Ad-hoc Macro & Economic Research

Mizuho Insights

• Mizuho Musings: 19 December 2024: Fed: The Problem With Partial Assumptions
• Mizuho Musings: 17 December 2024: JPY Depreciation Spells BoJ Tension, Not Trigger
• Mizuho Brief: 16 December 2024: China: Pushing on a String Risks
• Mizuho Musings: 13 December 2024: What Central Banks Should Worry About
• Mizuho Brief: 12 December 2024: Why Beijing Will Not Deploy an Aggressive CNY Devaluation Strategy
• Mizuho Brief: 10 December 2024: The Korea Puzzle
• Mizuho Brief: 04 December 2024: Korea Risks: Short-Lived Martial Law Jolt, But Sticky Risk Premium?
• Mizuho Brief:20 November 2024: Trump 2.0 Tariffs: Collateral & Bi-lateral Pain
• Mizuho Brief:30 October 2024:USD : A Bumpy Ride with a Boisterous USD to a "Soft Landing" 
• Mizuho Macro Themes:30 October 2024: Chaos & Control
• Mizuho Macro Themes:22 October 2024: Binary
• Mizuho Brief:17 October 2024: AXJ: The Challenge of Shifting FX Sands
• Mizuho Brief:14 October 2024: MAS After-Thoughts - Distinctly, Even if Not Obviously Dovish
• Mizuho Brief:10 October 2024: MAS Watch: Sweet Spot
• Mizuho Macro Themes:7 October 2024: Dampened, Not Derailed
• Mizuho Macro Themes:30 September 2024:China Put, Not Panacea
• Mizuho Macro Themes:23 September 2024: Cold-ilocks?
• Mizuho Macro Themes:18 September 2024: Overzealous or Ominous?
• Mizuho Macro Themes:17 September 2024: Of Curves & Curveballs
• Mizuho Brief:6 September 2024: Bracing for Steeper Curves & Loftier Term Premium
• Mizuho Macro Themes:2 September 2024: Sun-Kissed or Sun-Burnt?
• Mizuho Macro Themes:26 August 2024: The Jerry Maguire Fed
• Mizuho Brief:22 August 2024: EM-Asia Policy and FX Risks: Can Em-Asia Start Cutting Rates Now?
• Mizuho Macro Themes:19 August 2024: Jackson Hole: Digging In Or Out?
• Mizuho Brief:6 August 2024: China Risks & AXJ Spillover
• Mizuho Themes:5 August 2024: The Icarus Problem
• Mizuho Brief:30 July 2024: BoJ & Risks: Misunderstanding BOJ & Misgauging Risks
• Mizuho Themes:29 July 2024: Changing Minds?
• Mizuho Brief: MAS Watch: Patience
• Mizuho Themes: 15 July 2024: Non-Linearity
• Mizuho Brief: 15 July 2024: Dodging & Biting Bullets
• Mizuho Brief: 11 July 2024: Unpacking Powell's Pivot and Premium
• Mizuho Themes: 8 July 2024: Electing Goldilocks
• Mizuho Brief: 2 July 2024:EM Asia FX & Rates: Still in the Shadows of “Higher for Longer”
• Mizuho Themes: 1 July 2024: Incumbent Doubts
• Mizuho Themes: 18 June 2024: The Fed's Hawkish Flex and Other Stories
• Mizuho Themes: 10 June 2024: Inequitable Inaction
• Mizuho Insights: 5 June 2024: India Elections: Diminished Sway & Dulled Bulls
• Mizuho Insights: 19 April 2024: Currency Risks for EM Asia Central Banks
• Mizuho Insights: 18 April 2024: CNY Risks: Addressed, Not Acquitted
• Mizuho Insights: 11 April 2024: Gold's Geo-Political Shine & Anti-Fiat Super-power
• Mizuho Insights: 2 April 2024: India Growth & Rupee
• Mizuho Insights: 27 March 2024: CNY & PBoC
• Mizuho Insights: 15 March 2024: BoJ and Volatility
• Mizuho Insights: 12 March 2024: Ten Dragon Themes
• Mizuho Insights: 4 March 2024: China NPC: March Ado
• Mizuho Insights: 4 March 2024: “Dollar Trump” - Why the USD May Trump with Donald Trump
• Mizuho Insights: 26 January 2024: MAS Watch: Dynamic Tensions
• Mizuho Insights: 17 November 2023: India Views: Conditionality & Caution
• Mizuho Insights: 10 October 2023: MAS Watch: Hard, Hawkish Hold
• Mizuho Insights: 12 September 2023: Why Peak Fed is Not Peak Pain
• Mizuho Insights: 31 August 2023: China Woes (Part 2): Liquidity Trap
• Mizuho Insights: 23 June 2023: AUD Bulls
• Mizuho Insights: 27 February 2023: Malaysia Budget 2023: Constrained Consolidation
• Mizuho Insights: 26 September 2022: FX Brief: Dealing with "Higher For Longer" USD
• Mizuho Insights: 8 August 2022: Bank Indonesia's Fast Fading Mirage of Stability
• Mizuho Insights: 25 April 2022: Vietnam: Evolution of the VND
• Mizuho Insights: 12 January 2022: What to Make of Hawkish Fed Pivot?
