Our recent research trip to Manila left us with a constructive view on the Philippines’ monetary policy and a more cautious one on what surrounds it.

Indonesian assets have been priced for a policy problem. Our recent meetings in Jakarta point to an economy that is more resilient, and a policy mix more orthodox, than this year's underperformance suggests.

Markets are pricing an aggressive tightening cycle. Our recent meetings in Mumbai and New Delhi point to an economy that is more resilient, and a central bank more measured, than current expectations suggest.