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Latest Forum Topics / OCBC Bank    Last:23.46    +0.12  Post Reply
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chartistkao1
Supreme
13-Jun-2023 16:23     
 
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 Alert Admin 		the world will run out of usd as usd goes back to us government
https://www.fticonsulting.com/insights/articles/whats-next-treasury-general-account

chartistkao1      ( Date: 13-Jun-2023 16:07) Posted:

when us suck all the usd to the big us vacuum T-bills
the PBOC has taken a looser policy stance by cutting its interest rate on seven-day reverse repurchase operations. This indicates a reduction in short-term lending rates and potentially a more accommodative monetary policy. In contrast, the U.S. Federal Reserve and other major central banks have been raising interest rates in an effort to address stubbornly high inflation.
It' s important to note that central banks adjust their monetary policies based on their respective economic conditions, inflation levels, and policy objectives. Changes in interest rates and liquidity injections are common tools used by central banks to manage economic conditions. The specific reasons behind the PBOC' s decision would require further analysis of the Chinese economy and its unique circumstances at the time.
 

chartistkao1      ( Date: 13-Jun-2023 16:02) Posted:

China&rsquo s Central Bank Moves to Shore Up Recovery

Unexpected trim in key lending rate likely heralds further steps to stimulate China&rsquo s economy.

SINGAPORE&mdash China&rsquo s central bank unexpectedly trimmed a key lending rate, a sign of policy makers&rsquo growing unease over a sputtering recovery that likely foreshadows further steps to nudge China&rsquo s economy back on track. 
Economists, though, say lower borrowing costs might not do much to help China&rsquo s weak recovery, as households and businesses have so far shown little appetite to borrow amid already high debt levels and subdued prospects for growth. 
 
The shift to looser policy by the People&rsquo s Bank of China stands in contrast to the U.S. Federal Reserve and most other major central banks, which continue to raise interest rates in an effort to cool stubbornly high inflation. 
The PBOC said Tuesday it cut the interest rate on seven-day reverse repurchase operations to 1.9% from 2.0% previously, its first cut in short-term lending rates since August. The central bank also said it injected 2 billion yuan, equivalent to about $280 million, into the banking system at the new, lower rate.

So-called repo and reverse repo transactions are key tools used by central banks, including the Fed, to manage banks&rsquo funding needs and influence interest rates on loans to households and businesses. 
The move means other key interest rates are likely to head lower soon, possibly within days, as the PBOC typically moves its suite of policy tools in concert. The PBOC could cut the interest rate on its medium-term lending facility that funnels loans to banks when it announces its monthly decision on that facility on Thursday, economists say. Cuts to banks&rsquo loan prime rates&mdash the rates banks charge high-quality borrowers for mortgages and other loans&mdash could follow next Tuesday, when a decision on them is scheduled. 
In another sign of the shift to ease policy, some of China&rsquo s largest commercial banks cut their deposit rates last week, giving them more room to lower interest rates on new loans without squeezing profits. 
Economists say Tuesday&rsquo s rate cut shows government and central-bank officials are growing increasingly concerned that China&rsquo s economic recovery is in danger of petering out. 
&ldquo Policy makers have switched to proactive easing from wait-and-see,&rdquo economists at Citi said in a note to clients Tuesday.

China&rsquo s economy rebounded strongly in the first quarter after authorities ditched their draconian Covid-19 controls around the turn of the year. But since then the recovery has been losing steam, with factories and exports under pressure from a darkening global backdrop and consumers reluctant to step up spending to fill the gap. 
Inflation figures last week showed China is at risk of experiencing a spell of falling prices, or deflation, a sign of feeble spending. A bundle of data due Thursday on retail sales, investment and industrial production is expected to show the economic slowdown extended into May. 
PBOC Gov. Yi Gang in remarks released last week signaled the central bank intended to step up its support for the economy, though he said he&rsquo s confident growth can reach this year&rsquo s target of around 5% set by the government.

Economists say it isn&rsquo t clear if lowering borrowing costs will do much to rekindle China&rsquo s recovery. Weak income growth through the pandemic means households are wary of spending and taking on new loans. Consumer confidence is fragile and private-sector investment barely grew in the first quarter. 
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The 10-Point.
A personal, guided tour to the best scoops and stories every day in The Wall Street Journal.
 
 
 
 
 
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&ldquo This is really a blunt policy tool,&rdquo said Louise Loo, lead China economist at Oxford Economics in Singapore. Making lending cheaper won&rsquo t help that much if there&rsquo s limited demand for loans, she said. 
Economists say officials may need to use more targeted policy tools to reignite consumer spending and give businesses the confidence to invest. Those could include tax cuts or subsidies for purchases of electric vehicles and other big ticket items, as well as policies aimed at reviving a moribund real-estate sector and financial support for small and midsize businesses.

 
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chartistkao1
Supreme
13-Jun-2023 16:07     
 
chartistkao1 About Contact  Quote this Post!  
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 Alert Admin 		when us suck all the usd to the big us vacuum T-bills
the PBOC has taken a looser policy stance by cutting its interest rate on seven-day reverse repurchase operations. This indicates a reduction in short-term lending rates and potentially a more accommodative monetary policy. In contrast, the U.S. Federal Reserve and other major central banks have been raising interest rates in an effort to address stubbornly high inflation.
It' s important to note that central banks adjust their monetary policies based on their respective economic conditions, inflation levels, and policy objectives. Changes in interest rates and liquidity injections are common tools used by central banks to manage economic conditions. The specific reasons behind the PBOC' s decision would require further analysis of the Chinese economy and its unique circumstances at the time.
 

chartistkao1      ( Date: 13-Jun-2023 16:02) Posted:

China&rsquo s Central Bank Moves to Shore Up Recovery

Unexpected trim in key lending rate likely heralds further steps to stimulate China&rsquo s economy.

