Records, rate cuts and the yen’s reckoning

In the latest Market Focus Weekly podcast from The Business Times, correspondent Howie Lim interviews Arun Sai, senior multi-asset strategist at Pictet Asset Management, who argues that the AI trade's 'rising tide lifts all boats' era is over and that single-stock dispersion will define returns. Sai also challenges consensus on Federal Reserve rate-cut bets, identifies capital flows as the overlooked factor for the yen, and highlights a K-shaped pattern in Asia's growth story, with a specific oil price threshold signaling global economic trouble.

Records, rate cuts and the yen’s reckoning Get analysis on Fed policy, the yen, AI bifurcation, and regional market trends on this week's Market Focus Weekly. Markets are sending mixed signals, and this episode of Market Focus Weekly , a podcast from The Business Times , connects the dots that headlines miss. Correspondent Howie Lim sits down with Arun Sai, senior multi-asset strategist at Pictet Asset Management, for a conversation that goes far beyond surface-level takes. Why listen The Fed debate isn’t as settled as it looks Everyone’s celebrating tame inflation data, but Arun challenges the consensus, unpacking why “boring” prints matter for bond markets and whether investors are getting ahead of themselves on rate-cut bets. The yen’s fate hinges on one overlooked factor Intervention headlines grab attention, but Arun explains why the real turning point for the yen isn’t about central bank action at all — it’s about capital flows most investors aren’t watching. AI’s next phase will create winners and losers The AI trade is evolving fast. Arun breaks down why the “rising tide lifts all boats” era is over, and why single-stock dispersion — not broad exposure — will define returns from here. Asia’s resilience has a catch From Thailand’s slowdown to South Korea’s wild swings, Arun reveals the K-shaped pattern running beneath Asia’s growth story, and why some economies are far more exposed than others. Oil, war, and the number that actually matters Geopolitical risk headlines cause noise, but Arun cuts through it with a specific price threshold that would signal real trouble for the global economy. Catch every nuanced call before markets move — insight you won’t get from skimming summaries. Listen now. Discover more episodes at bt.sg/podcasts https://bt.sg/podcasts . Got feedback? Email us at btpodcasts@sph.com.sg mailto:btpodcasts@sph.com.sg . --- Written and hosted by: Howie Lim howielim@sph.com.sg With Arun Sai, senior multi asset strategist at Pictet Asset Management Edited by: Howie Lim & Claressa Monteiro Produced by: Howie Lim & Chai Pei Chieh A podcast by BT Podcasts, The Business Times , SPH Media --- Follow Market Focus Weekly podcasts every Friday: Channel: bt.sg/btmktfocus https://bt.sg/btmktfocus/ Amazon: bt.sg/mfam https://bt.sg/mfam Apple Podcasts: bt.sg/mfap https://bt.sg/mfap/ Spotify: bt.sg/mfsp https://bt.sg/mfsp/ YouTube Music: bt.sg/mfyt https://bt.sg/mfyt Website: bt.sg/mktfocus https://bt.sg/mktfocus/ Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. Discover more BT podcast series: BT Money Hacks at: bt.sg/btmoneyhacks https://bt.sg/btmoneyhacks BT Correspondents: bt.sg/btcobt https://bt.sg/btcobt BT Podcasts: bt.sg/pcOM https://bt.sg/pcOM BT Lens On: bt.sg/btlenson https://bt.sg/btlenson Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free. Market Focus https://www.businesstimes.com.sg/keywords/market-focus?ref=article-bottom-keyword Stock Markets https://www.businesstimes.com.sg/keywords/stock-markets?ref=article-bottom-keyword US Federal Reserve https://www.businesstimes.com.sg/keywords/us-federal-reserve?ref=article-bottom-keyword Interest rates https://www.businesstimes.com.sg/keywords/interest-rates?ref=article-bottom-keyword Yen https://www.businesstimes.com.sg/keywords/yen?ref=article-bottom-keyword Bank of Japan https://www.businesstimes.com.sg/keywords/bank-japan?ref=article-bottom-keyword Artificial Intelligence https://www.businesstimes.com.sg/keywords/artificial-intelligence?ref=article-bottom-keyword South Korea stocks https://www.businesstimes.com.sg/keywords/south-korea-stocks?ref=article-bottom-keyword Oil prices https://www.businesstimes.com.sg/keywords/oil-prices?ref=article-bottom-keyword Copyright SPH Media. All rights reserved. ABOUT THE PODCAST Market Focus Weekly distils the week’s key market moves and economic drivers across Singapore and the region. Hosted by Emily Liu, it delivers expert analysis and forward-looking insights every Friday. It is perfect for investors who want an audio briefing on the week’s investment landscape and what could move markets next. TRENDING NOW /pulse?ref=trending-now How BYD disrupted Singapore’s car market – and why the strategy is turning on itself Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks Passing on values comes into focus as Asean’s family businesses hand over the reins