The bond riddle: Finding yield in volatile fixed income
How will credit risk, the AI capex bubble, and other risks affect your fixed income portfolio? Howie Lim finds out.
As the Year of the Horse ‘hoofs’ into view, fixed income is doing its best impression of a rodeo. Rates have stopped sprinting in one direction, but that doesn’t mean bond investing has suddenly become a soothing spa day.
In the latest episode of Money Hacks, a podcast by The Business Times, Howie Lim digs into the hunt for reliable, high-quality yield.
She’s joined by Goh Rong Ren, portfolio manager for fixed income at Eastspring Investments, to make sense of what retail investors are facing in 2026. Because inflation isn’t neatly behaving and an AI capex boom is propping up sentiment, even as questions about returns on that spending get louder.
Why listen
- SSBs: still a foundation, but not the whole house Goh explains why Singapore Savings Bonds (SSBs) remain useful for safety and flexibility, but why relying on them alone may not meet longer-term income needs.
- The biggest fixed income misconception that costs people money Bonds are safer than stocks, yes. Risk-free, no. The episode unpacks why investors panic when bond funds dip, and how chasing yield without understanding duration and credit risk can backfire.
- Why “junk bonds” aren’t junk, and how to think about them Goh challenges the label, arguing the step from investment grade to high yield isn’t a cliff. High yield can play a role, but as “seasoning”, not the main dish.
The conversation also gets practical about currency risk. Goh lays out straightforward ways to think about hedging or diversifying. And if you’ve ever thought, “I’ll just buy one bond and skip the fees”, he has a sharp line for you: one bond is a bet, a fund is a portfolio.
Listen now.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
Money Hacks is the flagship personal finance podcast from The Business Times. Catch past episodes at bt.sg/podcasts. Have a burning question or episode idea? Email the team at btpodcasts@sph.com.sg.
---
Written and hosted by: Howie Lim (howielim@sph.com.sg)
With Goh Rong Ren, portfolio manager, Eastspring Investments
Edited by: Howie Lim & Claressa Monteiro
Produced by: Howie Lim & Chai Pei Chieh
A podcast by BT Podcasts, The Business Times, SPH Media
---
Follow BT Money Hacks podcasts every Monday:
Channel: bt.sg/btmoneyhacks
Amazon: bt.sg/mham
Apple Podcasts: bt.sg/oeXe
Spotify: bt.sg/oeGN
YouTube Music: bt.sg/mhyt
Website: bt.sg/moneyhacks
Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice.
---
Discover more BT podcast series:
BT Correspondents: bt.sg/btcobt
BT Market Focus at: bt.sg/btmktfocus
BT Podcasts at: bt.sg/pcOM
BT Lens On: bt.sg/btlenson
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
ABOUT THE PODCAST
Money Hacks is a crisp, weekly podcast hosted by Howie Lim. Every Monday, it unpacks personal finance strategies and investing insights through conversations with expert guests. Whether it’s navigating employee perks, finding resilient sectors, or exploring value-based investing, listeners get actionable financial wisdom without the waffle.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Asean+3 has made strong progress on cross-border payment connectivity, but more work lies ahead
Indonesia targets year-end start for US$30 billion clean power exports to Singapore
Seatrium surge leads Singapore stocks slightly higher on Tuesday; STI up 0.1%