SINGAPORE&mdash China&rsquo s central bank unexpectedly trimmed a key lending rate, a sign of policy makers&rsquo growing unease over a sputtering recovery that likely foreshadows further steps to nudge China&rsquo s economy back on track. 
Economists, though, say lower borrowing costs might not do much to help China&rsquo s weak recovery, as households and businesses have so far shown little appetite to borrow amid already high debt levels and subdued prospects for growth. 
 
The shift to looser policy by the People&rsquo s Bank of China stands in contrast to the U.S. Federal Reserve and most other major central banks, which continue to raise interest rates in an effort to cool stubbornly high inflation. 
The PBOC said Tuesday it cut the interest rate on seven-day reverse repurchase operations to 1.9% from 2.0% previously, its first cut in short-term lending rates since August. The central bank also said it injected 2 billion yuan, equivalent to about $280 million, into the banking system at the new, lower rate.

So-called repo and reverse repo transactions are key tools used by central banks, including the Fed, to manage banks&rsquo funding needs and influence interest rates on loans to households and businesses. 
The move means other key interest rates are likely to head lower soon, possibly within days, as the PBOC typically moves its suite of policy tools in concert. The PBOC could cut the interest rate on its medium-term lending facility that funnels loans to banks when it announces its monthly decision on that facility on Thursday, economists say. Cuts to banks&rsquo loan prime rates&mdash the rates banks charge high-quality borrowers for mortgages and other loans&mdash could follow next Tuesday, when a decision on them is scheduled. 
In another sign of the shift to ease policy, some of China&rsquo s largest commercial banks cut their deposit rates last week, giving them more room to lower interest rates on new loans without squeezing profits. 
Economists say Tuesday&rsquo s rate cut shows government and central-bank officials are growing increasingly concerned that China&rsquo s economic recovery is in danger of petering out. 
&ldquo Policy makers have switched to proactive easing from wait-and-see,&rdquo economists at Citi said in a note to clients Tuesday.

China&rsquo s economy rebounded strongly in the first quarter after authorities ditched their draconian Covid-19 controls around the turn of the year. But since then the recovery has been losing steam, with factories and exports under pressure from a darkening global backdrop and consumers reluctant to step up spending to fill the gap. 
Inflation figures last week showed China is at risk of experiencing a spell of falling prices, or deflation, a sign of feeble spending. A bundle of data due Thursday on retail sales, investment and industrial production is expected to show the economic slowdown extended into May. 
PBOC Gov. Yi Gang in remarks released last week signaled the central bank intended to step up its support for the economy, though he said he&rsquo s confident growth can reach this year&rsquo s target of around 5% set by the government.

Economists say it isn&rsquo t clear if lowering borrowing costs will do much to rekindle China&rsquo s recovery. Weak income growth through the pandemic means households are wary of spending and taking on new loans. Consumer confidence is fragile and private-sector investment barely grew in the first quarter. 
Newsletter Sign-up
The 10-Point.
A personal, guided tour to the best scoops and stories every day in The Wall Street Journal.
 
 
 
 
 
Subscribe
&ldquo This is really a blunt policy tool,&rdquo said Louise Loo, lead China economist at Oxford Economics in Singapore. Making lending cheaper won&rsquo t help that much if there&rsquo s limited demand for loans, she said. 
Economists say officials may need to use more targeted policy tools to reignite consumer spending and give businesses the confidence to invest. Those could include tax cuts or subsidies for purchases of electric vehicles and other big ticket items, as well as policies aimed at reviving a moribund real-estate sector and financial support for small and midsize businesses.

 

chartistkao1      ( Date: 13-Jun-2023 15:57) Posted:

HSBC Eyes Long-Awaited Turnaround

The bank is starting to make billions of dollars more from higher interest rates. Investors remain skeptical.(0005=hkd60)

 

HSBC Eyes Long-Awaited Turnaround

The bank is starting to make billions of dollars more from higher interest rates. Investors remain skeptical.

 
Updated Sept. 15, 2022 4:33 am ET
 
 
 
 
 

A HSBC branch in Hong Kong. The banking giant is starting to benefit from rising rates. Photo: Budrul Chukrut/SOPA Images/Associated Press
LONDON&mdash HSBC Holdings PLC, Europe&rsquo s largest bank, is counting on rising interest rates to help revive its share price after a sluggish decade&mdash and to fend off an attack from its biggest shareholder.
The British bank has for years asked investors for patience as it retrenches from some major markets and sharpened its focus on Asia. That strategy has kept the bank&rsquo s finances steady&mdash but it has also kept a lid on profits and depressed its stock. HSBC&rsquo s HSBC -0.94%decrease red down pointing triangle
share price in Hong Kong remains roughly a third of its 2007 peak.
 
 
Now, HSBC says business is primed to take off, mainly because rising interest rates will boost its earnings.
Investors remain skeptical. &ldquo There&rsquo s a fundamental disconnect there,&rdquo between the optimism among HSBC executives and shareholders&rsquo unease, said John Cronin, a banking analyst at Goodbody Stockbrokers. &ldquo I think the share price is telling you the market is very, very worried about recession risks.&rdquo
Newsletter Sign-up
Markets A.M.
A pre-markets primer packed with news, trends and ideas. Plus, up-to-the-minute market data.
 
 
 
 
 
Subscribe
This year, central banks including the Federal Reserve, European Central Bank and Bank of England have been rapidly raising interest rates to tamp down inflation. That is generally bad for corporations and households. But it is good news for banks like HSBC, which can now make more money on loans they extend to consumers and businesses.
HSBC says that development&mdash coupled with retail branch closures, office downsizing and other cost cutting&mdash will return a key measure of profitability to its highest level in a decade by next year. 
It said in August that for each percentage point jump in market-based interest rates, the money it earns annually from interest would rise by about $4.7 billion. 
&ldquo It&rsquo s revolutionary,&rdquo for HSBC that rates are rising back toward historical norms, said Alastair Ryan, a Bank of America banking analyst. &ldquo HSBC&rsquo s business model was just structurally really disadvantaged by that period of zero rates.&rdquo
After the 2008 global financial crisis, HSBC drastically cut back in various areas, for example, exiting its U.S. home-lending business. It has expanded in offering insurance&mdash particularly in Hong Kong, its biggest market&mdash and facilitating trade. Meanwhile, HSBC has relied less on businesses such as investment banking and credit cards that have generated big returns for its peers like JPMorgan Chase & Co.
 
