Access policy
By accessing this page you are indicating that you have read, acknowledged and agree to be bound by the following terms and conditions, as issued by Daiwa Capital Markets Europe Limited (DCME). DCME is the wholly-owned investment banking subsidiary of Daiwa Securities Group Inc. DCME is registered in England (registered number 01487359). The registered office is based at 5 King William Street, London EC4N 7AX. The company is authorised and regulated by the Financial Conduct Authority. Daiwa Capital Markets Europe Limited is a member of the London Stock Exchange. Professional Investors only The materials on this website are intended only for professional, institutional or qualified investors. It may not be suitable for retail or individual investors. If you are a retail or individual investor and you proceed to access these materials, you understand that you are doing so at your own risk and that neither DCME nor any of its affiliated entities have solicited you or encouraged your access. Access Subject to Local Restrictions This website is not directed at any specific jurisdiction and you are entering a global website. Products or services mentioned on this site are subject to legal and regulatory requirements and may not be available in all jurisdictions. Accordingly you are required to inform yourself and observe any such restrictions. Products or services mentioned on this website are intended only for distribution in those jurisdictions where the offering of such products and services is permissible. Products and Services This website describes DCME’s capabilities and is for information purposes only. None of the material contained on this website is intended to constitute an offer to sell or an invitation or solicitation of an offer to buy any product or service provided by DCME and must not be relied upon in connection with any investment decision. This website does not provide any specific investment advice and does not take into consideration the investment needs of any particular investor or investors. Further, no part of this website contains an offer to provide finance or any underwriting commitment to any person. The provision of finance or underwriting to any person is discretionary and is dependent (amongst other things) on lending and security criteria. It does not constitute an offer or acceptance of contract, or indicate an intention to enter into legal relations in any form. Risk Warning There are significant risks associated with investment in the products and services that may be provided by DCME; these may include, but are not limited to, any one or combination of, market, liquidity, credit, operational, legal and regulatory risks. Changes to Content The information contained on this website is provided as-is, is subject to change without notice and no guarantee is made as to its accuracy, completeness or fitness for a particular purpose. DCME has expressed its own views and opinions on this website, and these may change without notice. DCME is under no obligation to update information and readers should not rely solely on the information contained on this website in making an investment decision. Liability Whilst DCME seeks to ensure that the information on this website is accurate and complete at the date of publication, DCME does not warrant the adequacy, accuracy or completeness of this information and does not accept any liability arising from reliance on any inaccuracy, omission in, or the use of or reliance on the information on this website. Data Protection and Privacy To the extent that you provide personal data or we obtain the same via your use of this website, we shall do so in accordance with our privacy notice, which can be found here. If you have any queries, please email DPO@uk.daiwacm.com. Governing Law The content of this website should be construed under and governed by the laws of England and Wales and the courts of this jurisdiction will have exclusive jurisdiction in respect of any dispute that may arise, except where such content is expressed to be governed by the laws of another jurisdiction. If for any reason a court of competent jurisdiction finds any provision of the Important Information section unenforceable, that provision shall be enforced to the maximum extent permissible, and the remainder of the Important Information shall continue in full force and effect. Copyright No part of this website may be reproduced in any manner without the prior written permission of DCME. Copyright 2018 ©
Tick here to confirm that you have read and understood the terms and conditions.
Accept
Home
Careers
Contact us
About Us
Overview
Company History
Corporate Governance & Regulatory
Corporate Principles
IBOR Transition
Board of directors
Modern Slavery Act 2015
Corporate Social Responsibility
Equity, Diversity & Inclusion
Products & Services
Equity
Investment Banking
Research
Fixed Income
Convertible Bonds
General Sales & Trading Disclosure/Disclaimer
Global Network
FICC Research
London & NY Research
Tokyo Research
Recent Blogs
News & Media
News
Financial Reports
Awards & Recognition
Sponsorship
Email Alerts
About Us
Overview
Board of directors
Company History
Modern Slavery Act 2015
Corporate Governance & Regulatory
Corporate Social Responsibility
Corporate Principles
Equity, Diversity & Inclusion
IBOR Transition
Products & Services
Equity
Japanese Equity
Asian Equity
European Equity
Execution Services
Fixed Income
Fixed Income Trading
Fixed Income Sales
Business Management
MTNs & Structured Products
Japan Desk
Repo
Investment Banking
Equity Capital Markets
Debt Capital Markets
Syndication
Convertible Bonds
Research
General Sales & Trading Disclosure/Disclaimer
Global Network
FICC Research
London & NY Research
Recent Blogs
Tokyo Research
News & Media
News
Sponsorship
Financial Reports
Email Alerts
Awards & Recognition
Home
Careers
Contact us
Home
/
FICC Research
/
Tokyo Research
Tokyo Research
FILTER DOCUMENTS
Category
Clear
Europe
Japan
US
Global
FILTER DOCUMENTS
Archive
Reset
2023
Sep (23)
Aug (25)
Jul (30)
Jun (29)
May (26)
Apr (22)
Mar (36)
Feb (31)
Jan (31)
Subscribe to RSS feed
Daiwa's View
2 August 2021
544 KB
PDF
Two supplementary budgets—one for economic/COVID-19 measures and one for the regular budget in Dec—may be unified in Nov?
If compiled in Nov, only one supplementary budget may be formed in which factors that increase and decrease JGB issuance cancel each other out.
Share
Daiwa's View
30 July 2021
1131 KB
PDF
Factors behind decline in real yields.
Probable causes are decline in term premium and technical factors.
Share
Daiwa's View
28 July 2021
859 KB
PDF
US yields staying at lower limit, while JGB yields remain inert.
I. US yields must be close to lower limit, but
II. Buy-on-dips recommended for JGBs.
Share
Daiwa's View
20 July 2021
812 KB
PDF
Structural reasons why long-term rates are not rising.
Deposits continue to grow in Japan, the US, and Europe.
Are changes in corporate behavior keeping rates from rising?
Share
Daiwa's View
20 July 2021
847 KB
PDF
US yield fell below 1.2% due to supply/demand and risk-off factors.
I. Risk-off scenario is troubling.
II. 10-year JGB yield finally testing 0%.
Share
Daiwa's View
19 July 2021
853 KB
PDF
Points of BOJ measures related to climate change.
BOJ doing what it can within its mandate.
Share
Daiwa's View
16 July 2021
872 KB
PDF
Tremendously strong demand.
I. Factors behind yield declines are shifting?
II. Decline in overseas yields is spreading to Japan.
Share
Daiwa's View
16 July 2021
691 KB
PDF
Stocks and bonds rise together
Is a dangerous rise in stocks triggering bond buying?
Share
<Prev
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
Next>