Opinion
17 Sep 2026
Asia Credit Is a Carry Sleeve. Spreads Are Not the Whole Story.
UBS GWM’s mid-2026 Asia note put Asia investment-grade all-in yields near 5.3 per cent and a 93 basis-point pick-up over same-tenor US Treasuries, against 64 basis points for US IG. Asia high-yield dollar paper has returned 4.3 per cent year to date against 1.8 per cent for US peers, Bloomberg data compiled by The Business Times show. The allocation question is carry and selection, not a spread-tightening thesis.