• Mizuho Insights: 05 January 2022: 5 Themes to Muse for EM Asia
• Mizuho Insights: 08 December 2021: The "Kokomo" Conjecture
• Mizuho Insights: 30 November 2021: EM Asia FX: Deciphering Portfolio Flows & FX Linkages
• Mizuho Insights: 21 October 2021: Thailand: Heavily Reliant on Fiscal Support 
• Mizuho Insights: 15 October 2021: The What, Why & How of MAS "Suprise" 
• Mizuho Insights: 25 August 2021: Indonesia: Fiscally Challenged  
• Mizuho Insights: 18 August 2021: Philippines: On Steady Fiscal Footing But Challenges Remain
• Mizuho Insights: 04 August 2021: India: Mind the Fiscal Gap 
• Mizuho Insights: 27 April 2021:  ASEAN-6 and India: Renewed Virus Outbreaks Threaten Growth Recovery Amidst Slow Inoculations 
• Mizuho Insights: 06 April 2021: MAS Watch: Unhurried & Unfazed  
• Mizuho Insights: 26 February 2021: Output Gap: The (Output) Gap Between Reflation & Inflation Risks  
• Mizuho Insights: 25 February 2021: ASEAN-6: COVID-19 Inoculation Drive Slowly Getting Off The Ground
• Mizuho Insights: 11 February 2021: Vietnam: 2021 Outlook: Resilient But Not Immune
• Mizuho Insights: 02 February 2021: Myanmar Coup: What Next?
• Mizuho Insights: 26 January 2021: Indonesia 2021 Outlook: Long and Bumpy Road to Recovery 
• Mizuho Insights: 08 January 2021: QE & Asset Markets: The Uni-QE Game in (a post-COVID) Town?
• Mizuho Insights: 30 December 2020: 2021 Risk Outlook: A Glimpse of the "Other Side"
• Mizuho Insights: 20 November 2020: EM Asia Growth: Of Green Shoots, Roots & Gardens

 

Mizuho Flash

• Mizuho Flash: 4 December 2024: Philippines Ratings Outlook Revision Insufficient for PHP Boost
• Mizuho Flash: 30 October 2024: Malaysia Budget 2025: Key Takeaways
• Mizuho Flash: 20 September 2024: Post-Bank Indonesia: Surprises and Opportunities
• Mizuho Flash: 23 August 2024: Indonesia Budget: Fiscal Risks Not Absolved
• Mizuho Flash: 14 August 2024: THB: Political Uncertainty Reigns 
• Mizuho Flash: 31 July 2024: Five Things to Know About Thailand's Digital Wallet
• Mizuho Flash: 18 July 2024: The Trump (JPY-CNY) Wedge
• Mizuho Flash: 1 July 2024: Vietnam: Growth Recovery and VND Woes
• Mizuho Flash: 23 May 2024: Vietnam: VND and SBV Under Pressure
• Mizuho Flash: 14 May 2024: EM_Asia: Semi-Conductor Cycle & Implications
• Mizuho Flash: 9 May 2024: Philippines Tourism: What the Numbers Say
• Mizuho Flash: 19 April 2024: Bank Indonesia: Tough Call
• Mizuho Flash: 22 March 2024: Vietnam: The Long and Short of Political Uncertainty
• Mizuho Flash: 14 March 2024: Oil In, Not Over, Troubled Waters
• Mizuho Flash: 15 February 2024: What to Make of The Indonesia Elections
• Mizuho Flash: 6 February 2024:IDR: Tread Cautiously
• Mizuho Flash: 30 January 2024:Vietnam: Bonds That Bind
• Mizuho Brief: 26 January 2024: The El Nino Risk Premium
• Mizuho Brief: 1 December 2023: KRW: Waiting For Dawn
• Mizuho Flash: 21 November 2023: China Property: White List, Not Knight
• Mizuho Flash: 16 November 2023: THB: Baht Bears and Tourism Bulls
• Mizuho Flash: 8 November 2023: Indonesia Elections: Competition, Continuity & Capital 
• Mizuho Flash: 4 October 2023: Fiscal Setbacks
• Mizuho Flash: 23 August 2023: BRICS Threat to USD Exaggerated
• Mizuho Flash: 16 August 2023: China Woes: Signals, Not Solutions
• Mizuho Flash: 2 August 2023: Vietnam: Contemplating Bottoms
• Mizuho Flash: 25 July 2023: FX: USD: Keeping It Real 
