- Interest rates have peaked but the pace of monetary easing is uneven. The ECB is likely to cut interest rates ahead of the FED. Maintain OVERWEIGHT on S-REITs.
- Our top picks are hospitality and retail plays, which benefit from a continued recovery in visitor arrivals and resilient consumer spending: BUY CapitaLand Ascott Trust, Far East Hospitality Trust, Frasers Centrepoint Trust and Lendlease Global Commercial REIT.
- - Read this at SGinvestors.io -
Pace of rate cuts differ from one country to another.
- - Read this at SGinvestors.io -
SNB fired the first salvo in March.
- Swiss National Bank (SNB) was the first central bank to start easing monetary policy with a 25bp cut to its main policy rate to 1.5% on 21 Mar 24.
- Inflation has dipped to 1.2% in Feb 24, staying within SNB’s target of 0-2% for nine consecutive months. SNB expects inflation to remain within the targeted range over the next few years. The move caught the market by surprise.
ECB anticipates commencement of monetary easing in June.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Jonathan KOH C UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-04-04
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