Now that interest rates are rising, HSBC will continue to have a big source of cheap capital&mdash the customer accounts that pay depositors little or no interest&mdash that it can use to fund lending that generates higher returns, such as mortgages. Also, HSBC has a huge pile of cash reserves at the Bank of England for which it will be paid more in interest.
HSBC said in August that the amount it earns in interest&mdash net interest income&mdash is set to rise 15% this year and another 19% next year, to $37 billion.
&ldquo You&rsquo re going from a decade of unacceptably low profitability to a period of quite reasonable profitability,&rdquo Mr. Ryan said. &ldquo It&rsquo s going from a bank not working for shareholders to one that should be working pretty well.&rdquo
HSBC&rsquo s top shareholder, China&rsquo s Ping An Insurance, has pushed to revamp the company in a way that would isolate its Asian operations from its operations elsewhere, in a bid to boost its share price. 
 
HSBC, in a rebuttal, said in August that higher interest income is one reason it expects its return on tangible equity&mdash a key measure of profitability&mdash to reach 12% next year, its highest level in a decade. The bank said a restructuring would disrupt that progress. 
Rising interest rates carry their own risks for banks. The central-bank moves are designed to cool the economy by slowing demand. If loan demand weakens and borrowers default on loans, banks like HSBC stand to suffer losses.
The stakes are higher in this interest-rate cycle because rocketing inflation is forcing monetary authorities to act forcefully even when economies aren&rsquo t in great shape. In August, for example, the Bank of England warned that Britain&mdash one of HSBC&rsquo s biggest markets&mdash could be headed for a recession that would last five quarters.
In Hong Kong, HSBC&rsquo s share price has risen 1.5% this year through Wednesday to 47.60 Hong Kong dollars, the equivalent of $6.06. By contrast, the broader Hang Seng Index has fallen 19%. The S& P Global 1200 banks index is down 17% over the same period.
HSBC&rsquo s market capitalization&mdash or the combined value of all of its shares&mdash remains below its book value&mdash or the net value of the company&rsquo s assets that it reports in its financial statements. That suggests investors believe the company will struggle to create value for shareholders.
Manus Costello, global head of research at Autonomous Research, said that after years of HSBC missing its financial targets, investors are effectively saying, &ldquo Show me, don&rsquo t tell.&rdquo
 


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chartistkao1
Supreme
13-Jun-2023 16:02     
 
chartistkao1 About Contact  Quote this Post!  
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 Alert Admin

China&rsquo s Central Bank Moves to Shore Up Recovery

Unexpected trim in key lending rate likely heralds further steps to stimulate China&rsquo s economy.

SINGAPORE&mdash China&rsquo s central bank unexpectedly trimmed a key lending rate, a sign of policy makers&rsquo growing unease over a sputtering recovery that likely foreshadows further steps to nudge China&rsquo s economy back on track. 
Economists, though, say lower borrowing costs might not do much to help China&rsquo s weak recovery, as households and businesses have so far shown little appetite to borrow amid already high debt levels and subdued prospects for growth. 
 
The shift to looser policy by the People&rsquo s Bank of China stands in contrast to the U.S. Federal Reserve and most other major central banks, which continue to raise interest rates in an effort to cool stubbornly high inflation. 
The PBOC said Tuesday it cut the interest rate on seven-day reverse repurchase operations to 1.9% from 2.0% previously, its first cut in short-term lending rates since August. The central bank also said it injected 2 billion yuan, equivalent to about $280 million, into the banking system at the new, lower rate.

So-called repo and reverse repo transactions are key tools used by central banks, including the Fed, to manage banks&rsquo funding needs and influence interest rates on loans to households and businesses. 
The move means other key interest rates are likely to head lower soon, possibly within days, as the PBOC typically moves its suite of policy tools in concert. The PBOC could cut the interest rate on its medium-term lending facility that funnels loans to banks when it announces its monthly decision on that facility on Thursday, economists say. Cuts to banks&rsquo loan prime rates&mdash the rates banks charge high-quality borrowers for mortgages and other loans&mdash could follow next Tuesday, when a decision on them is scheduled. 
In another sign of the shift to ease policy, some of China&rsquo s largest commercial banks cut their deposit rates last week, giving them more room to lower interest rates on new loans without squeezing profits. 
Economists say Tuesday&rsquo s rate cut shows government and central-bank officials are growing increasingly concerned that China&rsquo s economic recovery is in danger of petering out. 
&ldquo Policy makers have switched to proactive easing from wait-and-see,&rdquo economists at Citi said in a note to clients Tuesday.

China&rsquo s economy rebounded strongly in the first quarter after authorities ditched their draconian Covid-19 controls around the turn of the year. But since then the recovery has been losing steam, with factories and exports under pressure from a darkening global backdrop and consumers reluctant to step up spending to fill the gap. 
Inflation figures last week showed China is at risk of experiencing a spell of falling prices, or deflation, a sign of feeble spending. A bundle of data due Thursday on retail sales, investment and industrial production is expected to show the economic slowdown extended into May. 
PBOC Gov. Yi Gang in remarks released last week signaled the central bank intended to step up its support for the economy, though he said he&rsquo s confident growth can reach this year&rsquo s target of around 5% set by the government.

Economists say it isn&rsquo t clear if lowering borrowing costs will do much to rekindle China&rsquo s recovery. Weak income growth through the pandemic means households are wary of spending and taking on new loans. Consumer confidence is fragile and private-sector investment barely grew in the first quarter. 
Newsletter Sign-up
The 10-Point.
A personal, guided tour to the best scoops and stories every day in The Wall Street Journal.
 
