A monthly review and outlook of the Asian Quality Bond market.

Key highlights - as at August 2016   


  • The US Fed Chairman Janet Yellen stated that recent developments had been a little more positive and even though economic growth has not been rapid, it has been sufficient to generate further improvement in the labour market.
  • Moving well into the second half of 2016, the uncertainty around growth outlook is set to heighten hot on the heels of the UK BREXIT vote.
  • Eurozone’s economy has been resilient this year, underpinned by strong domestic demand amid easy monetary policy, low oil and commodity prices and improving labour markets.
  • We see Asian credit valuation as fair at this juncture factoring in the narrowing spread premium versus US peers, weakening trend in credit metrics and an uncertainty global growth outlook.
  • We remain positive on Asia’s longer-term fundamentals and its ability to ride through this period of uncertainty.




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