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2022

2021

  • Daiwa's View

    Daiwa's View

    18 February 2022 942 KB PDF
    • Where is the rational midpoint?
    • Is Japan's terminal rate around 0.9-1.15%?
  • Daiwa's View

    Daiwa's View

    15 February 2022 814 KB PDF
    • Widening corporate bond spread mirrors direction of macro economy.
    • Greater likelihood of deterioration in real income.
  • Daiwa's View

    Daiwa's View

    14 February 2022 859 KB PDF
    • 10-year US yield reached 2%; BOJ gave advanced notice it will conduct fixed-rate purchase operations.
  • Daiwa's View

    Daiwa's View

    9 February 2022 792 KB PDF
    • JGB yields have reached threshold levels.
    • Looking a little further into the future, estimated returns on investments based on current levels will very likely improve.
  • Daiwa's View

    Daiwa's View

    8 February 2022 997 KB PDF
    • Bond market remains very volatile, but...
    • It may be time for bond market to gradually find opportunities to lower volatility?
  • Daiwa's View

    Daiwa's View

    4 February 2022 922 KB PDF
    • Hawkish shift by ECB brings abrupt changes in Japan and overseas.
    • Rise in hedging cost may accelerate return to investment in yen bonds.
  • Daiwa's View

    Daiwa's View

    3 February 2022 810 KB PDF
    • Pandemic-led change in banks’ balance sheets and JGB market.
  • Daiwa's View

    Daiwa's View

    2 February 2022 707 KB PDF
    • High chance of implementation of fixed-rate purchase operations in the 2-year sector.
    • Simple linear interpolation suggests implementation in the 2-year zone is not far off.