 
 
 
 
Subscribe
&ldquo This is really a blunt policy tool,&rdquo said Louise Loo, lead China economist at Oxford Economics in Singapore. Making lending cheaper won&rsquo t help that much if there&rsquo s limited demand for loans, she said. 
Economists say officials may need to use more targeted policy tools to reignite consumer spending and give businesses the confidence to invest. Those could include tax cuts or subsidies for purchases of electric vehicles and other big ticket items, as well as policies aimed at reviving a moribund real-estate sector and financial support for small and midsize businesses.

 

chartistkao1      ( Date: 13-Jun-2023 15:57) Posted:

HSBC Eyes Long-Awaited Turnaround

The bank is starting to make billions of dollars more from higher interest rates. Investors remain skeptical.(0005=hkd60)

 

HSBC Eyes Long-Awaited Turnaround

The bank is starting to make billions of dollars more from higher interest rates. Investors remain skeptical.

 
Updated Sept. 15, 2022 4:33 am ET
 
 
 
 
 

A HSBC branch in Hong Kong. The banking giant is starting to benefit from rising rates. Photo: Budrul Chukrut/SOPA Images/Associated Press
LONDON&mdash HSBC Holdings PLC, Europe&rsquo s largest bank, is counting on rising interest rates to help revive its share price after a sluggish decade&mdash and to fend off an attack from its biggest shareholder.
The British bank has for years asked investors for patience as it retrenches from some major markets and sharpened its focus on Asia. That strategy has kept the bank&rsquo s finances steady&mdash but it has also kept a lid on profits and depressed its stock. HSBC&rsquo s HSBC -0.94%decrease red down pointing triangle
share price in Hong Kong remains roughly a third of its 2007 peak.
 
 
Now, HSBC says business is primed to take off, mainly because rising interest rates will boost its earnings.
Investors remain skeptical. &ldquo There&rsquo s a fundamental disconnect there,&rdquo between the optimism among HSBC executives and shareholders&rsquo unease, said John Cronin, a banking analyst at Goodbody Stockbrokers. &ldquo I think the share price is telling you the market is very, very worried about recession risks.&rdquo
Newsletter Sign-up
Markets A.M.
A pre-markets primer packed with news, trends and ideas. Plus, up-to-the-minute market data.
 
 
 
 
 
Subscribe
This year, central banks including the Federal Reserve, European Central Bank and Bank of England have been rapidly raising interest rates to tamp down inflation. That is generally bad for corporations and households. But it is good news for banks like HSBC, which can now make more money on loans they extend to consumers and businesses.
HSBC says that development&mdash coupled with retail branch closures, office downsizing and other cost cutting&mdash will return a key measure of profitability to its highest level in a decade by next year. 
It said in August that for each percentage point jump in market-based interest rates, the money it earns annually from interest would rise by about $4.7 billion. 
&ldquo It&rsquo s revolutionary,&rdquo for HSBC that rates are rising back toward historical norms, said Alastair Ryan, a Bank of America banking analyst. &ldquo HSBC&rsquo s business model was just structurally really disadvantaged by that period of zero rates.&rdquo
After the 2008 global financial crisis, HSBC drastically cut back in various areas, for example, exiting its U.S. home-lending business. It has expanded in offering insurance&mdash particularly in Hong Kong, its biggest market&mdash and facilitating trade. Meanwhile, HSBC has relied less on businesses such as investment banking and credit cards that have generated big returns for its peers like JPMorgan Chase & Co.
 
Now that interest rates are rising, HSBC will continue to have a big source of cheap capital&mdash the customer accounts that pay depositors little or no interest&mdash that it can use to fund lending that generates higher returns, such as mortgages. Also, HSBC has a huge pile of cash reserves at the Bank of England for which it will be paid more in interest.
HSBC said in August that the amount it earns in interest&mdash net interest income&mdash is set to rise 15% this year and another 19% next year, to $37 billion.
&ldquo You&rsquo re going from a decade of unacceptably low profitability to a period of quite reasonable profitability,&rdquo Mr. Ryan said. &ldquo It&rsquo s going from a bank not working for shareholders to one that should be working pretty well.&rdquo
HSBC&rsquo s top shareholder, China&rsquo s Ping An Insurance, has pushed to revamp the company in a way that would isolate its Asian operations from its operations elsewhere, in a bid to boost its share price. 
 
HSBC, in a rebuttal, said in August that higher interest income is one reason it expects its return on tangible equity&mdash a key measure of profitability&mdash to reach 12% next year, its highest level in a decade. The bank said a restructuring would disrupt that progress. 
Rising interest rates carry their own risks for banks. The central-bank moves are designed to cool the economy by slowing demand. If loan demand weakens and borrowers default on loans, banks like HSBC stand to suffer losses.
The stakes are higher in this interest-rate cycle because rocketing inflation is forcing monetary authorities to act forcefully even when economies aren&rsquo t in great shape. In August, for example, the Bank of England warned that Britain&mdash one of HSBC&rsquo s biggest markets&mdash could be headed for a recession that would last five quarters.
In Hong Kong, HSBC&rsquo s share price has risen 1.5% this year through Wednesday to 47.60 Hong Kong dollars, the equivalent of $6.06. By contrast, the broader Hang Seng Index has fallen 19%. The S& P Global 1200 banks index is down 17% over the same period.
HSBC&rsquo s market capitalization&mdash or the combined value of all of its shares&mdash remains below its book value&mdash or the net value of the company&rsquo s assets that it reports in its financial statements. That suggests investors believe the company will struggle to create value for shareholders.
Manus Costello, global head of research at Autonomous Research, said that after years of HSBC missing its financial targets, investors are effectively saying, &ldquo Show me, don&rsquo t tell.&rdquo
 


chartistkao1      ( Date: 13-Jun-2023 15:52) Posted:

