Records, rate cuts and the yen’s reckoning

Markets are sending mixed signals, and this episode of Market Focus Weekly, a podcast from The Business Times, connects the dots that headlines miss. Correspondent Howie Lim sits down with Arun Sai, senior multi-asset strategist at Pictet Asset Management, for a conversation that goes far beyond surface-level takes.

Why listen

• The Fed debate isn’t as settled as it looks Everyone’s celebrating tame inflation data, but Arun challenges the consensus, unpacking why “boring” prints matter for bond markets and whether investors are getting ahead of themselves on rate-cut bets.

• The yen’s fate hinges on one overlooked factor Intervention headlines grab attention, but Arun explains why the real turning point for the yen isn’t about central bank action at all — it’s about capital flows most investors aren’t watching.

• AI’s next phase will create winners and losers The AI trade is evolving fast. Arun breaks down why the “rising tide lifts all boats” era is over, and why single-stock dispersion — not broad exposure — will define returns from here.

• Asia’s resilience has a catch From Thailand’s slowdown to South Korea’s wild swings, Arun reveals the K-shaped pattern running beneath Asia’s growth story, and why some economies are far more exposed than others.

• Oil, war, and the number that actually matters Geopolitical risk headlines cause noise, but Arun cuts through it with a specific price threshold that would signal real trouble for the global economy.

Catch every nuanced call before markets move — insight you won’t get from skimming summaries. Listen now.

Discover more episodes at bt.sg/podcasts. Got feedback? Email us at btpodcasts@sph.com.sg.

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Written and hosted by: Howie Lim (howielim@sph.com.sg)

With Arun Sai, senior multi asset strategist at Pictet Asset Management

Edited by: Howie Lim & Claressa Monteiro

Produced by: Howie Lim & Chai Pei Chieh

A podcast by BT Podcasts, The Business Times, SPH Media

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