Please select your default language.
Select Language
CIO Corner
Weekly Investment Themes
Navigate the market landscape using CIO Office's Weekly Investment Themes, highlighting the week's crucial themes.
-
US-China Summit Sideshow: Inflation Steals the Spotlight
May 19, 2026
The China-US summit delivered no game-changers, merely reinforcing existing trends: multipolarity, AI competition, and pro-growth policies. However, supportive monetary policy faces pressure as inflation surges from higher oil prices and Hormuz tensions. Global bond yields are spiking—JGB 30-year approaching 4.5%, UST 5.3%, UK Gilts 6%—driven by hawkish rate expectations and fiscal concerns. While Fed hikes seem unlikely given AI investment priorities, new Chair Kevin Warsh faces a delicate balancing act. Profit-taking risks loom until policy clarity emerges, especially for leveraged positions.
-
How Markets Are Navigating Geopolitical Crosscurrents
May 12, 2026
Global equities advanced last week, powered by AI and tech momentum despite US-Iran tensions and Strait of Hormuz disruptions. Nasdaq, South Korea, and Taiwan outperformed as volatility eased. Energy markets stayed elevated but contained, while central banks held steady amid record Fed dissents signaling policy tension. Looking ahead, the critical June Fed/ECB meetings and inflation data will test whether energy shocks broaden into core prices, shaping rate expectations and market direction.
-
Two Tales, One Market: AI Optimism vs. Middle East Tensions
April 28, 2026
Two competing narratives define markets this week: protracted Middle East tensions driving oil higher versus an unstoppable AI momentum fueling capex optimism. With $16 trillion in mega-cap earnings on deck and central bank meetings looming large, the near-term direction hangs in the balance. Short-term signals point to overbought levels, but we stay constructive beyond 1-2 weeks. The AI super-cycle shows real staying power, broadening beyond semiconductors into agents and physical AI. Stagflation favors nominal assets over cash. Our playbook: balance leaders with laggards, embrace secular themes like AI and energy transition, and remember — capacity constraints drive investment themes, not monetization fears.
Contributor
Julia Wang
CIO North Asia
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.
While all reasonable care has been taken to ensure that the information contained herein is not untrue or misleading at the time of publication, no representation, warranty or undertaking, expressed or implied, is made and no responsibility or liability is accepted by the Nomura Group and/or its directors, officers and employees as to the accuracy, completeness, merchantability or fitness for a particular purpose of the information contained herein or any other information provided by any other person in connection with the information described herein or their distribution or for the results obtained from the use of this information. Nomura Group and/or its directors, officers and employees do not accept any liability whatsoever for any loss or damage (including, without limitation, direct, indirect or consequential loss or loss of profits or loss of opportunity) suffered by you or any third party in connection with the use of this material or its contents.
Nothing herein should be construed as investment advice, and the Nomura Group is not in any way providing any investment advice. You should refrain from entering into, or purchasing any investment product unless you fully understand all the risks involved and you have independently determined that the investment is suitable for you. If you are in doubt to any aspect of this material, you should consult your own counsel, stockbroker or other professional advisers as to the legal, tax, financial and related aspects of any investment with specific reference to your particular circumstances.