Ideas
Aidan Yao
Senior Investment Strategist, Amundi Investment Institute
18:19
Curve steepener is focal allocation trade
Aidan expects the front end of the US Treasury curve to remain anchored by Fed rate-cut pricing while the long end stays pressured by fiscal concerns and Fed uncertainty, making a curve steepener one of his focal asset-allocation trades this year.
Aidan Yao
Senior Investment Strategist, Amundi Investment Institute
18:37
AI is not a bubble, long runway
Aidan says Asia's best-performing sectors across mainland China, Hong Kong, Taiwan, Korea and Japan are all AI-related, and Asia plays a key role in the global AI ecosystem, offering diversification for investors worried about Magnificent 7 valuations.
Aidan Yao
Senior Investment Strategist, Amundi Investment Institute
19:34
Mag 7 frothy, diversify instead
The narrow, expensive AI investment case centered on the Magnificent 7 shows signs of froth, so Aidan recommends a more selective and diversified approach rather than concentrating in those seven stocks.
Aidan Yao
Senior Investment Strategist, Amundi Investment Institute
20:01
Balance China and US tech
Aidan says portfolios have been too lopsided toward the US, while China and the US are competing neck-and-neck in AI and the contest is too close to call, so he recommends clients build a more balanced approach between China and US tech.
Aidan Yao
Senior Investment Strategist, Amundi Investment Institute
20:24
AI ecosystem broadens beyond Mag 7
Aidan thinks the AI revolution will broaden beyond the Magnificent 7; with infrastructure and supply chain reasonably priced, he points to upstream utilities and energy and downstream applications as ways to fish across the ecosystem.
Aidan Yao
Senior Investment Strategist, Amundi Investment Institute
27:45
Asia and EM are favored
Aidan likes Asia and emerging markets, saying Asia is a large part of EM and should benefit from global diversification away from USD-denominated assets and structural weakness in the US dollar.
Aidan Yao
Senior Investment Strategist, Amundi Investment Institute
28:39
Reforms support shareholder returns
Aidan sees a global reform story: Korea and Japan have benefited, Singapore performed on corporate reform, and China's regulatory changes aim to increase shareholder returns, supporting high-dividend stocks.
Aidan Yao
Senior Investment Strategist, Amundi Investment Institute
29:26
India and Vietnam liked long term
Longer term, Aidan likes India and Vietnam amid changing economic and geopolitical waters.
Aidan Yao
Senior Investment Strategist, Amundi Investment Institute
30:03
China equities powered by new China
Aidan says China equities are powered by new China themes including AI, technology, innovative drugs and new consumption, with underweight global positioning, abundant household deposits and forceful policy support; however, earnings need to catch up to justify further rally.
Aidan Yao
Senior Investment Strategist, Amundi Investment Institute
30:35
China property still drags economy
Aidan says old China real estate remains a drag on the economy; without a clear bottom in property prices, household balance sheets and confidence will hold back spending.
China tech momentum is fading
Winnie says China tech is losing momentum because of global tech volatility, a lack of domestic catalysts such as new AI models or stimulus, and earnings that have not yet come through; onshore tech is down about 6% since its January peak.
China consumer names attract rotation
Winnie says allocation is shifting toward China consumer names such as retail, restaurants and airlines on expectations for more spending.
Korea discount persists despite rally
Sangmi says the Korea discount persists despite a $1.7 trillion rally because family-run chaebol structures and inheritance-tax incentives historically encouraged low valuations; reforms are needed, though book values and earnings growth have improved.
Gold over US Treasuries for reserves
Monica says China's guidance to banks to curb US Treasury exposure is part of a broader reserve-diversification trend; as central banks consider sanctions and expropriation risks, it is fitting to consider gold or other sovereign bonds over US Treasuries.
Gold over US Treasuries for reserves
Monica says China's guidance to banks to curb US Treasury exposure is part of a broader reserve-diversification trend; as central banks consider sanctions and expropriation risks, it is fitting to consider gold or other sovereign bonds over US Treasuries.
