2016 FIXED INCOME OUTLOOKMODERATE VALUE AMIDST SPECTRE OF RATE HIKES
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We view that current fears have been priced into the financial markets and thus reduces the likelihood of a market crisis. Moreover the US economic and financial rehabilitation are well advanced and a stronger US economic expansion could come in 2016. There are also positive signs of a turnaround in the developed and emerging Asia economies.
Here are some key take away on the market
The trajectory of US and Eurozone growth recovery is intact. The US has been generating close to 200,000 jobs so far in 2015, steadily removing the labour market slack and contributing to the improvements in consumer sentiment and helping the US housing market recovery. Eurozone should also see growth at a fairly healthy clip for 2016, evident in the purchasing manager index readings and strengthening loan growth.
We view the situation in emerging Asia to be far stronger now as the countries’ external stability is anchored by high foreign reserves and healthy balance-of-payments. Internal stability, on the other hand, should be maintained with sound banking system, a functioning bond market and stable fiscal position.
BIOGRAPHY
Chief Investment Officer, Fixed Income
Boon Peng joined Eastspring Investments as Chief Investment Officer, Fixed Income in July 2007.
He is responsible for overseeing the management of the firm’s fixed income strategies. He is also the lead Portfolio Manager for Eastspring’s Global Bond, Hong Kong and Japan bond portfolios.
Boon Peng has 28 years of investment experience. Prior to joining Eastspring Investments, Boon Peng was Chief Investment Officer and Executive Director at UOB Asset Management, Alternative Investments. Prior to that, he was the Head of Fixed Income at Fullerton Fund Management Company. Boon Peng also spent 15 years with the Monetary Authority of Singapore (MAS) including seven years managing funds out of the MAS New York Office.
In 2014, Boon Peng was conferred the title of “IBF Fellow” by the Institute of Banking and Finance of Singapore. This honour is aimed at recognising industry veterans who have demonstrated mastery of a profession and exemplify thought leadership and commitment to industry development. He was also named CIO of the Year in Asia Asset Management’s Best of the Best Regional Awards 2014.
Boon Peng holds a Bachelor of Science (Building) degree from National University of Singapore and is a CFA charterholder
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