Focused Thinking

Americas

At Nomura, we are always looking for opportunities that are born out of connected ideas. Nomura Connects brings together all of our latest thinking and views into one connected place.
Economics

China’s Trade Diversion Could Swamp Other Emerging Markets

The flood of imports from China was already impacting economies before Trump 2.0

4 min read | April 2025

Economics

Impact of the US Tariff Shock

Liberation Day tariffs to have different effects on different parts of the world

5 min read | April 2025

Economics

Liberation Day Tariff Policy Triggers Economic Forecast Revisions

President Trump’s reciprocal tariff announcement was more severe than expected. We have revised our inflation forecasts higher, our growth estimates lower, and continue to expect the Fed to remain on hold in the near term

3 min read | April 2025

Central Banks

What's on the horizon for the global economy?

Our weekly updated overview highlights the key releases of global economic market data from around the globe and provides an economic outlook for 2025 by region.

3 min read | April 2025

Economics

Private Credit Boom Set to Continue Amid Surplus of Capital

The private credit market is rapidly evolving, with new players, products and rules set to help it reach a projected $2.64tn by 2029.

3 min read | March 2025

Central Banks

How Trump’s Tariffs May Impact European Growth

US tariffs are likely to hamper European growth rather than cause an inflationary problem, making it more likely that European central banks further lower rates.

4 min read | February 2025

Economics

Quality Investing as a Hedge to High US Equity Valuations

As investors weigh up whether US equities can defy gravity for another year, buying quality and selling junk stocks offers a hedge in the event of a downturn.

3 min read | February 2025

Annual Outlook

US 2025 Outlook: Trump’s Policies to Shape the Path Ahead

The policies of the incoming Trump administration are likely to drive the outlook for growth and inflation in 2025. We expect a ramp-up in tariffs early next year that leads to a pickup in inflation and slower investment growth partly offset by an extension of the Trump tax cuts and deregulation.

9 min read | January 2025

Economics

Nomura Investment Forum: Trump Win a Backlash Against Elites, Says Koo

The result of the 2024 US presidential election was not a win for Trump, but rather a loss for America’s elite, according to Richard Koo, Chief Economist, Nomura Research Institute

3 min read | December 2024

Rates

How Uncleared Margin Rules are Driving Demand for Equity Futures

Regulatory drivers combined with higher rates are reshaping a corner of the derivatives market

4 min read | December 2024

Economics

US Economic Weekly Update

Our weekly update of the developments and key themes around the US economy

1 min read | December 2024

Economics

Trump’s populist policies and the Triffin dilemma

The perceived safety of US dollar assets could be marred by Trump’s populist policies in his second presidency.

5 min read | November 2024

Economics

More Flexible Rules Spur Use of Bond Buybacks by Financial Firms

Regulatory clarifications have opened-up the market for bond buybacks, allowing financial firms to proactively manage upcoming refinancing of regulatory capital.

3 min read | November 2024

Economics

Where Euro Rates Volatility Has Outperformed the US Dollar

Interest rate rises triggering opposite effects in the euro versus the dollar volatility market have created new investment opportunities.

3 min read | October 2024

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