Soaring corporate profits are a big part of the inflation problem, and keeping interest rates high is the best way to rein them in, according to Bloomberg&rsquo s latest poll of professional and retail investors.
Some 90% of 288 respondents in a Markets Live Pulse survey said companies on both sides of the Atlantic have been raising prices in excess of their own costs since the pandemic began in 2020. Almost four out of five said that tight monetary policy is the right way to tackle profit-led inflation.
One of the worst bouts of inflation in decades has spurred a search for explanations &ndash with broken supply chains, big-spending governments and rising wages all shouldering some of the blame. But the surge in corporate markups is another potential cause that deserves attention, and is now getting it.
Margins soared in the initial pandemic years, and have defied convention by remaining historically high since then. That raises two key questions: Are fatter profits helping to entrench inflation, and if so, what should be done about it? It&rsquo s part of a wider debate about whether different kinds of price pressures need different tools to address them, instead of the one-size-fits-all response of higher interest rates.
MLIV Pulse survey participants largely took the view that monetary tightening by central banks is the appropriate response to profit-driven price rises. About one-quarter disagreed, offering alternative solutions including the use of corporate tax rates against price gougers, and tougher anti-monopoly rules.
See also:  US' s debt-ceiling crisis is over but the debt crisis remains
The retail sector has seen the most opportunistic pricing during the pandemic, some 67% of respondents said. The energy industry came a distant second, with about one-sixth of votes. Those findings may reflect the fact that people buy basic consumption goods more often than bigger-ticket items, so they&rsquo re likelier to notice when the prices jump &ndash an idea known as &ldquo collision frequency.&rsquo &rsquo
The unique circumstances of the pandemic &ndash severe supply constraints, followed by an unprecedented burst of stimulus-fueled demand &ndash lie behind the widening of profit margins, which hit 70-year highs in the US.
See also:  Fed should consider a half-point July rate hike if June is a skip: former Treasury Secretary Lawrence Summers
That&rsquo s unlikely to prove permanent, according to most survey respondents, who expect margins in the aggregate will recede to where they were before Covid &ndash although the majority was only a slim one, at 53%.
Standard economic theory holds that profit margins are &ldquo mean-reverting&rsquo &rsquo &ndash in other words, they tend to be pulled back to normal levels. It&rsquo s supposed to work like this: An industry with high profits should attract new entrants, with increased competition forcing margins lower.
But reality has rudely refused to conform. Margins were already elevated before the pandemic, and they&rsquo re now even more so.
Various theories have sought to explain why this happened. Isabella Weber, an economist at the University of Massachusetts Amherst,  argues  that much of the US&rsquo s recent inflation is &ldquo sellers&rsquo inflation,&rsquo &rsquo stemming from the ability of dominant firms to exploit their monopolistic position in order to raise prices. Weber  notes  that &ldquo bottlenecks can create temporary monopoly power which can render it safe to hike prices not only to protect but to increase profits.&rsquo &rsquo
Paul Donovan, chief global economist at UBS AG, refers to this as &ldquo profit-led inflation&rsquo &rsquo &ndash companies using the cover of broad-based price increases to raise their own prices more than they have to -- and more colloquially the idea has become known as &ldquo greedflation.&rsquo &rsquo
However it&rsquo s labeled, if firms have been taking advantage of monopolies to raise their margins, they will be loath to lower them by much. Who wants to award themselves a pay cut right after getting a raise?
Margins are beginning to fall from their highs as firms rebalance the price-versus-volume trade-off, but they remain significantly higher than in the pre-Covid years.
To stay ahead of Singapore and the region&rsquo s corporate and economic trends,  click here for Latest Section
This could well continue to favour some equities. When asked what type of stock stands to benefit the most from profit-led inflation, almost three-quarters of respondents opted for firms with strong pricing power. The logic there is that until a rising backlash against monopolies or oligopolies gets properly underway, it makes sense to own the companies which can exploit the inflationary backdrop the most.
Ultimately &ldquo greedflation&rsquo &rsquo is not likely to lead to prolonged sticky inflation, according to a majority of survey respondents.
Only 10% said it will take more than five years for the headline rate of US consumer-price inflation to return to a stable average of around 2%. More than half reckon inflation will return to 2% levels within two years &ndash in line with the market view, based on the current two-year breakeven rate of about 2.1%.
So what can be done specifically to stem profit-led inflation? The 24% of survey respondents who don&rsquo t believe tighter monetary policy is the answer came up with some thoughtful alternatives.
Among the frequent suggestions were better enforcement of antitrust laws around mergers, along with other efforts to stimulate more competition. There was support for higher corporate taxes, potentially including windfall charges in areas where price-gouging is identified. &ldquo Tax them to oblivion&rsquo &rsquo was one blunt recommendation.
Inflation breeds resentment by exacerbating inequality. Once pandemic savings are depleted that resentment has the potential to mushroom, and firms&rsquo profit honeymoon will likely face a much more challenging and regulated future. In that case, tighter monetary policy could be the least of their worries.
MLIV Pulse is a weekly survey of Bloomberg News readers on the terminal and online, conducted by Bloomberg&rsquo s Markets Live team, which also runs an MLIV Blog on the terminal. Simon White is a macro strategist who writes for the MLIV blog and also has his own MacroScope column, a wide-angled take on the most important macro and market topics, rising above the short-term noise to get the big picture.
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chartistkao1
Supreme
13-Jun-2023 15:57     
 
chartistkao1 About Contact  Quote this Post!  
  x 0
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 Alert Admin

HSBC Eyes Long-Awaited Turnaround

The bank is starting to make billions of dollars more from higher interest rates. Investors remain skeptical.(0005=hkd60)

 

HSBC Eyes Long-Awaited Turnaround

The bank is starting to make billions of dollars more from higher interest rates. Investors remain skeptical.

