Phillip ETF Model Portfolio: Monthly Update May 25, 2018 831

Market Highlights

  • 10-yr treasury yield crossed above the Rubicon 3% level, technically signifies the end of the 35-year bull market. Refer to our report here, on how high we think yield can go.
  • A rise in bond yields can be greeted positively by equity markets when it flags higher growth expectations.
  • Geo-political tension remains high as US-China trade negotiating continues to hog headline news. Kim-Trump summit remains an uncertainty.
  • Oil broke up higher on new sanction on Iran and possible sanction on the new Venezuela government.

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About the author

Profile photo of Pei Sai Teng

Pei Sai Teng
Investment Analyst
Phillip Securities Research Pte Ltd

Sai Teng covers the global macro research. He has more than 6 years investment experience primarily in portfolio construction and asset allocation. He graduated with Bachelor of Science in Banking and Finance from University of London.

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