Stormy Seas for Commodities – Cross Currents Ahead
Navigating 2023 with cross currents starting way back in 2020 is going to be challenging for commodities. While the Fed looks to tame inflation, commodities are well off the highs, but with inventory levels at all time lows, the road ahead looks tricky.
Housing. Resilience or Froth.
It’s been 9 months since the Fed embarked on its rate hike cycle, and the S&P 500 has dropped by more than 15%. US credit card debt has ballooned from USD 846 billion in April 2022 to USD 963 billion as of October 28, 2022. With all signs pointing to a recession (in the US only, never Singapore of course), it’s amazing that market positioning and sentiment has remained so resiliently optimistic. The property market in Singapore is a case in point – exhibiting phenomenal divergence in transactions, price and rental rates. It looks bleak enough in the US, but surely Singapore is insulated some say?