Commentary

Asian bonds, currencies power ahead

Fertile ground for high-quality gains as US dollar strength and trade war likely to ease

The United States spent much of last year exceeding expectations. Growth was stronger than expected. Interest rates rose more rapidly than expected, leading to a stronger-than-anticipated US dollar.

In combination, these factors have created much angst for Asian bond markets, resulting in negative performance.

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A version of this article appeared in the print edition of The Straits Times on January 07, 2019, with the headline 'Asian bonds, currencies power ahead '. Print Edition | Subscribe