- The US administration slapped tariffs on $50bn worth of Chinese imports, mainly in machinery and equipment.
- Fed raised interest rates by 25bps to no surprise. Curiously, the inflation forecast was only raised marginally to 2.1%
- In Singapore, banks will provide support with their earnings with expectation of significantly better NIMs from YoY rises in both the SIBOR (+38%) and SOR (+55%) this quarter
- Property sales in Singapore are resilient. Take-up in a recent residential launch by CDL was strong, at almost 40% over a weekend
- Another sector we like is coal. Coal prices have been resilient as China plans to cut supply while its power consumption is rising