- Downgrade to NEUTRAL from Overweight – We expect the performance of S-REITs sector to be negatively impacted by the ongoing Middle East conflict, which has dimmed rate cut expectations and is beginning to weigh on the global economic outlook. We recommend investors stick to defensive large-cap Singapore-centric REITs to ride out the current market volatility.
- - Read this at SGinvestors.io -
From rate cuts to rate hikes?
- Global bond yields have risen in unison over the last three weeks, as the market weighs the impact of a prolonged energy supply disruption and resultant shift in expectations on inflation. Among the major central banks, swap pricing currently points to at least one rate hike by the European Central Bank (ECB), Bank of England (BoE), and Bank of Japan (BoJ) and no rate cuts for the US Federal Reserve (Fed) until 2027.
- - Read this at SGinvestors.io -
Interest cost largely on a declining trend
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