Focused Thinking
Economics
Canada will likely secure an agreement with the US on the United States–Mexico–Canada Agreement (USMCA) but under a more conditional framework that institutionalizes volatility and weighs on growth
4 min read | May 2026
Technology
Execution economics – manufacturing scale, supply-chain integration, and deployment readiness – will ultimately determine the winners
4 min read | April 2026
Economics
We expect US tariff policy to continue its current de-escalatory trajectory, despite the possibility of episodic flare-ups
5 min read | March 2026
Central Banks
Increasing energy prices weigh on Europe and Asia, while the US remains largely insulated; energy exporters outside of the Middle East benefit from elevated prices
4 min read | March 2026
Rates
Iran war undermines the long-held assumption that bonds and equities offset one another in times of crisis but supports the case for long swaption straddles as a hedge
3 min read | March 2026
Economics
The Trump administration has announced a range of measures aimed at addressing affordability in the run up to this year’s midterm elections including housing, healthcare and consumer finances. In our view, these initiatives are unlikely to materially alter the near-term inflation outlook
6 min read | January 2026
Annual Outlook
We expect above-trend growth, a fall in the unemployment rate and sticky inflation, but a politicized Fed still cuts twice
9 min read | January 2026
Japan in focus
How to raise 150 trillion yen in investments to help Japan achieve a green transition and maintain economic growth.
3 min read | November 2025
Technology
Alex Wotton, Global Co-Head of Nomura Greentech, sat down with Takaki Kobayashi, Head of Nomura Greentech Japan at Nomura’s Transition Investments to Achieve Carbon Neutrality event in Tokyo to discuss the latest green M&A trends.
2 min read | November 2025
Technology
Investors are optimistic about the global megatrends of AI and electrification despite inflationary headwinds and multi-speed transitions on the path to a low carbon future
6 min read | October 2025
Technology
Sectors in the green transition are more interconnected than ever, making it essential to understand their interplay to successfully navigate the thematic.
4 min read | October 2025
Japan in focus
How the woman chosen to lead Japan’s incumbent political party could affect markets and the economy.
3 min read | October 2025
Volatility
Tariff-related volatility is changing block trading patterns, making understanding the nuances of dark liquidity more critical to navigate stock trading in Europe.
3 min read | September 2025
Economics
Weak US nonfarm payrolls and a not too-hot CPI report have led Nomura economists to bring forward the timing of the next Fed rate cut to September from December
4 min read | August 2025