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Nomura says global volatility may last for years amid AI, geopolitics
The bank-linked view ties recent swings in markets to crowded trading and leverage as investors chase potential AI productivity gains.
Wealthy investors should expect higher market volatility to persist for years, according to Julia Wang, North Asia chief investment officer at Nomura International Wealth Management, speaking to the South China Morning Post.
Wang said that uncertainty around artificial intelligence development and ongoing geopolitical risks are key drivers behind the “roller coaster” behavior in asset prices seen in recent years, including sell-offs involving semiconductor shares and US Treasuries.
She added that volatility has also been influenced by structural changes in markets over decades, and that AI-related expectations for productivity-led gains have contributed to crowded trading and leverage, which she said are often followed by sell-offs.