In light of how the yield curve has recently inverted, Chew notes how this places the market back on recession watch.
With the global economy facing stagflation, where prices are higher with lower incomes, the Singapore market stands out as a shelter, says PhillipCapital analyst Paul Chew.
At this point, inflation has been exacerbated by the Russia-Ukraine conflict, which has driven up crude oil prices to their highest in 13 years. As a result, global growth is expected to decelerate as interest rates continue to climb.
