Top-10 macro investment strategies for 1H2020
- Investors would look for value in emerging markets, reducing DM exposure
- Watch out for a US 2Y/10Y steepening trade once spreads compress to 15bps
- Short-term Indian govvies look cheap; ample liquidity to support SGD rates
- USD sell-off to lose steam; CNY rally to phase out
- Stretch for duration in Chinese investment grade credit
• Theme 1: With no major economic catalysts in the pipeline, investors would look for value in emerging markets, reducing DM exposure
• Theme 2: Watch out for a US 2Y/10Y steepening trade once spreads compress to 15bps
• Theme 3: Short-term Indian govvies look cheap
• Theme 4: Ample liquidity to support SGD rates
• Theme 5: USD sell-off to lose steam
• Theme 6: CNY rally to phase out
• Theme 7: Holding back SGD optimism
• Theme 8: Stretch for duration in Chinese investment grade credit
• Theme 9: Oil downside limited at USD65
• Theme 10: Set for growth in gold investment
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