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2024

2023

  • Update on GX economic transition bonds

    Update on GX economic transition bonds

    11 April 2023 625 KB PDF
    • GX economic transition bonds will be launched in FY23, amid the expansion in the SDG bond market
    • We focus here on discussions at the Meeting of JGB Market Special Participants and the Meeting of JGB Investors
    • In my view, issuance of GX bonds in the 5yr and 20yr sectors is recommended
    • We should also carefully monitor changes in investors’ stance on greeniums
  • Daiwa's View

    Daiwa's View

    11 April 2023 532 KB PDF
    • Start of new BOJ leadership led by Ueda: Impressions from inaugural press conference
    • Ueda is taking the safe course, but not being rigid
  • Bond trading trend in February

    Bond trading trend in February

    20 March 2023 953 KB PDF
    • Reduced trading activity
    • Deposit-taking institutions, foreign investors cautious before BOJ’s March meeting
  • Daiwa's View

    Daiwa's View

    20 March 2023 521 KB PDF
    • UBS agrees to acquire Credit Suisse
    • A quick response to head off the contagion of financial instability
  • Daiwa's View

    Daiwa's View

    15 March 2023 563 KB PDF
    • Fed is behind the curve in more ways than one
  • Daiwa's View

    Daiwa's View

    13 March 2023 772 KB PDF
    • Governor Kuroda's ten years included surprises and miscalculations
    • The surprise was the sharp fall in oil prices, the miscalculation was the entrenchment and normalization of deflation
  • Daiwa's View

    Daiwa's View

    10 March 2023 651 KB PDF
    • USD/JPY basis continuing to remain less negative
    • Fed’s hawkish stance will tighten financial conditions
    • USD/JPY basis is likely to widen again
  • Daiwa's View

    Daiwa's View

    9 March 2023 739 KB PDF
    • Mr. Kuroda’s final response and assessment as Governor
    • How to sum up ten years of unprecedented easing