Nomura’s pioneering paper reveals that the risk of volatility targeting indices is systematically higher than the target level they are designed to maintain ...

China’s property downturn has hit harder than expected due to fiscal distress, wealth destruction and a credit crunch. We ...

Nomura economists see more rate hikes, but well below consensus as policy rates are near or above neutral US growth remains robust. We expect the Fed to deliver another hike in December. We see ...

Despite eroding trust in US policy, global savings remained extremely concentrated in USD investments, as the AI-driven equity boom has caused US net international investment position (NIIP) ...