Michele Barlow & team Bank of America Merrill Lynch Michele Barlow and her Bank of America Merrill Lynch crew capture third place in this newly added sector. Barlow’s “strategy calls have stood the test of time over multiple credit cycles and differing credit environments,” marvels one client. Macroeconomic uncertainty and government policy intervention will continue to be the market’s key drivers, the Hong Kong–based team leader says. With Asian investment-grade credit spreads remaining attractive — both on a historical basis and relative to other geographic markets’ — the analysts have a slight preference for the debt of companies outside the financial sector, though “banks will provide stability in choppy markets,” Barlow explains. As for high-yield debt, she cautions selectivity: “Double-Bs still offer a decent pickup to triple-Bs, but investors should stick with the quality names and be willing to ride some volatility,” she says. — ­Carolyn Koo