Fullerton Insights

Asian fixed income is steadily gaining recognition as one of the few asset classes where both structural evolution and cyclical dynamics are reshaping the outlook for returns, diversification, and policy flexibility.

Iran-Israel conflict thus far confined to oil markets. Risk appetite well-behaved. Near-term impact from geopolitical shocks tend to be transient.

There are (still) alpha opportunities to extract against a volatile backdrop from Trump's "Reciprocal Tariffs"

“Reciprocal Tariffs” may accelerate policy easing in Asia. Asian credit fundamentals remain relatively healthy. Domestically-oriented areas may be preferred.

Trump's "Retaliatory Tariffs" sparks risk-off. A re-shape in global trade relations is underway, that will give rise to relative winners and losers.