However, the combined spending might of US consumers has thrown those expectations out of the window. With monthly inflation numbers coming higher than expected and employment numbers holding firm as the US economy chugs along, the case for the US Fed to start cutting rates has dimmed rapidly.
Earlier expectations of rate cuts have been moderated by stubbornly high US inflation. With rates expected to be higher for longer, where is the Singapore market heading and which stocks could do well?
Barely six months ago, market observers debated how many rate cuts the US Federal Reserve Board would make by the end of this year based on how inflation was expected to ease further.
