SHARE THIS The US Treasury (UST) yield curve flattened in November. Risk markets rallied after the US presidential election. Investor confidence was lifted following positive trial results of a COVID-19 vaccine. Yields subsequently retracted part of...
SHARE THIS The Japanese equity market has posted impressive gains as 2020 draws to a close, with the Nikkei Stock Average reaching a near three-decade high, and we assess the rise from a long-term perspective. We also analyse how Japanese equities have...
SHARE THIS The US Treasury (UST) yield curve steepened in August. Yields initially traded in a tight range but experienced an abrupt rise mid-month, pushed higher by the uptick in the US July inflation readings and the US Treasury's outsized refunding...
SHARE THIS Yoshihide Suga, Japan’s new prime minister, is widely expected to retain his predecessor’s fiscal and monetary policies known as “Abenomics”.
SHARE THIS The Covid-19 pandemic has accelerated the adoption of internet-based healthcare services. Growing in importance, penetration and acceptance, telemedicine will revolutionise and augment Asia’s healthcare systems.
SHARE THIS We believe our active approach to credit investing allows us to better serve clients, as indiscriminate waves of downgrades following the turbulence that has rattled global financial markets this year presents us with compelling...
SHARE THIS The third quarter of 2020 corresponded to a continued recovery of all emerging markets (EM) debt segments, albeit at a slower pace compared to the second quarter. The market’s positive momentum faded in July and August and a mild...
SHARE THIS We are a team of experienced investment professionals with a belief that a collective approach to picking stocks and active portfolio management will produce the best results for clients.
SHARE THIS We continue to believe that Asia's local government bonds are positioned to perform decently, supported by accommodative central banks amid an environment of benign inflation and moderating growth.
SHARE THIS The RBNZ's interest rate cut in May was viewed as a hawkish reduction, with the central bank seen moving closer to the point at which it will consider pausing the cycle to observe the benefits the current monetary policy settings can bring...
SHARE THIS Markets, while volatile, have continued to recover, and we are now seeing an easing of trade tensions. However, in these uncertain times, one thing remains clear—uncertainty itself. The situation remains fluid, and against such a background...
SHARE THIS We discuss how growing calls to reduce Japan's consumption tax rate provide a chance to focus on how consumption can be stimulated, potentially triggering a secular change in spending behaviour; we also assess the recent surge in super-long...
SHARE THIS With a new economic regime potentially taking shape, we believe that now is an opportune time to consider an active global fixed income approach to navigate what is likely to be a prolonged period of uncertainty.
SHARE THIS We can expect more aggressive policy support from Chinese authorities over the next several months for consumption and business activities, prompted by the still uncertain global trade situation. Despite the ongoing volatility and...
SHARE THIS In a key development for New Zealand’s fixed income market, official figures suggest that the Reserve Bank of New Zealand has won its fight against inflation. We feel that the victory has come at a cost, however, given the significant impact...
SHARE THIS Amid the challenges facing China's property market, work is well under way to restore confidence in the housing sector. It remains an uphill task for both Beijing and the country's property groups, but there are signs of renewed investor...
SHARE THIS The US tariff-induced turmoil could slow the pace of the Bank of Japan’s rate hikes, but the cycle of wages and prices, which has made the central bank confident about monetary tightening, is expected to remain intact over the longer term.
SHARE THIS We discuss the implications of the expansive new tariffs unveiled by the US and explore the effects on markets, consumer sentiment and potential future outcomes from a Japanese market perspective.
SHARE THIS Despite a retreat from sustainability initiatives in the US, the sustainable bond market, particularly green bonds, remains strong globally due to continued investor demand, attractive bond yields and increasing participation from countries...
SHARE THIS With the US “exceptionalism” narrative fading, we see value in global diversification. We observe potential turning points in Europe and China equities that may serve as opportunities to diversify global portfolios. Volatile market...
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