomura – The Week Ahead
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).
info_outlineMarket 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).