 
Updated Sept. 15, 2022 4:33 am ET
 
 
 
 
 

A HSBC branch in Hong Kong. The banking giant is starting to benefit from rising rates. Photo: Budrul Chukrut/SOPA Images/Associated Press
LONDON&mdash HSBC Holdings PLC, Europe&rsquo s largest bank, is counting on rising interest rates to help revive its share price after a sluggish decade&mdash and to fend off an attack from its biggest shareholder.
The British bank has for years asked investors for patience as it retrenches from some major markets and sharpened its focus on Asia. That strategy has kept the bank&rsquo s finances steady&mdash but it has also kept a lid on profits and depressed its stock. HSBC&rsquo s HSBC -0.94%decrease red down pointing triangle
share price in Hong Kong remains roughly a third of its 2007 peak.
 
 
Now, HSBC says business is primed to take off, mainly because rising interest rates will boost its earnings.
Investors remain skeptical. &ldquo There&rsquo s a fundamental disconnect there,&rdquo between the optimism among HSBC executives and shareholders&rsquo unease, said John Cronin, a banking analyst at Goodbody Stockbrokers. &ldquo I think the share price is telling you the market is very, very worried about recession risks.&rdquo
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This year, central banks including the Federal Reserve, European Central Bank and Bank of England have been rapidly raising interest rates to tamp down inflation. That is generally bad for corporations and households. But it is good news for banks like HSBC, which can now make more money on loans they extend to consumers and businesses.
HSBC says that development&mdash coupled with retail branch closures, office downsizing and other cost cutting&mdash will return a key measure of profitability to its highest level in a decade by next year. 
It said in August that for each percentage point jump in market-based interest rates, the money it earns annually from interest would rise by about $4.7 billion. 
&ldquo It&rsquo s revolutionary,&rdquo for HSBC that rates are rising back toward historical norms, said Alastair Ryan, a Bank of America banking analyst. &ldquo HSBC&rsquo s business model was just structurally really disadvantaged by that period of zero rates.&rdquo
After the 2008 global financial crisis, HSBC drastically cut back in various areas, for example, exiting its U.S. home-lending business. It has expanded in offering insurance&mdash particularly in Hong Kong, its biggest market&mdash and facilitating trade. Meanwhile, HSBC has relied less on businesses such as investment banking and credit cards that have generated big returns for its peers like JPMorgan Chase & Co.
 
Now that interest rates are rising, HSBC will continue to have a big source of cheap capital&mdash the customer accounts that pay depositors little or no interest&mdash that it can use to fund lending that generates higher returns, such as mortgages. Also, HSBC has a huge pile of cash reserves at the Bank of England for which it will be paid more in interest.
HSBC said in August that the amount it earns in interest&mdash net interest income&mdash is set to rise 15% this year and another 19% next year, to $37 billion.
&ldquo You&rsquo re going from a decade of unacceptably low profitability to a period of quite reasonable profitability,&rdquo Mr. Ryan said. &ldquo It&rsquo s going from a bank not working for shareholders to one that should be working pretty well.&rdquo
HSBC&rsquo s top shareholder, China&rsquo s Ping An Insurance, has pushed to revamp the company in a way that would isolate its Asian operations from its operations elsewhere, in a bid to boost its share price. 
 
HSBC, in a rebuttal, said in August that higher interest income is one reason it expects its return on tangible equity&mdash a key measure of profitability&mdash to reach 12% next year, its highest level in a decade. The bank said a restructuring would disrupt that progress. 
Rising interest rates carry their own risks for banks. The central-bank moves are designed to cool the economy by slowing demand. If loan demand weakens and borrowers default on loans, banks like HSBC stand to suffer losses.
The stakes are higher in this interest-rate cycle because rocketing inflation is forcing monetary authorities to act forcefully even when economies aren&rsquo t in great shape. In August, for example, the Bank of England warned that Britain&mdash one of HSBC&rsquo s biggest markets&mdash could be headed for a recession that would last five quarters.
In Hong Kong, HSBC&rsquo s share price has risen 1.5% this year through Wednesday to 47.60 Hong Kong dollars, the equivalent of $6.06. By contrast, the broader Hang Seng Index has fallen 19%. The S& P Global 1200 banks index is down 17% over the same period.
HSBC&rsquo s market capitalization&mdash or the combined value of all of its shares&mdash remains below its book value&mdash or the net value of the company&rsquo s assets that it reports in its financial statements. That suggests investors believe the company will struggle to create value for shareholders.
Manus Costello, global head of research at Autonomous Research, said that after years of HSBC missing its financial targets, investors are effectively saying, &ldquo Show me, don&rsquo t tell.&rdquo
 


chartistkao1      ( Date: 13-Jun-2023 15:52) Posted:

