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BofA: Bond yields in Asian emerging markets are in nominal terms trading the most below US Treasuries in years. “This is not purely a consequence of EM Asia's significantly lower policy rates skewed by China's heavy GDP weighting...”

Joseph Cotterill

@jsphctrl.ft.com

In theory this should be hitting currencies across EM Asia as investors go for higher US yields, but that isn't the case in many places. Which is possibly a reflection of foreign investors wanting US stocks and not so many US bonds, or Asian AI chipmakers bringing more of their (vast) profits home.

7/10/26, 2:01 pm0 reposts2 likes

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