As foreign exchange traders shift their books to bet on interest-rate cuts, the Philippine peso looks set to emerge as a winner: historically it’s been the least affected by monetary easing among Southeast Asian currencies.

Philippine peso looks to race ahead in Southeast Asia once rate cuts begin

(May 26): Markets are largely in the green on Friday but strategists warn there’s still a prospect of US debt-ceiling negotiations breaking down over the weekend, or result in draconian spending cuts that crimp global economic growth.

Market optimism over debt deal may pave way for Monday selloff

The Singaporean dollar surged to the strongest level on record against the Malaysian ringgit, with the ringgit suffering more from weakening confidence in China’s economic recovery.

Singapore dollar at record high versus ringgit on China worries

Foreign investor purchases of Thai bonds reached a six-month high ahead of the country’s election, helping the baht cement its position as Asia’s top performer in May.

Overseas funds bought US$747 million (RM3.33 billion) of Thai bonds on Tuesday (May 9), the most since November, and taking their purchase this month to US$1.5 billion, according to official data. That helped boost the baht to the top of the Asian currency ranking this month.

Global funds rush into Thai bonds ahead of weekend election

Lynas Rare Earths Ltd’s shares surged after Malaysian authorities granted a six-month extension to the Australia miner to get its rare earths plant in line with environmental requirements.

Lynas surges after rare earths plant wins Malaysian extension

(April 30): Emerging-market bulls betting that China’s reopening would drive a year of asset outperformances are seeing their dreams turn into dust.

China reopening party over as emerging markets slip back to void

Tension is building over the US debt ceiling, spurring investors as far away as Asia to prepare for the worst — even if a resolution is the base case and US markets will take the first hit from any potential default.

Strategists have begun to tell clients ways to position for the fallout, pointing to 2011 when S&P Global Ratings downgraded the US credit rating as negotiations became deadlocked. The playbook includes betting on the traditional havens of the yen, gold and Swiss franc, as well as more creative trades such as going long on the Indian rupee and South Korean bonds.

The Asia trader’s strategy guide to playing US debt-ceiling debate

Global funds are ditching Thailand’s bonds due to political risks before next month’s election, but history suggests they may soon come rushing back.

Overseas investors have offloaded a net US$750 million of Thai debt this month, the biggest selloff in emerging Asia based on divergence from the 12-month average.

Spooked funds trigger emerging Asia’s biggest selloff before Thai vote, but they’ll likely return

The Monetary Authority of Singapore’s (MAS) policy pause last week paves the way for the local dollar to become a funding currency, according to HSBC Holdings plc.

Policy pause sets stage for Singapore dollar as funding currency, HSBC says

Malaysia is becoming the go-to destination for Asia bond investors like BlackRock Inc, with some looking to profit from possible signs of peak interest rates and others from an attractive yield pickup.

BlackRock among funds bullish on Malaysia bonds on rate bets

Marcus Wong

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Marcus Wong

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