FOREIGN EXCHANGE 4................................................. 2 1. 4.................. 3 4 10 2 PMDB PT 2................. 5 EU EU EU EU BOE Global Markets Research 2016 10 3 - NSC - NSC - NSC - NSC - NSC - NIplc 3.................................................... 7 Appendix A-1
Nomura 2016 10 3 9 5 ISM 8 51.4 2010 2 8 67 8 9 9 ISM 53.0 12 FOMC 7 9 FOMC 17.0 3 20 12 5 3 9 DI 4 DI DI 哨 2
Nomura 2016 10 3 1. 4 6 20 7 3.1 3.3 8 31 8 2012 10 4 1 BCB 9 27 2016 7-9 3.30 14.25 17 +4.416 4-6 4.7 11.00 3.4517 4.9 5.5 BCB 2 3.30 11.0017 +4.8 18 BCB +4.5BCB 17 17 BCB 2017 1 2 2 1: 15 14 13 12 11 10 9 8 7 6 5 4 Selic 3 IPCA '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 2016 9 23 :IBGE 2: 14.05 14.00 13.95 13.90 13.85 13.80 13.75 13.70 9 20167-9 1 2 5 6 8 9 121314151619202122232627282930 20169 2017 1 2 : 3
Nomura 2016 10 3 10 20 21 BCB (1) (2) BCB (1) (2) 10 2 PT PMDB PSDB PT PT PSDB PMDB 2 PMDB 10 2 4
Nomura 2016 10 3 2. EU 1.281.34 BOE 9 17 18 GDP 64% Gfk DI 2 03 3 9 5 8 EU 10 3 17 3 EU EU 50 EU 2 EU EU 19 3 EU EU EU EU EU BOE EU 4BOE 5
Nomura 2016 10 3 EU EU 23 EU 9 PMI 17 9 20 16 PMI 3: 60 () DI 40 DI 20 0 4: EU BOE ( -, ) 0-10 -20-30 -40-20 -40-50 -60-70 -60 () -80 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 :Gfk DI DI : : 6
Nomura 2016 10 3 3. 7
Nomura 2016 10 3 Appendix A-1 NSI NIP www.nomuranow.com/research IQMarkitHub http://go.nomuranow.com/research/globalresearchportal/pages/disclosures/disclosures.aspx (1-877-865-5752) grpsupport@nomura.com FINRA/NYSE NSI FINRA 2711 NYSE 472 NGFPNDPI plc NIplcNGFPNDPI NIplc NSI NSI NSI 3 3 1 NSC plc (NIplc) (NSI) (NIHK)( ) (NFIK) ((KOFIA) KOFIA http://dis.kofia.or.kr ) (NSL) ( 197201440E ) (NAL) (ABN 48 003 032 513) ( 246412(ASIC) P.T. (PTNI) Sdn. Bhd. (NSM) NIHK (NITB) () (NFASL) (: Ceejay House, Level 11, Plot F, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai- 400 018, India: +91 22 4037 4037: +91 22 4037 4111; CIN U74140MH2007PTC169116SEBI () BSE INB011299030NSE INB231299034 INF231299034 INE 231299034, MCX: INE261299034SEBI ()INM000011419SEBI ()INH000001014) NIplc (NIplc, Madrid)CNS (CNS) NSL NSFSPL (i)(ii) (iii) 8
Nomura 2016 10 3 () MSCI MSCI Inc.(MSCI)MSCI MSCI MSCI MSCI MSCI MSCI MSCI Russell/Nomura Frank Russell Company Frank Russell Company / 2 tactical 3 strategic 6 12 1933 1933 NIplc NIplc NIplc NIHK ASIC NAL NSM NSL NSL 289 NSL 1933 S NSI NSI 1934 15a-6 NIplc UAE 9
Nomura 2016 10 3 UAE UAE UAE (i) (ii) S&P S&P http://www.standardandpoors.co.jp http://www.standardandpoors.co.jp/unregistered S&P S&P S&P 28 5 18 https://www.moodys.com/pages/default_ja.aspx 10
Nomura 2016 10 3 28 5 18 https://www.fitchratings.co.jp/web/ 28 5 18 https://www.nomura.co.jp/retail/bond/noregistered.html 1.40420 2,808 REIT ETF ETN 1.40420 2,808 REIT ETF 1.026 75 7,668 1.40420 2,808 30 30 3.3 1.084,320 4,320 1 10 2 0.79685 5 3 2 0.79685 35 17 5.4 2.0 11
Nomura 2016 10 3 5.4 CDSCDS CDS CDS 10,800 () 142 / http://go.nomuranow.com/research/globalresearchportal/pages/disclosures/disclosures.aspx Copyright 2016 Nomura Securities Co., Ltd. All rights reserved. 12