In this week’s market update, brought to you in collaboration with the Securities Investors Association Singapore (SIAS), we’re diving into the latest events impacting the global equity market. We also take a closer look at DBS, OCBC, and UOB. You can watch the video for a more detailed analysis of what lies ahead this week.
### Weekly Market Review
#### Macro Update
Last week, we saw a bit of life returning to the markets, with the S&P 500 inching up by 0.5%, landing at 5,668, while the STI made a stronger advance of 2.3%, breaking past the 3,900 mark. A significant event during this period was the Federal Reserve meeting, where, as anticipated, they kept interest rates steady between 4.25% and 4.5%. Despite the Fed’s projection for a couple of rate cuts in 2025, the market is betting on three reductions within this year, possibly around June, September, and December. However, this outlook is still shrouded in uncertainty, causing some ripples across global bond yields. Particularly, the US 10-year bond yield has been rather turbulent as investors juggle various influences, including concerns around inflation.