• Mizuho Flash: 19 July 2023:  THB: The Political Uncertainty Premium
• Mizuho Flash: 21 June 2023: Why China Stimulus May Stumble
• Mizuho Flash: 25 May 2023: A Thought Experiment on US Debt Default
• Mizuho Flash: 20 April 2023: Thailand Politics: Unsettled Continuity
• Mizuho Flash: 18 April 2023: China's Flattered Growth & Flustered Commodity Bulls
• Mizuho Flash: 14 April 2023: MAS: Manufacturing Recession & "Intensifying Risks"
• Mizuho Flash: 3 April 2023: Vietnam Policy: The SBV's Gambit to Widen Liquidity/Credit Cushion
• Mizuho Flash: 30 March 2023: Unpacking China's "Around 5%" Disappointment
• Mizuho Flash: 29 March 2023: Vietnam GDP and Inflation: Dismal Slowdown
• Mizuho Flash: 16 March 2023: Vietnam Real Estate Snapshot: Relevance and Risks
• Mizuho Flash: 14 March 2023: SVB & How to Think About Risks
• Mizuho Flash: 16 February 2023: BI & BSP: A Tale of Diverging Inflation Fortunes
• Mizuho Flash: 14 February 2023: EM-Asia FX: Beware (Bull) Traps & Turbulence 
• Mizuho Flash: 6 February 2023: Indonesia Q4 GDP: Understated Weakness
• Mizuho Flash: 2 February 2023: India Budget: Right, But Restrained, Notes
• Mizuho Flash: 30 January 2023: Vietnam CPI: Poised to Stay Higher
• Mizuho Flash: 19 January 2023: BI & BNM - Of Surprises, Holds & Hikes
• Mizuho Flash: 18 January 2023: Indonesia & Malaysia: December trade Data Portends a Growth Slowdown
• Mizuho Flash: 9 January 2023: Thailand: Vaccination for Tourists - Interference, Not Impediment
• Mizuho Flash: 23 December: China Outlook: Bumpy, Not Unbridled, Recovery
• Mizuho Flash: 1 December 2022: India Growth-Speed Bumps Ahead
• Mizuho Flash: 14 November 2022: ASEAN-3: A Show of Resilience
• Mizuho Flash: 25 October 2022: Vietnam-SBV: Restoring Confidence?
• Mizuho Flash: 11 Oct 2022 - Philippines: External Pressues Mount
• Mizuho Flash: 10 Oct 2022 - Malaysia: Budget 2023: Balancing Fiscal and Political Realities
• Mizuho Flash: 6 Oct 2022: Korea: Rising Debt, Rates and Risks
• Mizuho Flash: 4 Oct 2022 - Malaysia: Bugdet 2023: A Clear Election Bias
• Mizuho Flash: 23 September 2022: SBV: The Why and How Behind a 100bps Hike
• Mizuho Flash: 16 Sept Korea: Lower Unemployment Rate Flatters Employment Picture
• Mizuho Flash: 12 September 2022: EM-Asia: Sticky Rice Concerns
• Mizuho Flash: 5 September 2022: Indonesia: Fuel Prices Hiked 
• Mizuho Flash: 25 August 2022: Thailand: Political Instability, Economic Continuity
• Mizuho Flash: 23 August 2022: Bank Indonesia Embarks On Policy Normalisation 
• Mizuho Flash: 16 August 2022: Vietnam: Stronghold or Hold Out?
• Mizuho Flash: 27 July 2022: Thailand: Of Trade Deficit, Tourism Revival and Sticky Inflation
• Mizuho Flash: 21 July 2022: Bank Indonesia: Holding on for Dear (Dovish) Life 
• Mizuho Flash: 14 July 2022: Singapore: MAS' Surprise Step Appreciation
• Mizuho Flash: 14 July 2022: Philippines: Bangko Sentral ng Pilipinas in Overdrive
• Mizuho Flash: 13 July 2022: Bank of Korea: 50 Is Not The New 25
• Mizuho Flash: 05 July 2022: Philippines: Jump In June CPI Puts The Spotlight On BSP
• Mizuho Flash: 29 June 2022: Vietnam: Stellar Growth, Rising Inflation
• Mizuho Flash: 23 June 2022: Central Banks: BI Stands Pat While BSP Hikes By 25bp
• Mizuho Flash: 08 June 2022: Bank of Thailand: The Last Stand
• Mizuho Flash: 26 May 2022: Bank of Korea: "Big Step" Hikes?
