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2023

2022

  • Daiwa's View

    Daiwa's View

    11 March 2022 528 KB PDF
    • The market after US CPI and ECB meeting.
    • Stagflation scenario cannot be eliminated with central banks focusing on inflation.
  • Daiwa's View

    Daiwa's View

    10 March 2022 1019 KB PDF
    • There may have been a major relief rally, but...
    • Market stress is also strong as yield curves remain inverted amid widening of Libor/OIS spread.
  • Daiwa's View

    Daiwa's View

    25 February 2022 1016 KB PDF
    • Market shaken by geopolitical tensions.
    • March ECB Governing Council is an important factor for JGBs as well.
  • Daiwa's View

    Daiwa's View

    22 February 2022 769 KB PDF
    • Has the process of correcting the overshoot started?
    • ‘Negative impact on real economy’ is a key point when considering actions by BOJ.
  • Daiwa Bond trading trend

    Daiwa Bond trading trend

    21 February 2022 1008 KB PDF
    • Difference in domestic, foreign investor stances again apparent.
  • 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.