#Market Strategy — 11.09.2023


Prashant Bhayani, Chief Investment Officer, Asia

CIO Weekly Podcast: Connect every Monday morning to stay updated on what happened in the global and Asian markets last week and what to expect next.

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New buying opportunities in US Treasuries: Upgrading US government bonds from Neutral to Overweight

In today's episode, Prashant Bhayani explains why, for the first time in many years, we are upgrading US government bonds from neutral to overweight.

Prashant Bhayani, CIO Asia


China Politburo Meeting - When low expectations meet targeted stimulus

Prashant Bhayani addresses the key takeaways from the recent China Politburo meetings in today's episode. What the meetings assigned is largely in line with our expectations, he says.

Prashant Bhayani, CIO Asia


Are We Finally Seeing the Global Economy Slow?

For the first time in 15 months, US non-farm payrolls missed expectations last Friday, coming in at +209k instead of +225k. Prashant Bhayani discusses recent data points that may reflect the state of the global economy..

Prashant Bhayani, CIO Asia


Cash is Not King! Can that Really be the Case?

The uncertainty on interest rates and the economy has many investors sitting on hefty cash positions; however, according to Prashant Bhayani, CIO Asia, holding too much cash can be costly going forward.

Prashant Bhayani, CIO Asia


With the Fed, it is the Path Already Trodden that Matters

Prashant Bhayani discusses our expectations for Fed rate hikes (or not) through the end of the year and 2024. The rate rise progression is about the path not just the destination, he says.

Prashant Bhayani, CIO Asia


Differences in Bank Regulation Drives Opportunities in Selected Quality European Financial Bonds

How are the US and #EU #banks impacted by their different regulations? And how does this present opportunities in certain quality European financial #bonds?

Prashant Bhayani, CIO Asia


Differences in Bank Regulation Drives Opportunities in Selected Quality European Financial Bonds

Prashant Bhayani outlines how the EU banks benefit from better regulations and why investors should focus on high-quality, senior bonds from the financial sector.

Prashant Bhayani, CIO Asia


Japan - Land of the Rising Stock Market

Japanese equities have been on our recommendation list since last November because we believe it’s an underappreciated market in general. In this second podcast on the topic, Prashant Bhayani revisits the case for Japan.

Prashant Bhayani, CIO Asia


Volatility Creates Opportunity…End of the Synchronised World

The end of zero and negative interest rate policies in developed countries has led to different macro trends and patterns across the world. In this week’s podcast, Prashant Bhayani shares how to look for investment opportunities

Prashant Bhayani, CIO, Asia


Continue to Fade Dollar

In this week's podcast, Prashant Bhayani shared insights on why we continue to underweight the dollar and arguments on why to fade any potential dollar bounce as it is losing momentum.

Prashant Bhayani


After the Volatility, Refocus on IG Bonds

In this podcast, Prashant Bhayani explains our refocus on investment grade bonds after the recent volatility and why the market offers good opportunities for progressively building positions.

Prashant Bhayani, Chief Investment Officer, Asia


Revisit - Why invest in China now?

China stands out in its economic cycle from the rest of the world as its economic policy is easing not tightening. This is important for portfolio construction, says Prashant Bhayani.

Prashant Bhayani, Chief Investment Officer, Asia


Japan Land of Rising ROE? & Update US Bank Lending Data

Prashant Bhayani revisits the Japanese equity market, which he believes is often overlooked by global investors. He lists five reasons why investors should consider adding #Japan to their #portfolio allocation.

Prashant Bhayani, CIO Asia


Implications of the recent banking turmoil

Grace Tam discusses the latest developments and implications of the recent banking turmoil. Going forward, she says, we can expect tighter credit conditions as banks tighten lending standards and capital markets limit access to weak corporate borrow

Grace Tam, Chief Investment Advisor, Hong Kong


US authorities react swiftly to stem contagion risk from the SVB collapse

In today’s podcast, Grace Tam explains how a blessing became a curse for SVB, leading to its collapse, as well as the US authorities' swift response to mitigate the risk of contagion and its potential implications.

Grace Tam, Chief Investment Advisor, Hong Kong


First Reaction China Government Work Report

Prashant Bhayani provides his initial reaction to the China Government Work Report presented at this weekend's National People's Congress, focusing on the #policy priorities, GDP and employment targets.

Prashant Bhayani, Chief Investment Officer, Asia


Poor visibility on US soft-landing, no-landing or hard-landing. What to do?

Is the US economy headed for a “soft”, “hard” or “no” landing? Grace Tam, our Chief Investment Advisor Hong Kong, discusses the recent market developments and portfolio diversification options for investors.

Grace Tam, Chief Investment Advisor, Hong Kong


BOJ Policy Matters for Global Yields…..Last Central Bank Standing

As the first central bank to lead the move towards negative rates, quantitative easing and central bank intervention under Bank of Japan governor Kuroda, his impending retirement marks the end of an era.

Prashant Bhayani, Chief Investment Officer, Asia


We were early relative to consensus on a positive view on China equities. What do we think now?

Given the large rise in China equities in the past three months, what do we think now? Prashant Bhayani outlines six key reasons why the rally in China equities still has legs in the medium term. And he recommends investing in China equities

Prashant Bhayani, CIO Asia


After the Dollar weakness, What Do We Think Now?

After the largest USD rally in two decades, the dollar has dropped by 10% from its peak in September, with its year-to-date performance standing at -2.8%. What do we think now?

Prashant Bhayani, Chief Investment Officer, Asia


Our Asset Allocation Calls are Working….

Is the “Goldilocks” period back? Prashant Bhayani explains why both USD and investment grade bonds are rallying, and non-US equities are outperforming. Additionally, he provides our views on investment opportunities.

Prashant Bhayani, CIO, Asia


What do we think of China Reopening and Risks?

We had moved to a more optimistic view on China equities just a few months ago. However, events have moved more quickly than we expected. In today’s podcast, Prashant Bhayani analyses the policy decisions in the China.

Prashant Bhayani, CIO, Asia


2023 Market Outlook and Investment Themes

2022 was the worst year for a 60/40 balanced portfolio since the 1930s. What do we think about 2023? Prashant Bhayani discusses three key questions on everyone’s mind: How severe will any potential recession be? When will inflation peak?

Prashant Bhayani, CIO Asia


China Reopening Rally?

China Reopening Rally?

Prashant Bhayani, CIO Asia


Bonds are Back! We were correct on our timing to go Upgrade to go Overweight US Treasuries & US Investment Grade, What to do Now?

Prashant Bhayani outlines why high quality Asia hybrids can be looked at for income.

Prashant Bhayani


China Update on Covid and Property Measures

There now is an incremental reopening process underway and this is important, says Prashant Bhayani as he discusses the easing of Covid restrictions and the property market measures in China.

Prashant Bhayani, CIO Asia


FOMC Powell: Slower, Higher, For Longer

A downshift in the pace of hikes is coming soon but the Fed now expects a higher terminal rate than it projected earlier says Prashant Bhayani, as he shares key takeaways from the November FOMC meeting.

Prashant Bhayani, CIO Asia