Asian Bonds

UBS maintains a positive outlook on Asian bonds, noting that both investment grade and high yield segments offer attractive yields and stability despite geopolitical tensions. The asset class is supported by robust corporate balance sheets and a more diversified market structure.

Key Takeaways

• 1.Asia credit remains resilient with contained spreads despite higher rates and geopolitical uncertainty.
• 2.Asia Investment Grade offers yields above 5% supported by solid fundamentals.
• 3.Asia High Yield is healthier and more diversified with yields near 8%.

Table of Contents

• Central scenario
• Upside scenario
• Downside scenario
• Global asset class preferences definitions
• Appendix

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