CNBC: Economist explains Chinese central bank’s caution over monetary policy

Philippines concerns about future real income drag on consumption

Private consumption growth in the Philippines has slowed to its lowest rate since 2010 outside the pandemic period. The main culprit is worsening confidence, which has been hit particularly hard by persistent inflation. Although inflation should subside later in the year, the impact on consumer sentiment will take time to feed through, so we don't expect a substantial boost in spending this year.

APAC Global Construction Outlook Chartbook

Discover the latest insights into the upgraded global construction outlook with our exclusive chartbook. Delve into visual representations of key data points and trends to gain a comprehensive understanding of the industry's growth trajectory in 2024 and beyond.

Japan’s BoJ will start reducing JGB purchases in August

The enduring appeal of US Treasuries to Japan’s investors

Some market participants are raising concerns over a fall in demand for US Treasuries from Japanese investors amid higher domestic yields. But we think that there will continue to be a large and stable investor base in Japan for US Treasuries due to the still-large yield gap. Also, uncertainty over the Bank of Japan's monetary policy is dissuading investors from increasing their holdings of Japanese government bonds.