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2024

2023

  • Daiwa's View

    Daiwa's View

    16 September 2021 862 KB PDF
    • Divergence of Japanese and US forward yields.
    • Risk premium = investment attractiveness.
  • Daiwa's View

    Daiwa's View

    15 September 2021 583 KB PDF
    • Sharp slide in yields after release of CPI data.
    • Bull flattening due to decline led by forward yields.
  • Monthly MBS Issue

    Monthly MBS Issue

    13 September 2021 1201 KB PDF
    • Average DTI for Flat 35 loans is rising on more low-income borrowers.
  • Daiwa's View

    Daiwa's View

    13 September 2021 515 KB PDF
    • Taro Kono’s mainstay is administrative and regulatory reforms; his fiscal policy is likely to be inclined towards austerity.
  • Daiwa's View

    Daiwa's View

    10 September 2021 644 KB PDF
    • Possible factor behind simultaneous rise in stocks and bonds.
    • Could be portfolio investment flows.
  • Daiwa's View

    Daiwa's View

    9 September 2021 526 KB PDF
    • Fiscal policies of Mr. Kishida and Ms. Takaichi.
    • Dovish hawk and hawkish dove.
  • Daiwa's View

    Daiwa's View

    8 September 2021 1111 KB PDF
    • Bear steepening due to packed supply schedule.
    • Temporary normalization of excessively strong demand for bonds?
    • String of comments speculating on scaling back monetary easing in Europe.
  • Daiwa's View

    Daiwa's View

    6 September 2021 510 KB PDF
    • Prime Minister Suga decided not to run in the LDP presidential election.
    • Post-Suga outlook is still uncertain, but supplementary budget worth around Y30tn is likely to be formed in December.