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    Get your daily round-up of markets, macroeconomic trends, and global shifts through the Daily Macro Lens.

    • Japan’s Bond Market Chaos

      May 21, 2025

      For our chart of the day, we analyse the recent moves in Japan's yield curve amid a poor 20Y JGB auction, increasing concerns on Japan's fiscal health, and the BoJ's ongoing QT process.

    • Debt Ceiling Meets Ratings Downgrade

      May 20, 2025

      For our chart of the day, analyse recent US yield curve moves against the backdrop of the most recent US ratings downgrade by Moody's, and the ongoing debt ceiling debate.

    • Rising Fiscal Pressures in the US

      May 19, 2025

      For our chart of the day, we analyse the current and past trends in US fiscal deficit over the last two decades and its implications going forward.

    • RBI's Monetary Easing Path Now Clearer

      May 16, 2025

      For our chart of the day, we analyse India's latest Inflation print and what RBI's possible rate actions can be in light of the current growth-inflation dynamics.

    • Fed's Wait-and-Watch Gains Traction

      May 15, 2025

      For our chart of the day, we analyse US' April CPI inflation print and what that means for Fed rate cuts going forward.

    Contributor

     

    Gareth Nicholson

    CIO and Head Discretionary Portfolio Management

    Disclaimer

    • IWM CIO Corner Disclaimer

      This material has been prepared by the International Wealth Management business line of Nomura International (Hong Kong) Limited (“NIHK”) and/or Nomura Singapore Limited (“NSL”), and if applicable, with the contribution of one or more of its affiliates (collectively, “Nomura Group”). This is not a research report and the contents herein are strictly general and macro in nature and should not be considered research. This material is: (i) for your information only, and we are not soliciting any action based upon it; (ii) not to be construed as an offer to sell or a solicitation of an offer to buy any security or investments or accept any services in any jurisdiction where it may be illegal; and (iii) provided on the basis that it must not be relied upon for any purpose.

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