Tracking second-round inflation effects from oil, and a second round of USD strength. In the US, we examine the latest inflation clues, the Fed outlook and the coming payrolls report. In Europe, we preview the central bank gathering in Sintra, the ECB outlook and June inflation data. In Japan, we look at key activity data and policy developments, both monetary and fiscal. Across Asia, we preview PMI data in China and activity and inflation data in Korea. Chapters: US: 2:19, Europe: 08:44, Japan: 18:16, Asia: 17:27.

New Fed Chair Warsh moved markets meaningfully – we discuss how to think about US monetary policy from here. Kevin Warsh's first FOMC meeting as Chair caused a big reaction in markets; we outline what to expect from US monetary policy from here. In Europe, we look at the increasing divergence in our ECB and Bank of England rate calls. In Asia, we discuss Bank Indonesia's recent hikes and the upcoming Bank of Thailand decision. Chapters: Rates Special: 01:53, US: 08:18, EMEA: 20:29, Asia: 24:18.

Dr. Leslie Teo, one of our eminent speakers at the Nomura Investment Forum Asia (NIFA), discusses all things AI. Dr. Leslie Teo talks about his views on where economic value from AI is created over the long term and the monetization of large AI capex… as well as his thoughts on productivity gains to boost economic growth and where things stand on the 'job apocalypse" debate.

This week, we expect on-hold decisions by the Fed, BOE, SNB, Riksbank, Norges Bank, RBA and BI, but hikes by BOJ, BSP and CBC. We expect the Fed, BOE, SNB, Riksbank, Norges Bank, RBA and BI to all keep policy rates unchanged. By contrast, we see the BOJ, BSP, and CBC as likely to hike at a measured pace. Statements will be non-committal across the board, and all eyes on Fed Chair Warsh who will likely try to be balanced. Chapters: US:1:53, UK:9:05, Japan:14:54, Asia:14:59.

Eminent speakers at the Nomura Investment Forum Asia – Dr. Ng Eng Hen and Sir Richard Moore – discuss geopolitics, US-China relations, and the Middle East conflict. Dr Ng Eng Hen, formerly Singapore's Defence Minister, shares his thoughts on shifts in US policies and the implications for Asia. Sir Richard Moore, senior strategist at Sixth Street and former MI6 chief, weighs in on prospects of a long drawn-out war in Iran.

Uncertainty in the Middle East continues, as key central bank meetings approach.

• In the US, we examine the resilience of the economy and preview the upcoming CPI report.
• In Europe, we review recent inflation data and explain why we expect an ECB rate hike next week.
• In Japan, we preview the Q1 GDP report and take a close look at the BOJ.
• Across Asia, we share our take on key data coming out in Japan and China, touch on the Trump/Xi meeting and preview the central bank meeting in Indonesia next week.

Chapters: US: 01:57, Japan: 11:56, Asia:15:50, Europe: 16:47.

We discuss the economic impact and investment opportunities of geopolitical transitions, China shock, and the AI revolution reshaping Asia.

At the sidelines of Nomura's Investment Forum Asia (NIFA) in Singapore, we highlight key takeaways from our new anchor report "Asia Rewired." Shifts like the AI revolution and trade realignment are rewiring Asia, creating winners and losers as well as investment opportunities. China, Malaysia, South Korea, Australia, and Singapore stand to benefit the most, while lower-income economies face some challenges.

This week, geopolitical tensions may be cooling but the fallout is rising with growth, inflation and central bank reactions evolving rapidly.

We look ahead to the US labour market data and the ongoing hawkish shift in Fed communications. In Asia, we preview the RBI's next meeting and look ahead at inflation data around the region. In Europe, we discuss what factors – such as inflation expectations – could shift our views on the ECB and BoE. Chapters: US: 2:27; Asia: 11:01; Europe: 17:09;

This week, after a sharp rise in global bond yields, we await key inflation data in the US and Euro area, and discuss the fallout in Asia. We preview US core PCE and Euro area inflation, discuss a change in our Fed forecasts, and update on UK politics. In Asia, we preview decisions by the BOK and RBNZ, as well as core inflation in Singapore. And, in a special segment, Albert Leung, our Head of Asia rates strategy, discusses rising global bond yields and opportunities in Asia. Chapters: US: 2:10; London: 11:02, Asia: 16:50; Special Market Segment: 23:51

This week, in the US, we examine the health of the consumer and the challenges facing incoming Fed Chair Kevin Warsh. In Europe and the UK, we examine UK politics, key incoming data and ECB communication. In Japan, we discuss economics and geopolitics, with the visit from US Treasury Secretary Scott Bessent this week. Across Asia, we share our take on key data coming out in Japan and China, touch on the Trump/Xi meeting and preview the central bank meeting in Indonesia next week. Chapters: US: 2:08; Europe: 7:34; China: 13:07; Japan: 17:41; Asia: 22:04; Australia: 26:14