Top-10 macro trade ideas (Q2 update)

This is an update and follow-up to our January publication; we cover our favourite macro trade ideas in rates/currency/credit/equities
Group Research07 Apr 2022
  • Rates: SGD and CNY rates outperformance to continue
  • Currencies: We are long USDCNY, USDTHB, and EURGBP
  • Credit: Maintaining positivity on Thai banks’ subordinated bonds
  • Equities: China/HK equities are too cheap to ignore
Photo credit: Unsplash Photo

Idea #1: SGD rates outperformance to last         

Idea #2: China’s divergences to be reflected in outperformance of CNY rates

Idea #3: Receive 5Y MYR IRS vs pay 5Y THB OIS on differing risk profiles

Idea #4: Long USD vs CNY on “dovish PBOC, hawkish Fed”

Idea #5: Take profit on long USD/JPY and shift to a long USD/THB strategy

Idea #6: Switching from a “short EUR, long SGD” strategy to a long EUR/GBP play

Idea #7: Maintaining positivity on Thai banks’ subordinated bonds

Idea #8: Wary of uneven impact from oil shocks on energy and basic materials

Idea #9 China/HK equities are too cheap to ignore

Idea #10: Stay long with the STI’s re-opening theme        

To read the full report, click here to Download the PDF.

Taimur Baig, Ph.D.

Chief Economist - Global


Chang Wei Liang

FX & Credit Strategist, Global

Nathan Chow 

Senior Economist and Strategist - China & Hong Kong

Eugene Leow

Senior Rates Strategist - G3 & Asia

Duncan Tan

Rates Strategist - Asia

Philip Wee

Senior FX Strategist - G3 & Asia

Dennis Lam Che Jung

Team Head, Equities Research

Yeo Kee Yan

Specialist, Equities

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