Kelvin Tay
Nervous about an October crash? Diversify your AI exposure
Investors are primarily concerned about sluggish productivity growth despite the growing momentum of artificial intelligence
China’s anti-involution campaign gains momentum
The authorities are addressing the excessive price competition that is leading to diminishing returns, while also seeking to manage capacity expansion
Faltering US exceptionalism and the implications of higher Treasury yields
No country has an unlimited capacity to carry debt. Past rating downgrades point to the US having run out of its extra...
This time is different: More downside risks unless US reduces tariff rates
Overall growth in Asia could fall to 4% in 2025, down from 5.1% last year, with the trade-driven economies of North Asia,...
Volatility set to rise in year of wood snake; investors should diversify
Since 1920, the Year of the Snake has been the worst performing of the twelve zodiac animals
Five ‘Ds’ raise risks and opportunities for investors
Deglobalisation, debt, demographics, decarbonisation and digitalisation are key trends to watch
China’s stimulus package holds promise
Slow, painstaking improvement is probably the only way the country’s property market and local government debt are ever going to right themselves
The case for structurally higher inflation – and its impact on rates and portfolios
The persistent shift away from globalisation, among other forces, will make policymakers more willing to tolerate inflation overshoots
Japan stock market needs buy-in by domestic institutions, investors
Cheap yen and negative interest rates have been a big driver of the country’s equities performance, but these conditions are set to...
Brace for a volatile ride in the Year of the Dragon
This year should be positive for both bonds and equities; it is an opportune time to add high-quality bonds