Soaring corporate profits are a big part of the inflation problem, and keeping interest rates high is the best way to rein them in, according to Bloomberg&rsquo s latest poll of professional and retail investors.
Some 90% of 288 respondents in a Markets Live Pulse survey said companies on both sides of the Atlantic have been raising prices in excess of their own costs since the pandemic began in 2020. Almost four out of five said that tight monetary policy is the right way to tackle profit-led inflation.
One of the worst bouts of inflation in decades has spurred a search for explanations &ndash with broken supply chains, big-spending governments and rising wages all shouldering some of the blame. But the surge in corporate markups is another potential cause that deserves attention, and is now getting it.
Margins soared in the initial pandemic years, and have defied convention by remaining historically high since then. That raises two key questions: Are fatter profits helping to entrench inflation, and if so, what should be done about it? It&rsquo s part of a wider debate about whether different kinds of price pressures need different tools to address them, instead of the one-size-fits-all response of higher interest rates.
MLIV Pulse survey participants largely took the view that monetary tightening by central banks is the appropriate response to profit-driven price rises. About one-quarter disagreed, offering alternative solutions including the use of corporate tax rates against price gougers, and tougher anti-monopoly rules.
See also:  US' s debt-ceiling crisis is over but the debt crisis remains
The retail sector has seen the most opportunistic pricing during the pandemic, some 67% of respondents said. The energy industry came a distant second, with about one-sixth of votes. Those findings may reflect the fact that people buy basic consumption goods more often than bigger-ticket items, so they&rsquo re likelier to notice when the prices jump &ndash an idea known as &ldquo collision frequency.&rsquo &rsquo
The unique circumstances of the pandemic &ndash severe supply constraints, followed by an unprecedented burst of stimulus-fueled demand &ndash lie behind the widening of profit margins, which hit 70-year highs in the US.
See also:  Fed should consider a half-point July rate hike if June is a skip: former Treasury Secretary Lawrence Summers
That&rsquo s unlikely to prove permanent, according to most survey respondents, who expect margins in the aggregate will recede to where they were before Covid &ndash although the majority was only a slim one, at 53%.
Standard economic theory holds that profit margins are &ldquo mean-reverting&rsquo &rsquo &ndash in other words, they tend to be pulled back to normal levels. It&rsquo s supposed to work like this: An industry with high profits should attract new entrants, with increased competition forcing margins lower.
But reality has rudely refused to conform. Margins were already elevated before the pandemic, and they&rsquo re now even more so.
Various theories have sought to explain why this happened. Isabella Weber, an economist at the University of Massachusetts Amherst,  argues  that much of the US&rsquo s recent inflation is &ldquo sellers&rsquo inflation,&rsquo &rsquo stemming from the ability of dominant firms to exploit their monopolistic position in order to raise prices. Weber  notes  that &ldquo bottlenecks can create temporary monopoly power which can render it safe to hike prices not only to protect but to increase profits.&rsquo &rsquo
Paul Donovan, chief global economist at UBS AG, refers to this as &ldquo profit-led inflation&rsquo &rsquo &ndash companies using the cover of broad-based price increases to raise their own prices more than they have to -- and more colloquially the idea has become known as &ldquo greedflation.&rsquo &rsquo
However it&rsquo s labeled, if firms have been taking advantage of monopolies to raise their margins, they will be loath to lower them by much. Who wants to award themselves a pay cut right after getting a raise?
Margins are beginning to fall from their highs as firms rebalance the price-versus-volume trade-off, but they remain significantly higher than in the pre-Covid years.
To stay ahead of Singapore and the region&rsquo s corporate and economic trends,  click here for Latest Section
This could well continue to favour some equities. When asked what type of stock stands to benefit the most from profit-led inflation, almost three-quarters of respondents opted for firms with strong pricing power. The logic there is that until a rising backlash against monopolies or oligopolies gets properly underway, it makes sense to own the companies which can exploit the inflationary backdrop the most.
Ultimately &ldquo greedflation&rsquo &rsquo is not likely to lead to prolonged sticky inflation, according to a majority of survey respondents.
Only 10% said it will take more than five years for the headline rate of US consumer-price inflation to return to a stable average of around 2%. More than half reckon inflation will return to 2% levels within two years &ndash in line with the market view, based on the current two-year breakeven rate of about 2.1%.
So what can be done specifically to stem profit-led inflation? The 24% of survey respondents who don&rsquo t believe tighter monetary policy is the answer came up with some thoughtful alternatives.
Among the frequent suggestions were better enforcement of antitrust laws around mergers, along with other efforts to stimulate more competition. There was support for higher corporate taxes, potentially including windfall charges in areas where price-gouging is identified. &ldquo Tax them to oblivion&rsquo &rsquo was one blunt recommendation.
Inflation breeds resentment by exacerbating inequality. Once pandemic savings are depleted that resentment has the potential to mushroom, and firms&rsquo profit honeymoon will likely face a much more challenging and regulated future. In that case, tighter monetary policy could be the least of their worries.
MLIV Pulse is a weekly survey of Bloomberg News readers on the terminal and online, conducted by Bloomberg&rsquo s Markets Live team, which also runs an MLIV Blog on the terminal. Simon White is a macro strategist who writes for the MLIV blog and also has his own MacroScope column, a wide-angled take on the most important macro and market topics, rising above the short-term noise to get the big picture.


chartistkao1      ( Date: 13-Jun-2023 15:45) Posted:

SINGAPORE (March 27): Singapore Airlines, facing unprecedented stress from the Covid-19 outbreak, plans to tap shareholders and investors to raise up to $15 billion so that it can stay aloft, the company announced just before midnight on March 26.
The flag carrier plans to offer all shareholders the chance to subscribe for $5.3 billion in new shares. Shareholders who hold two existing SIA shares are entitled to subscribe to three new SIA shares at $3 each.
The offer price of $3 per rights share is a 53.8% discount off SIA&rsquo s last traded price of $6.50 before trading halt was called before the market opened on March 26.
SIA will also raise up to another $9.7 billion from a 10-year Mandatory Convertible Bonds (MCB). The convertible bonds will be raised via an initial tranche of $3.5 billion and followed by subsequent tranches of $6.2 billion.
SIA&rsquo s largest shareholder Temasek Holdings, which owns more than 55% of the airline, will vote in favour of the resolutions and subscribe for its full entitlement. Temasek will also take up the rights that other smaller shareholders don&rsquo t want.
In addition, SIA has also arranged a $4 billion bridge loan facility with fellow Temasek-linked company, DBS Bank, which will go towards the airline&rsquo s near-term liquidity requirements.

The fundraising will be subjected to shareholders&rsquo approval at an EGM to be held.
&ldquo This is an exceptional time for the SIA Group,&rdquo says SIA chairman Peter Seah. &ldquo Since the onset of the Covid-19 outbreak, passenger demand has fallen precipitously amid an unprecedented closure of borders worldwide. We moved quickly to cut capacity and implement cost-cutting measures,&rdquo he adds.
With the Covid-19 outbreak worsening rapidly, the airline on March 23 announced that it has grounded 96% of its fleet. Remaining flights, largely empty, are those flying Singaporeans back from overseas from other virus-inflicted countries.