• Mizuho Flash: 25 May 2022: Indonesia: Bank Indonesia Still Biding Its Time On Rate Hikes
• Mizuho Flash: 13 May 2022: Thailand Fiscal Updates: Hurdles
• Mizuho Flash: 11 May 2022: Malaysia: BNM Starts Reducing Monetary Policy Support With a 25bp Hike
• Mizuho Flash: 10 May 2022: Philippines Elections III: "Bongbong" Marcos to Be President
• Mizuho Flash: 06 May 2022: Thailand CPI: Easing is No Relief
• Mizuho Flash: 05 May 2022: RBI: The Hawk & The (Leap-)Frog
• Mizuho Flash: 20 April 2022: Bank Indonesia: Emphasizing Growth Over Inflation
• Mizuho Flash: 14 April 2022: MAS: Unwavering, Despite Uncertainty
• Mizuho Flash: 08 April 2022: RBI Hold: Of Inflection & Deflection
• Mizuho Flash: 06 April 2022: MAS Watch: Double-Barelled Move
• Mizuho Flash: 22 March 2022: Malaysia: Current Account, Fiscal and Inflation Sensitivities to Oil
• Mizuho Flash: 16 March 2022: South Korea: Public Sector Employment Boost, Caution Sene In Private Sector Hiring

 

Mizuho Chart Speak

• Mizuho Chart Speak: 7 November 2024: Vietnam: China+1 in the Crosshairs?
• Mizuho Chart Speak: 11 October 2024: Overdone (Forward) SGD Appreciation Expectations?
• Mizuho Chart Speak: 27 September 2024: AxJ FX: This Time It's Different(iated)
• Mizuho Chart Speak: 18 September 2024: Vietnam: Manufacturing FDI Unperturbed, Output Typhoon Hit
• Mizuho Chart Speak: 8 August 2024: Why CNY Carry Unwind is Not The Next Big Shoe
• Mizuho Chart Speak: 2 August 2024: Carry Unwind: Neither Carry Nor Calm
• Mizuho Chart Speak: 16 July 2024: AxJ Reversion Challenged
• Mizuho Chart Speak: 25 January 2024: China Stimulus: Why RRR Cuts Don't Cut (IT)
• Mizuho Chart Speak: 23 January 2024: China Equities: Why The Pain May be More Accute This Time
• Mizuho Chart Speak: 17 January 2024: Global Inflation: Dis-inflation Risks: Interrupted, Not Immaculate
• Mizuho Chart Speak: 26 October 2023: Inflation Relief & Risks: The Good, The Bad & The Ugly
• Mizuho Chart Speak: 23 October 2023: FX: MYR: Curious Connundrum
• Mizuho Chart Speak: 16 October 2023: Oil: Watch for Geo-political Flares
• Mizuho Chart Speak: 4 October 2023: Why the Absence of Credit Tightening is Still Worrying
• Mizuho Chart Speak: 3 October 2023: Oil: US Pain Relief, Panacea
• Mizuho Chart Speak: 2 October 2023: MAs & SGD: Currency of A Hawkish Hold
• Mizuho Chart Speak: 13 September 2023: Oil - The OPEC Squeeze
• Mizuho Chart Speak: 24 August 2023: EM-Asia: The Price of Rice
• Mizuho Chart Speak: 8 August 2023: EM-Aisa RIsks: The Real RIsks with EM Aisa Policy and FX
• Mizuho Chart Speak: 18 July 2023: Re-Thinking Inflation (Part 1): Structurally Stickier?
• Mizuho Chart Speak: 3 July 2023: EM-Asia FX: Remembering CNH & AXJ Correlations
• Mizuho Chart Speak: 26 June 2023: Korea Trade and Services: Tight Balance
• Mizuho Chart Speak: 14 June 2023: China RIsks - Why PBoC Cuts Don't Cut It
• Mizuho Chart Speak: 12 June 2023: USD Liquidity: Swapping (Debt) Ceiling Risks for Liquidity Crunch
• Mizuho Chart Speak: 6 June 2023: Global Demand: Silver-Lining or Red Herring?
