Explore this webinar on the 2026 outlook for Asian credit markets and banking risks.

David Wong (GICP and Fitch Learning) and Pramod Shenoi (CreditSights) discuss the macro and market forces shaping APAC debt markets, from tariffs and private credit to AI-driven issuance trends. The session is relevant for credit investors, banking professionals and analysts focused on Asia-Pacific markets.

Key takeaways

• Asian credit market issuance and spreads have improved: Bond issuance has recovered in 2025, helping reduce the supply imbalance that had previously distorted spreads and investor allocations.
• 2026 bond outlook favors duration despite wider credit spreads: The speakers expect lower US Treasury yields next year, alongside some spread widening, which could still support positive bond returns overall.
• Tariff risks in Asia are becoming clearer: While trade policy remains a source of uncertainty, preliminary agreements across several Asian markets have reduced some of the earlier disruption fears.
• Country-specific risks remain important across Asian markets: Investors should watch economy-specific pressures in markets such as Thailand, Indonesia, the Philippines and Hong Kong, where domestic vulnerabilities remain important.
• Private credit risks are drawing closer investor scrutiny: The discussion highlighted concerns around underwriting discipline, liquidity terms and the potential for stress if market conditions deteriorate.
• AI investment is reshaping issuance and credit market trends: Large-scale spending on AI infrastructure is reshaping issuance trends and raising new questions for credit investors around sustainability, supply and long-term returns.

Watch the recording