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iFAST 2026 Global Fixed Income Outlook: Riding the Recovery Wave

iFAST 2026 Global Fixed Income Outlook: Riding the Recovery Wave

The narrative for 2026 appears constructive for fixed income. We see the story in 2026 as one of continued recovery, supported by policy easing, steepening curves, and still-attractive carry. This outlook is your must-read guide to navigating fixed income markets in the year ahead.

Confirmed but contained: Singapore's 12.5% US tariff takes effect, thesis intact

The Section 301 forced-labour tariff flagged in our June note has now been confirmed and took effect today (24 July 2026, SGT 12 pm), lifting Singapore's effective US tariff rate to 12.5%. The constructive investment case for Singapore holds, with the unresolved overcapacity probe remaining the key variable to watch.

  • 24 Jul 2026
  • 127

The US imposes new tariffs on 60 economies. Here’s what you need to know

After months of calm, tariff risks are back in focus. While the latest US tariffs are unlikely to materially increase the overall tariff burden for now, the risk of further measures remains, reinforcing the need for investors to position portfolios for a prolonged period of policy and macroeconomic uncertainty.

  • 24 Jul 2026
  • 116

Singapore’s NODX continues to expand, further solidifying its economic resilience

June NODX grew 20.7% YoY, moderating from May’s exceptional 38.4% surge, as electronic NODX surged past 100% while non-electronic NODX slipped into contraction. Combined with a 12.2% YoY manufacturing print in 2Q26 GDP, the data reinforces our positive view on Singapore’s AI semiconductor positioning.

  • 24 Jul 2026
  • 115

Global Healthcare Outlook 2H26: Selectivity is key as pharma navigates pricing and patent headwinds

Drug pricing reforms and the looming patent cliff remain key overhangs for the healthcare sector, but we believe these risks are manageable and largely priced into current valuations.

  • 20 Jul 2026
  • 215

Global Fixed Income 2H26 Outlook: Finding value in a higher-yield world

Attractive yields support fixed income, but divergent rate paths and tight spreads favour carry, disciplined duration and selective credit exposure.

  • 17 Jul 2026
  • 247
Read More
  • Bonds8
  • Money Market Instruments7
  • SGS Bonds1
  • Alternative Investments7
  • Others17
  • Fixed Income211

Banco Santander Announces New SGD 6NC5 Senior Non-Preferred Bonds at an IPG of 3.10%

Banco Santander SA is launching a new SGD 6NC5 Senior Non-Preferred bond at an initial price guidance of 3.10%. Here is our take on the new issue.

  • 23 Jul 2026
  • 68

Credit update: Unlocking 5.8% Opportunities from a Leading UK Bank – Lloyds

  • 22 Jul 2026
  • 342

Aspial Lifestyle: A hidden gem in the SGD bond market

Strong earnings, resilient pawnbroking and attractive carry support Aspial’s 2029 notes, with further upside from Malaysia and secured lending.

  • 22 Jul 2026
  • 198

Credit Update: All that glitters is gold - Muthoot shines with its 6+% short-medium tenor USD bonds.

We revisit the credit case for Muthoot Finance and provide an updated view on their outstanding USD bonds.

  • 21 Jul 2026
  • 118

New Issue: Short, Safe and 2.02% – HSBC's New 2-Year SGD Senior Note

HSBC Bank plc's new 2-year SGD senior note at 2.02% offers a ~35bp pickup over Singapore government bonds — a defensive, single-A play for conservative SGD investors.

  • 15 Jul 2026
  • 118
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  • Investment Grade Corporate Bonds49
  • High Yield Bonds122
  • Asian Bonds31
  • School (Bonds)3
  • Others25
  • Market Events139

Fund Spotlight: Unlocking Japan's overlooked small-cap opportunities

Japan's small-cap market is benefiting from AI-driven industrial investment, improving domestic demand, and ongoing corporate governance reforms. The BNP Paribas Japan Small Cap fund leverages nearly three decades of specialist expertise to uncover overlooked companies positioned to benefit from these long-term trends.

  • 17 Jul 2026
  • 1636

Top Equity Funds [2Q26]: The energy trade fades, semiconductor takes the baton

As geopolitical tensions eased in 2Q26, investors rotated decisively from energy into AI, propelling semiconductor-focused funds to the top of the performance rankings. With the AI rally back in full swing, where are the best investment opportunities for 2H2026?

  • 10 Jul 2026
  • 2629

Top Bond Funds 1H26: Duration was no free lunch, but carry helped meaningfully

Carry led 1H26 bond fund returns, while Asian local-currency bonds lagged as higher local yields and weaker FX hurt performance.

  • 10 Jul 2026
  • 308

Amova Short Term Bond Fund: A step up from cash, without reaching too far

Amova Short Term Bond Fund offers investors diversified short-term bond exposure, aiming to outperform SGD cash rates through a defensive portfolio.

