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Emerging Markets
Emerging-market companies at risk with US$400 billion of debt due
Emerging corporates have so far in 2023 defaulted on US$26 billion of debt
October 29, 2023
Tong's Portfolio
Punch bowl taken away, the party is ending
For the longest time, investors remained convinced that the US Federal Reserve would cut interest rates sooner rather than later.
October 12, 2023
China Focus
China must avoid a debt-deflation spiral
China urgently needs to avoid entrenched deflationary expectations akin to what happened in Japan after the 1980s
September 20, 2023
Bonds and treasuries
Examining Singapore's unrated credit market
The Singapore dollar credit market is also the third largest market in Southeast Asia by total amount outstanding
May 03, 2023
Bonds and treasuries
Rate hikes coming out of the shadows
We expect credit dispersion to increase for both issuers and issues
April 05, 2023
Tong's Portfolio
Valuation of companies is ultimately about cash generation, not accounting profits
Globally, inflation is at a multi-decades high and looking to be stickier than most have expected.
March 09, 2023
Tong's Portfolio
Can government addiction to debt, almost the world over, be reversed?
Debt serves a crucial economic function.
October 13, 2022
China Focus
Chinese conglomerate Fosun under scrutiny as bonds, shares slide
The group’s businesses span everything from Club Med to French fashion house Lanvin and the exclusive distributor of BioNTech SE
September 14, 2022
Bonds and treasuries
Corporate bond market didn’t get the recession memo
The primary bond market looks like another reason to believe that the economy still has a bit more vitality than some investors ac
August 04, 2022
Sharing Economy
Singapore at 57: Looking ahead with confidence
To face the future in good shape, Singapore needs to address its structural issues
August 04, 2022