JGBs are key tail-risk watch
Monica sees JGBs as a top tail-risk and contagion theme for the year: spikes in JGBs correlate with risk-off across assets including Bitcoin and can pull credit spreads, while carry-trade unwind and domestic real-rate reallocation remain risks to watch.
SoftBank bonds underperform on supply
Monica says SoftBank has underperformed across its curve and struggled to recover even on risk-on days because it has issued so much debt.
AI leveraged loans are struggling
Monica says AI-related debt is a larger problem in leveraged loans, where about 16% of the universe is AI-related, mostly single-B and highly levered; that market is widening and struggling to find footing.
Short high yield over duration
Monica remains cautious on longer-dated duration but is happy to take carry in shorter-dated high yield, seeing healthy credit liquidity and rebounding spreads after bouts of widening.
Trade investment-grade credit range
In investment grade, Monica is happy to trade the range, saying spreads are tight but relatively tame and widenings have rebounded alongside general sentiment.
Weaker dollar helps EM credit
Monica says dollar bearishness helps emerging markets and is not a bad thing for EM credit, while ample liquidity keeps credit markets functioning.
China 10-year bonds supported by easing
Iris says cheap funding, PBOC liquidity injections and expected post-holiday easing have helped China's bond market, with the 10-year yield falling below 1.8% to its lowest since November; traders are discussing more bond buying and possible bond and equity gains this year.
Overweight TSMC on capacity crunch
Edward is overweight TSMC and says he is not worried about earnings or revenue growth because customers are fighting for capacity; the semiconductor supply chain is capacity constrained across memory and logic while suppliers are cautious about overbuilding, a healthier setup.
AI semiconductor supply chain is tight
Edward says AI demand has created a semiconductor capacity crunch: memory demand was a shock, capex keeps surprising to the upside, and server memory is squeezing consumer and PC supply, with AI even bringing inflation before productivity.
China robotics essential for humanoids
Edward says humanoid robotics is early stage and wide open; China's manufacturing capability is needed to bring costs down for mass adoption, and if the vision of millions of units globally materializes, China's supply chain is essential.
Weaker dollar good for emerging markets
Kristalina says the dollar's recent decline should not be overread and its reserve role remains entrenched, but a somewhat weaker dollar is good for many emerging markets because dollar borrowers pay less.
This Bloomberg Markets video, published February 10, 2026,
features Aidan Yao, WINNIE SUE, Sangmi Cha, Monica Hsiao, Iris, Edward Chan, Kristalina Georgieva
discussing US Treasury Curve Steepener, AI-SECTOR, MAGS, KWEB, US Tech, UTILITIES, XLE, AI applications, AAXJ, EEM, EWY, EWJ, Singapore equities, China high dividend stocks, INDA, VNM, FXI, China property, CHIQ, China restaurants, China airlines, Korean equities, GLD, IGOV, TLT, Japanese government bonds, SoftBank bonds, Leveraged Loans, SHYG, LQD, EMB, China 10-year government bonds, TSM, SMH, China humanoid robot supply chain.
26 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Aidan Yao,
WINNIE SUE,
Sangmi Cha,
Monica Hsiao,
Iris,
Edward Chan,
Kristalina Georgieva
· Tickers:
US Treasury Curve Steepener,
AI-SECTOR,
MAGS,
KWEB,
US Tech,
UTILITIES,
XLE,
AI applications,
AAXJ,
EEM,
EWY,
EWJ,
Singapore equities,
China high dividend stocks,
INDA,
VNM,
FXI,
China property,
CHIQ,
China restaurants,
China airlines,
Korean equities,
GLD,
IGOV,
TLT,
Japanese government bonds,
SoftBank bonds,
Leveraged Loans,
SHYG,
LQD,
EMB,
China 10-year government bonds,
TSM,
SMH,
China humanoid robot supply chain