  • 06 Jul 2026
  • 3300

Q&A Series: Capturing China’s future winners beyond the mega-caps with T. Rowe Price

In the latest edition of our Q&A Series, we shine the spotlight on one of the top-performing China equity funds that looks beyond the mega-caps. Read on to find out more!

  • 03 Jul 2026
  • 601
Read More
  • Bonds69
  • Money Market Instruments16
  • Balanced18
  • Alternative Investments23

Japan: Are the stars aligned?

Japan equities are seeing the highest inflows in 20 years. Improving economic fundamentals aside, the positive sentiment is being fuelled by cyclical tailwinds and structural reforms that are still in play. Despite the strong rally to date, the Eastspring Japan equity team believes that there is more room for upside.

  • 15 Aug 2023
  • 1642

China is back: Tracking the progress of China’s accelerated re-opening

  • 16 Mar 2023
  • 1563

Japan's good value creates alpha opportunities

Japan’s companies are among some of the most cash rich, globally. Equally, some of the most attractive developed market valuations are to be found in Japan. Investors willing to look beyond the economic headlines will discover a market of stocks that is attractive on many fronts.

  • 07 Nov 2022
  • 1923

Chart Room: Three structural factors making for stickier inflation

Inflation has dominated front pages in recent months, with headline consumer price increases in the US reaching 40-year highs. While we don’t expect global inflation rates to remain at these record-breaking levels, we see several medium to long-term factors that should continue to place upward pressure on inflation.

  • 25 May 2022
  • 1954

Multi-asset view: More damage in the pipeline

The direct impact of the war in Ukraine seems to have been priced in for now, and equity markets had another relatively strong week. However, we are still cautious due to our expectations of slower growth as a result of high inflation, tightening financial conditions, and the squeeze on consumers.

  • 09 May 2022
  • 1834
Read More
  • Bonds185
  • Money Market Instruments2
  • SGS Bonds4
  • Alternative Investments1
  • Fixed Income106
  • Others53

Alphabet 2Q26 earnings: Free cash flow turns negative. Should investors be worried?

Alphabet’s aggressive AI infrastructure spending is pushing free cash flow into negative territory, but strong growth across Cloud and Search suggests these investments could be laying the foundation for substantial long-term monetisation.

  • 23 Jul 2026
  • 2372

Netflix Q2 2026 earnings: Is the company’s reduced transparency a red flag?

Netflix's weaker-than-expected Q3 guidance and reduced engagement disclosures triggered a sharp selloff, but we believe the long-term investment thesis remains intact.

  • 21 Jul 2026
  • 1748

Singapore property prices cooled in 2Q26 — here's why PropNex still looks attractive

URA's 2Q26 flash estimate looks worse than it is. PropNex earns commissions on both price and volume, and volume held steady — a resilience joined by three multi-year structural drivers building through 2028. We maintain our BUY rating on PropNex with a target price of SGD 2.70.

  • 17 Jul 2026
  • 352

ASML has not gotten cheaper. Our earnings estimates have gotten bigger

In June we told investors to take profits on ASML after the stock cleared our USD 1,750 target. That call was about valuation, not fundamentals — and we said we would revisit when the facts changed. They have. ASML’s second-quarter results and a second guidance raise in three months have moved our earnings base materially higher, leaving the stock looking inexpensive once again.

  • 17 Jul 2026
  • 3826

ServiceNow FY2027: The Time Is NOW

ServiceNow is positioned to benefit from the AI workflow era, as its sticky enterprise platform, hybrid AI monetisation model and AI Control Tower strategy support a premium valuation and meaningful upside potential.

  • 16 Jul 2026
  • 524
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MAPS Portfolio Note: Yesterday’s selloff changed the price, not the thesis

Markets sold off yesterday (23 June 2026), and we know many of you are concerned. South Korea’s KOSPI plunged nearly 10%, with circuit breakers triggered twice, and our VanEck Semiconductor ETF (SMH) fell sharply in sympathy with the broader semiconductor selloff. After SMH returned more than 140% over the past year, moves like this come with the territory. What matters is whether the long-term growth story has changed, and we don’t think it has.

  • 24 Jun 2026
  • 4893

MAPS Portfolio Note: Apple just said it better than we could — the memory shortage is far from over

When Apple says something has become “unavoidable,” the world pays attention. This week, CEO Tim Cook confirmed to the Wall Street Journal that the company will raise prices on its devices to offset surging memory chip costs. This tells you everything you need to know about the state of the global memory market, and why our conviction in the Global X Asia Semiconductor ETF has only deepened since we added it to your MAPS portfolios in April.

