Asian Economist

Kok Peng Chan

Kok Peng has over three decades of experience covering the global economy and financial markets. He spent the bulk of his career in top global investment banks where he covered the Asian economies and stockmarkets. During this period, he travelled extensively to meet clients that cut across business lines. They include fund managers, hedge fund managers, private banking clients, corporates, and fixed income investors in the US, Europe, Japan, Singapore, Hong Kong and Australia. He is well liked by clients because of his commitment to a consistent framework and the ability to explain economic and financial developments with actionable investment recommendations. As a result he was ranked among top 3 economists in many surveys and polls conducted by financial magazines.

FX & Rates

<ul>
<li>The overlooked $233T US financial asset base is the missing cushion: even small portfolio reallocations can absorb annual Treasury issuance, reframing debt sustainability from scarcity to balance-sheet capacity</li>
<li>Put simply, a 1% reallocation from US household assets alone generates $1.4T in Treasury demand—proving sustainability depends on portfolio shifts, not new savings nor foreign appetite</li>
<li>As debt fears fade and the US maintains higher real yields, resilient growth, and deep liquid markets, USD weakness likely bottomed, making a firmer dollar a reasonable 2026 outlook</li>
</ul>


The overlooked $233T US financial asset base is the missing cushion: even small portfolio reallocations can absorb annual Treasury issuance, reframing debt sustainability from scarcity to balance-sheet capacity
Put simply, a 1% reallocation from US household assets alone generates $1.4T in Treasury demand—proving sustainability depends on portfolio shifts, not new savings nor foreign appetite
As debt fears fade and the US maintains higher real yields, resilient growth, and deep liquid markets, USD weakness likely bottomed, making a firmer dollar a reasonable 2026 outlook


Understanding US Debt Dynamics (2): The $38T Debt Vs the Demand Story Wall Street Ignores

US Treasury (10 Yr Generic)

Understanding US Debt Dynamics (2): The $38T Debt Vs the Demand Story Wall Street Ignores