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  • Multi-asset monthly - November 2020

    SHARE THIS With the US presidential election now behind us, the two candidates seem to be proceeding in parallel universes. The apparent winner, President-elect Joe Biden, has transition planning and inauguration on his mind while President Donald...

    https://www.nikkoam.co.nz/articles/2020/multi-asset-november-2020

  • Asian Fixed Income Monthly - October 2020

    SHARE THIS US Treasury (UST) yields rose in October. The US presidential election and the fiscal stimulus deal were the focal points of news headlines and markets in October. Worries about the acceleration of COVID-19 cases in the US and Western...

    https://www.nikkoam.co.nz/articles/2020/asian-fixed-income-monthly-october-2020

  • Asian equity monthly – October 2020

    SHARE THIS US presidential election jitters and an uptick in COVID-19 cases in the US and Europe triggered a downturn in global equities in October. Asian stocks, however, managed to turn in decent gains for the month, owing to a slowing pace of...

    https://www.nikkoam.co.nz/articles/2020/asian-equity-monthly-october-2020

  • Developed markets fixed income quarterly (Q4 2020 outlook)

    SHARE THIS US Treasury (UST) yields rose in October. The US presidential election and the fiscal stimulus deal were the focal points of news headlines and markets in October. Worries about the acceleration of COVID-19 cases in the US and Western...

    https://www.nikkoam.co.nz/articles/2020/developed-markets-fixed-income-quarterly-q4

  • Significant value waiting to be unlocked in Japan

    SHARE THIS The COVID-19 pandemic has triggered changes in Japan that would have taken many years to initiate in less turbulent times. We believe there is significant value to be unlocked under such circumstances.

    https://www.nikkoam.co.nz/articles/2020/significant-value

  • Japan IP beats the US in October

    SHARE THIS For October, on a seasonally adjusted YoY basis, Japan’s October YoY Industrial Production (IP) result was better than both US Manufacturing IP and US Total IP. It likely surpassed Europe’s too.

    https://www.nikkoam.co.nz/articles/2020/japan-ip-beats

  • Inflation Is Regressive; Scenarios for 2021

    SHARE THIS During his now quite famous Jackson Hole session this year, the Fed Chairman outlined what at face value looks to be a profound shift in the Fed’s way of thinking about the economy.

    https://www.nikkoam.co.nz/articles/2020/inflation-is-regressive

  • Efficiency of Japanese corporate investment in human capital and shareholder value

    SHARE THIS Japan struggles with an aging and shrinking population and it is important for the country, both from an economic and social perspective, to improve its relatively low labour productivity by efficiently utilising its human resources.

    https://www.nikkoam.co.nz/articles/2020/efficiency-of-japanese-corporate

  • Japan Equity Monthly - November 2020

    SHARE THIS The Japanese equity market has posted impressive gains as 2020 draws to a close, with the Nikkei Stock Average reaching a near three-decade high, and we assess the rise from a long-term perspective. We also analyse how Japanese equities have...

    https://www.nikkoam.co.nz/articles/2020/japan-equity-monthly-november-2020

  • Australian equity monthly - November 2020

    SHARE THIS The S&P/ASX 200 Accumulation Index returned 10.2% during the month. Australian equities enjoyed a strong month (in fact, the best monthly return since 1992) on positive COVID-19 vaccine news, additional quantitative easing measures locally...

    https://www.nikkoam.co.nz/articles/2020/australian-equities-monthly-november-2020

  • Australian Fixed Income Monthly – November 2020

    SHARE THIS The Australian bond market (as measured by the Bloomberg AusBond Composite 0+ Yr Index) returned -0.11% over the month. The yield curve steepened as 3-year government bond yields ended the month 1 basis point (bp) lower at 0.11%, while...

    https://www.nikkoam.co.nz/articles/2020/australian-fixed-income-monthly-november-2020

  • Asian Fixed Income Monthly - November 2020

    SHARE THIS The US Treasury (UST) yield curve flattened in November. Risk markets rallied after the US presidential election. Investor confidence was lifted following positive trial results of a COVID-19 vaccine. Yields subsequently retracted part of...

    https://www.nikkoam.co.nz/articles/2020/asian-fixed-income-monthly-november-2020

  • Asian equity monthly – November 2020

    SHARE THIS Asian stocks turned in strong gains in November, boosted by positive COVID-19 vaccine developments, rising hopes for better US-Asia ties under the leadership of US President-elect Joe Biden and stronger-than-expected economic data from...

    https://www.nikkoam.co.nz/articles/2020/asian-equity-monthly-november-2020

  • Global Investment Committee Outlook: Especially buoyant non-US equities

    SHARE THIS Although some on the committee agreed with the market consensus for a moderate continuation of economic growth and equity markets, and a few were even more cautious, especially regarding increased fears of inflation later in 2021, the...

    https://www.nikkoam.co.nz/articles/2020/global-investment-committee-outlook-especially-buoyant-non-us-equities

  • Multi-asset monthly - December 2020

    SHARE THIS While economic data is likely to remain soft, driven by the more recent lockdowns in the US and Europe, markets are rightly looking through the near-term gloom as impending vaccines for COVID-19 are showing the proverbial light at the end of...

    https://www.nikkoam.co.nz/articles/2020/multi-asset-december-2020

  • Could Inflation Haunt the World in 2021?

    SHARE THIS Since 1995, the price of an ‘average’ restaurant meal in the USA has increased by 102%. Since 2009, the price of a meal has increased by 25%. Hotel prices have increased by 50% since 1995, and by 30% since the GFC (if we exclude the Covid-19...

    https://www.nikkoam.co.nz/articles/2020/could-inflation-haunt-the-world

  • Jumping the paradox

    SHARE THIS 2020 was a year of fear, anxiety, uncertainty and global economic defibrillation. And yet for investors and owners of assets – from art, to gold to property – it was also one of growth, prosperity and increasing confidence. This asset price...

    https://www.nikkoam.co.nz/articles/2020/jumping-the-paradox

  • ESG in the investment process

    SHARE THIS Wealthy individuals across generations are interested in investing for environmental or social impact, but Millennials are by far the most active in evaluating and indeed, demanding these strategies.

    https://www.nikkoam.co.nz/articles/2021/esg-in-the-investment-process

  • Investing for the Long Term: 'Future Quality' Companies

    SHARE THIS The Nikko Asset Management Global Equity team philosophy is based on the belief that investing in ‘Future Quality’ companies will lead to outperformance over the long term. This paper draws on academic evidence to outline the three...

    https://www.nikkoam.co.nz/articles/2021/investing-for-the-long-term

  • Beyond the pandemic: Identifying sources of alpha in Japan

    SHARE THIS The global markets surged in 2020 despite the COVID-19 pandemic. While we expect the liquidity-driven rise to continue for a while, we should be prepared for the tide to eventually turn. We identify Japanese industries, notably “Delta ESG”...

    https://www.nikkoam.co.nz/articles/2021/identifying-sources-of-alpha

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