• Mizuho Chart Speak: 24 May 2023: China Bulls & CNH Bears: The Re-opening Paradox
• Mizuho Chart Speak: 23 May 2023: Vietnam: Crunch Time
• Mizuho Chart Speak: 17 May 2023: China: Manufacturing Pain
• Mizuho Chart Speak: 25 April 2023: Korea: Chips at Stake
• Mizuho Chart Speak: 13 April 2023: EM-Asia FX: "Carry" On, But Calm Not Guaranteed
• Mizuho Chart Speak: 6 April 2023: MAS: Constrained Options & Compromised Outcomes
• Mizuho Chart Speak: 4 April 2023: OPEC+ Cuts: Shock or Shrug?
• Mizuho Chart Speak: 23 February 2023: Why Oil Is Softer, Yet Sticky
• Mizuho Chart Speak: 3 February 2023: Understated EM-Asia Risks
• Mizuho Chart Speak: 17 January 2023: Korea: Tightened (Policy), Tight (Labour Market), Growth Slowdown
• Mizuho Chart Speak: 12 January 2023: Why CNH May Not Exploit Untapped Real Yield Advantages
• Mizuho Chart Speak: 6 January 2023: Philippines Inflation Introspection
• Mizuho Chart Speak: 11 November 2022: Fed-EM Asia: Inflation: Concessions, Not Conclusions
• Mizuho Chart Speak: 11 November 2022: Korea Current Account Oscillation Not Reversion
• Mizuho Chart Speak: 27 October 2022: Fed-EM-Asia: Central Bank Risks: Of Canaries & Collateral Damage
• Mizuho Chart Speak: 20 October 2022: Fed-USD: Exceptional USD Strength & Endogenous Risks
• Mizuho Chart Speak: 17 October 2022: SBV-VND: Wider Bands About USD Exceptionalalism, Not VND Merchantilism
• Mizuho Chart Speak: 13 October 2022: Thailand: Of Deficits and Slippery Moving Parts
• Mizuho Chart Speak: 13 October 2022: MAS-SGD: Dissociating MAS Hawks & SGD Bulls
• Mizuho Chart Speak: 17 October 2022: SBV-VND: Wider Bands About USD Exceptionalism, Not VND Mercantilism 
• Mizuho Chart Speak: 11 October 2022: FX: Differentiating, Not Defining, Stress
• Mizuho Chart Speak: 15 September 2022: EM-Asia FX (Part 1): Peculiar, Not Different
• Mizuho Chart Speak: 6 September 2022: Can CNY Defy the Dollar (Bull)?
• Mizuho Chart Speak: 7 September 2022: OPEC+ Cut: Insignificant, Not Inconsequential
• Mizuho Chart Speak: 16 August 2022: China: Overestimating Stimulus?
• Mizuho Chart Speak: 10 Aug 2022: OPEC+: Capacity, Not Quota Constraints 
• Mizuho Chart Speak: 04 Aug 2022: EM Asia FX Risks (Part 2): Cash Burn Conundrum
• Mizuho Chart Speak: 20 Jul 2022: EM Asia FX Risks (Part 1): Overblown, But Not Obviated
• Mizuho Chart Speak: 24 Jun 2022: Oil: Why Oil is a Binary Risk
• Mizuho Chart Speak: 22 Jun 2022: South Korea: Headwinds Manifest
• Mizuho Chart Speak: 17 Jun 2022: EM Asia: Bracing For Fed Headwinds
• Mizuho Chart Speak: 10 Jun 2022: EM Asia: Inflation Shocks to Overtake?
• Mizuho Chart Speak: 01 Jun 2022: EM Asia: Stagflation-Type Risks Mount
• Mizuho Chart Speak: 30 May 2022: Vietnam Inflation: Running Out and Up?
• Mizuho Chart Speak: 10 May 2022: Mizuho FX Update: Why Fed Hawk-USD Bulls May Not be Exhausted
• Mizuho Chart Speak: 06 May 2022: Fed & EM Asia: The Fed's Tightening: Re-arranging the Deck Chairs on the Titanic
• Mizuho Chart Speak: 26 April 2022: Indonesia: Palm Oil Pressure
• Mizuho Chart Speak: 22 April 2022: Fed & AXJ: Why Yield Curve Inversion Risks are Compromised as "Fed Circuit Breaker"
• Mizuho Chart Speak: 13 April 2022: MAS & SGD: Why Mas Hawks Need Not Inspire Unqualified SGD Bulls
• Mizuho Chart Speak: 12 April 2022: EM Asia: EM Asia's Direct Russia Connection Is Limited
• Mizuho Chart Speak: 05 April 2022: Vietnam: Inconvenient Coal-Powered Engines of Growth
• Mizuho Chart Speak: 16 March 2022: China: China's Policy Risk is "Too Little, Too Late"
• Mizuho Chart Speak: 10 March 2022: EM Asia FX: Oil's Domination & (Fractional) Distillation