https://www.scmp.com/rss/512347/feed Clara Cheong is a Singapore-based global market strategist at JP Morgan Asset Management. Part of the Global Market Insights Strategy team, she is responsible for formulating and communicating the market outlook and investment views in the Asia region. She has more than 10 years of experience in global asset allocation, investment strategy and portfolio management. Prior to joining the Market Insights Strategy team, Clara was a multi-asset portfolio manager on the J.P. Morgan Wealth Management... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com High inflation across most developed and emerging markets in 2022 led to one of the most aggressive and synchronised monetary tightening cycles observed in the past few decades. The lag in the effects of tighter financial conditions, combined with lower household income, means global growth deceleration is inevitable in 2023. But, while the global outlook is downbeat, a closer look reveals underlying differences in growth trajectories across major economies. A study of US recessions dating back... https://www.scmp.com/comment/opinion/article/3206536/china-reopening-and-asia-rebound-could-see-global-recession-avoided-2023?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3206536/china-reopening-and-asia-rebound-could-see-global-recession-avoided-2023?utm_source=rss_feed Sat, 14 Jan 2023 02:30:16 +0000 Listed US companies are reporting better-than-expected earnings for the third quarter, giving investors some respite from inflation concerns and the recent rise in Treasury yields. Improved investor sentiment sent the S&P 500 up by 8.1 per cent over the last two weeks of October, before the latest Federal Reserve interest rate push sent it down again. More than three quarters of S&P 500 companies have reported their earnings, with around 60 per cent outperforming expectations of their operating... https://www.scmp.com/comment/opinion/article/3198294/too-soon-say-about-sp-500-rally-despite-surprise-us-earnings-boost?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3198294/too-soon-say-about-sp-500-rally-despite-surprise-us-earnings-boost?utm_source=rss_feed Fri, 04 Nov 2022 14:00:11 +0000 The strength of the US dollar has been palpable this year, with the currency rallying about 20 per cent, retesting 20-year highs. The pain felt across G10 nations has been most acute in Japan and the UK, with the yen and pound some 20 per cent weaker, while the euro is down 15 per cent. Other Asian currencies have weakened but remained largely resilient compared to the G10 currencies, apart from those commodity-linked ones such as the Canadian and Australian dollar, and Swiss franc. Widely... https://www.scmp.com/comment/opinion/world/article/3194157/risk-asian-currency-crisis-remains-low-even-amid-us-dollar?utm_source=rss_feed https://www.scmp.com/comment/opinion/world/article/3194157/risk-asian-currency-crisis-remains-low-even-amid-us-dollar?utm_source=rss_feed Fri, 30 Sep 2022 03:30:10 +0000 This year is shaping up to be a challenging one for risk assets on the back of a sharp, hawkish pivot by many developed-market central banks, including the US Federal Reserve, the Bank of England and the European Central Bank, at the start of 2022. The pivot sparked a rapid rise in policy rate expectations, which in turn drove bond yields higher at a pace not seen over the past decade. The US 10-year Treasury yield has more than doubled, from 1.5 per cent at the beginning of the year to around... https://www.scmp.com/comment/opinion/united-states/article/3190989/why-its-still-too-soon-be-optimistic-about-recovery?utm_source=rss_feed https://www.scmp.com/comment/opinion/united-states/article/3190989/why-its-still-too-soon-be-optimistic-about-recovery?utm_source=rss_feed Fri, 02 Sep 2022 03:15:29 +0000 While many had hoped that inflation had peaked in March, the red-hot May data has stirred fresh concerns about the level and persistency of a phenomenon we haven’t really experienced since the 1980s. Following that, the US Federal Reserve decided to raise its interest rates by 75 basis points – three-quarters of a percentage point – the biggest increase since 1994. The US consumer price index increased 8.6 per cent year on year in May, above the 8.3 per cent consensus expectations. A closer look... https://www.scmp.com/comment/opinion/article/3181919/can-hawkish-fed-balance-risks-and-avoid-us-recession-amid-its?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3181919/can-hawkish-fed-balance-risks-and-avoid-us-recession-amid-its?utm_source=rss_feed Fri, 17 Jun 2022 17:30:12 +0000 Inflation, which has been missing for a decade, has seemingly returned with a vengeance. It now has the full attention of central bankers and investors across the world and continues to be a key driver of price action in markets. US headline inflation came in at 8.5 per cent year on year in March, a level not seen since the early 1980s. While the breakdown shows a broad-based gain across food, energy, core goods and core services, inflation in energy prices was the biggest contributor to the... https://www.scmp.com/comment/opinion/article/3174234/march-data-shows-us-inflation-woes-could-soon-be-end?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3174234/march-data-shows-us-inflation-woes-could-soon-be-end?utm_source=rss_feed Fri, 15 Apr 2022 13:00:16 +0000