  • 19 Jun 2026
  • 985

MAPS portfolios are up as much as 31.9% in a year and we’re just getting started

Markets have been volatile in 2026. Yet through all of it, your MAPS portfolios have delivered. Our Growth portfolios have returned as much as 9.2% year-to-date and up to 31.9% over the past 12 months, beating their benchmarks across every risk profile. These are not lucky outcomes. They are the product of deliberate positioning, active management, and the discipline to stay invested when others are tempted to panic. If you’ve been sitting on the sidelines, this is what you've been missing.

  • 14 May 2026
  • 4131

1Q26 was brutal. Here's how MAPS came out ahead

War in the Middle East. Oil above USD 110. A steep selloff in software stocks. 1Q26 threw a lot at investors, and yet our MAPS portfolios held their ground. Read on to learn how your portfolios performed, what drove returns, the changes we made in April, and how we have positioned your portfolios for what comes next.

  • 05 May 2026
  • 3454

MAPS Portfolio Note: TSMC and SK Hynix just made the case for Asia semiconductors

We recently increased our Asia ex-Japan exposure from neutral to overweight and initiated a position in the Global X Asia Semiconductor ETF. The latest 1Q26 earnings from two of the ETF’s largest constituents — TSMC and SK Hynix — have validated that decision.

  • 24 Apr 2026
  • 3289
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Shield Plans vs Critical Illness Insurance: Which do you need?

Many Singaporeans confuse Shield Plans with Critical Illness insurance, but each protects against a different financial risk. Learn how these two coverages work together, when each comes into play, and why having both can provide more comprehensive financial protection during a serious illness.

  • 22 Jul 2026
  • 328

Will Your Insurer Pay Out? 2026 Guide to Singapore Insurer Ratings

If you are unsure about how insurer credit ratings affect you, you are not alone. Already have a policy with a Singapore insurer? Find out what these ratings mean for you, and what to look out for when purchasing insurance coverage.

  • 07 Jul 2026
  • 3497

[Event Exclusive] Protect More, Save More — Get a *Free Grow-Your-Own-Plant blind box with a quote

Visit our FSM Insurance booth at the FSM ETFest x Mid-Year Review Event to discover how you can optimise your insurance coverage and receive a complimentary "Grow Your Own Plant" Blind Box! No purchase required. *Terms and conditions apply.

  • 25 Jun 2026
  • 5144

Is Your Local Health Plan Enough? (A Regional Comparison)

If you live overseas, your local health plan or a locally issued international health plan may already be sufficient to cover for your usual healthcare needs. This article explains why a Singapore international health plan.

  • 17 Jun 2026
  • 2788

Are you paying a "Loyalty Tax" on your Term Life insurance?

Many Singaporeans set up a term life plan once — and never touch it again. Over time, premiums and new products change, so you could be paying more than you need to for the same type of protection. This article shows you how to assess whether you’re overpaying, how to right-size your coverage, and how to potentially save up to 53% a year simply by reviewing your term life plan. Plus, find out how to get up to 45% commission rebates on eligible policies when you insure with FSM Global.

  • 22 May 2026
  • 8597
Read More

FSMOne is Now FSM Global: What You Need to Know

From 25 July 2026, FSM Global will have a new URL, fsm.global/sg, which replaces secure.fundsupermart.com/fsmone. Please take note of this change.

  • 24 Jul 2026
  • 199

Breaking Update: SGX Introduces First US SDRs — Grab, Sea and SpaceX

  • 21 Jul 2026
  • 3688

[Promo] Capture Asia's Growth Story with UOB Asset Management

From now till 31 August 2026, invest the following amount in any combination of the funds mentioned in this promotion to enjoy cashback! Enjoy S$10 worth of cashback for every S$10,000 invested (or equivalent in the fund’s respective currency), up to S$100.

  • 20 Jul 2026
  • 1858

Topping up your FSM Global Account: A Guide for Global Investors

  • 13 Jul 2026
  • 2763

[Promotion] Moving beyond the crisis – Get on the right foot with 2 free* ETF trades

Put the strategies you’ve heard at FSM Global’s ETFestival x Mid-Year Review 2026 to the test and enjoy 2 free* buy trades on selected ETFs till 31 July 2026. Terms and Conditions apply*.

  • 13 Jul 2026
  • 7720
Read More
  • Bond Announcements14

South Korea: Short-term Supplement [IOTW: 03 Dec 18]

  • 03 Dec 2018
  • 1649

MAS Tightens Again – What’s Next? [IOTW: 12 Oct 18]

  • 12 Oct 2018
  • 3772

Where's my CPF Money? [IOTW: 21 Sep 18]

  • 21 Sep 2018
  • 3698

If The Ghost of August Is Real, What Should You Do? [IOTW: 17 Aug 18]

  • 17 Aug 2018
  • 2147

Get To Know Your New Recommended Asian Equity Funds! [IOTW: 3 Aug 18]

  • 03 Aug 2018
  • 2317
Read More

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