Executive Summary The Dollar Index (DXY) is down ~11% since its peak in early January this year. This was despite the March rate hike and a hawkish tone from the FED to tightening monetary policies. Contrary to market expectation, we believe that the US Dollar (USD) will continue to weaken in the months ahead. Debt overhang in the private sector will limit future economic growth via credit expansion Debt ceiling impasse might cause potential re-rating of U.S. Treasuries from major...
Continue Reading

Market: The STI took a breather in August; it was down 1.6%. We remain Neutral, leaving our STI target at 3,270 (15x FY17e PE). We continue to see strong economic data across the globe. World economic growth is at 6-year highs. After a softer Apr-May, economic momentum is re-accelerating. We believe this will help sustain equity markets, despite many well-flagged fears. These include a potential Korean Peninsula conflict and a US government shut-down due to monetary tightening. On Korea, the...
Continue Reading

Tradable instruments: ETF: ProShares S&P 500 Dividend Aristocrats ETF - (AMEX:NOBL) The ProShares S&P 500 Dividend Aristocrats ETF tracks an equal-weighted index of 50 S&P 500 constituents that have increased dividend payments annually for at least 25 years. *NOBL was incepted in 2013   Limited downside compared to S&P 500 during past 2 crises Outperformed S&P 500 during recovery phase Continually growing dividends In our recent report on the S&P 500, we believe the current economic expansionary cycle is in...
Continue Reading

Take Profit: UMS, Hi-P and Metro Stop Loss: MM2 Asia, HMI, UPP Holdings, Food Empire, Sheng Siong and Sunpower Cumulative returns up to the month of August is 4.3% with a realised loss of - 1.26% in August War scare in the Korean peninsula capping the general bullish momentum as uncertainty arises Performance of the Straits Times Index (STI) was rather sluggish for the month of August 2017 as the STI fell -1.60%. Resulting in a negative month for the...
Continue Reading