3 paper tigers of global recession fears

SINGAPORE (May 23): Bank of Singapore (BoS) is maintaining its neutral stance on US and European equities with a focus on rotation and carry themes, while recommending exiting technology and taking exposure in financials in the case of equities.

The subsidiary of OCBC Bank is still expecting positive growth for all of 2017 at the very least, and into 2018 – and projects of US long-bond yields to drift higher from the current level of 2.25% for the rest of the year with the possibility of even touching 3% before the end of the year.  

In a weekly report dated Tuesday, BoS chief investment officer (CIO) Johan Jooste observes how survey data suggests that many private investors are still as worried as they have ever been about markets – even as many measures of market volatility have declined to very low levels of late.

---

Related Stories

• Fed to hold interest rates steady but start considering cuts
• Russia hires its own Africa army to succeed Wagner's mercenaries
• Briefs: Singapore’s headline inflation rebounds to 3.7% y-o-y; Jack Ma boosts Alibaba with stock purchase

---