- The S-REITs sector initially found a bottom this year in late Jun, in anticipation of the start of the rate cut cycle by the Federal Reserve (Fed) in Sep. However, S-REITs share prices have since corrected and this has coincided with the rebound in US Treasury (UST) yields despite the Fed’s rate cuts, and further exacerbated by the victory of President-elect Donald Trump in the recent US Presidential election.
Initial share price boost from rate cut cycle outdone by rebound in UST yields
- - Read this at SGinvestors.io -
- Given this backdrop of more limited Fed rate cuts and inflation staying above the Fed’s 2% target, this will likely push 10-year UST yields back to last year’s highs of 5.00%.
- - Read this at SGinvestors.io -
Slight downward revision in ours & the street’s DPU forecasts; still expecting growth in the next FY
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2024-11-18
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