Microsoft: Short-Term Pain, Long-Term Opportunity

The market is currently pricing Microsoft as though its AI investment cycle will permanently impair the company's profitability. In our view, investors are penalising Microsoft for taking a disciplined, long-term approach by allocating computing resources towards developing its own AI models instead of maximising short-term Azure revenue.

New Issue: FWD Group Holdings Limited 5.75-Year SGD Subordinated Capital Securities; IPG of 3.55%

FWD Group Holdings Limited is launching a new 5.75-year SGD subordinated bond at an initial price guidance of 3.55%. Here is our take on the new issue.

iFAST Investment Outlook 3Q 2026: Here’s what we’re buying next.

Asian equities trade at 15.9x forward earnings against 22.0x for the S&P 500, for comparable or better growth. Here's where the opportunity is.

Digital Economy (Internet) Outlook 2H26: Better Late Than Never; Maintained 3.5 Stars

We believe that mispricing still exists across the sector, as the market has yet to reward some AI beneficiaries while overly punishing incumbents over concerns of AI-driven disruption. At the same time, however, the macroeconomic environment has become more challenging, requiring more prudent stock selection and portfolio management.

Bond Update: SpaceX USD Bond; Yield up to 6.8%, Now Available on iFAST!

SpaceX bonds offer investment-grade exposure to launch and Starlink growth, with 5–30-year maturities, yields up to 6.85%, manageable leverage, and capex-related risks for income investors.

Semiconductor Outlook 2H26: Look Before You Leap

Global E-commerce Outlook 2H26: Rough waters

While the performance of the global e-commerce sector has been lacklustre on a year-to-date basis, the industry continues to face headwinds, including rising logistics costs amid heightened geopolitical tensions and intensifying competition across key markets. We favour a selective investment approach, with a preference for companies that demonstrate clear competitive advantages.

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!

ASEAN Outlook 2H26: Unattractive index; Go for SG and MY instead

We prefer to own Singapore and Malaysia directly rather than the regional index. We are OVERWEIGHT Singapore and Malaysia, while UNDERWEIGHT Indonesia and Thailand. As such, we have downgraded ASEAN to 2.0 stars ‘Unattractive’ on a relative basis, reflecting our preference for direct exposure to Singapore and Malaysia.

Idea of the Week: Lock In Defensive Income (up to 5.3%) with Walmart’s High-Velocity Cash Machine

Walmart's Aa2/AA-rated bonds offer around 5.5% yield, backed by a defensive, cash-generative business model and a stable credit profile.