Temasek International CEO, Dilhan Pillay Sandrasegara notes that SIA was enjoying strong growth before Covid-19 struck. &ldquo It has also committed to fleet renewal as part of its transformation journey. This transaction will not only tide SIA over a short term financial liquidity challenge, but will position it for growth beyond the pandemic,&rdquo he says.
&ldquo We fully support SIA&rsquo s plans to transform itself. This includes the modernisation of its fleet. The delivery of a new generation aircraft over the next few years will provide better fuel efficiencies as well as meet its capacity expansion strategy,&rdquo adds Sandrasegara.
This Temasek-led rescue of SIA was disclosed earlier in the afternoon of March 26, when deputy prime minister Heng Swee Keat announced the supplementary package worth $48.4 billion to help deal with the Covid-19 outbreak.
During his speech when the market was still trading, Heng said that SIA, with the backing of Temasek Holdings, will be undertaking a &ldquo corporate action&rdquo .
While Heng did not provide further details in his speech, the good news is evident. As SIA shares were halted before market opened on March 26, investors piled in on SIA Engineering, the separately-listed subsidiary, instead. It gained 21 cents, or 12.57%, to close at $1.88 on March 26.
However, that&rsquo s little comfort to shareholders who have seen shares of both companies getting hammered in the drastic sell-down over the past few weeks. SIA, for one, last traded at $6.50, and is down 28.6% year to date. SIA Engineering, on the other hand, is down 33.8% over the same period.
As at Dec 31, 2019, the company has total borrowings of $7.7 billion, comprising bank borrowings and bonds. The company has a bond issuance of $500 million with a coupon rate of 3.22% that will mature on July 9. The company also has salaries and other fixed costs to pay. Yet the company has cash and cash equivalents of only $1.6 billion.
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chartistkao1
Supreme
13-Jun-2023 15:52     
 
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 Alert Admin 		Soaring corporate profits are a big part of the inflation problem, and keeping interest rates high is the best way to rein them in, according to Bloomberg&rsquo s latest poll of professional and retail investors.
Some 90% of 288 respondents in a Markets Live Pulse survey said companies on both sides of the Atlantic have been raising prices in excess of their own costs since the pandemic began in 2020. Almost four out of five said that tight monetary policy is the right way to tackle profit-led inflation.
One of the worst bouts of inflation in decades has spurred a search for explanations &ndash with broken supply chains, big-spending governments and rising wages all shouldering some of the blame. But the surge in corporate markups is another potential cause that deserves attention, and is now getting it.
Margins soared in the initial pandemic years, and have defied convention by remaining historically high since then. That raises two key questions: Are fatter profits helping to entrench inflation, and if so, what should be done about it? It&rsquo s part of a wider debate about whether different kinds of price pressures need different tools to address them, instead of the one-size-fits-all response of higher interest rates.
MLIV Pulse survey participants largely took the view that monetary tightening by central banks is the appropriate response to profit-driven price rises. About one-quarter disagreed, offering alternative solutions including the use of corporate tax rates against price gougers, and tougher anti-monopoly rules.
See also:  US' s debt-ceiling crisis is over but the debt crisis remains
The retail sector has seen the most opportunistic pricing during the pandemic, some 67% of respondents said. The energy industry came a distant second, with about one-sixth of votes. Those findings may reflect the fact that people buy basic consumption goods more often than bigger-ticket items, so they&rsquo re likelier to notice when the prices jump &ndash an idea known as &ldquo collision frequency.&rsquo &rsquo
The unique circumstances of the pandemic &ndash severe supply constraints, followed by an unprecedented burst of stimulus-fueled demand &ndash lie behind the widening of profit margins, which hit 70-year highs in the US.
See also:  Fed should consider a half-point July rate hike if June is a skip: former Treasury Secretary Lawrence Summers
That&rsquo s unlikely to prove permanent, according to most survey respondents, who expect margins in the aggregate will recede to where they were before Covid &ndash although the majority was only a slim one, at 53%.
Standard economic theory holds that profit margins are &ldquo mean-reverting&rsquo &rsquo &ndash in other words, they tend to be pulled back to normal levels. It&rsquo s supposed to work like this: An industry with high profits should attract new entrants, with increased competition forcing margins lower.
But reality has rudely refused to conform. Margins were already elevated before the pandemic, and they&rsquo re now even more so.
Various theories have sought to explain why this happened. Isabella Weber, an economist at the University of Massachusetts Amherst,  argues  that much of the US&rsquo s recent inflation is &ldquo sellers&rsquo inflation,&rsquo &rsquo stemming from the ability of dominant firms to exploit their monopolistic position in order to raise prices. Weber  notes  that &ldquo bottlenecks can create temporary monopoly power which can render it safe to hike prices not only to protect but to increase profits.&rsquo &rsquo
Paul Donovan, chief global economist at UBS AG, refers to this as &ldquo profit-led inflation&rsquo &rsquo &ndash companies using the cover of broad-based price increases to raise their own prices more than they have to -- and more colloquially the idea has become known as &ldquo greedflation.&rsquo &rsquo
However it&rsquo s labeled, if firms have been taking advantage of monopolies to raise their margins, they will be loath to lower them by much. Who wants to award themselves a pay cut right after getting a raise?
Margins are beginning to fall from their highs as firms rebalance the price-versus-volume trade-off, but they remain significantly higher than in the pre-Covid years.
To stay ahead of Singapore and the region&rsquo s corporate and economic trends,  click here for Latest Section
This could well continue to favour some equities. When asked what type of stock stands to benefit the most from profit-led inflation, almost three-quarters of respondents opted for firms with strong pricing power. The logic there is that until a rising backlash against monopolies or oligopolies gets properly underway, it makes sense to own the companies which can exploit the inflationary backdrop the most.
Ultimately &ldquo greedflation&rsquo &rsquo is not likely to lead to prolonged sticky inflation, according to a majority of survey respondents.
Only 10% said it will take more than five years for the headline rate of US consumer-price inflation to return to a stable average of around 2%. More than half reckon inflation will return to 2% levels within two years &ndash in line with the market view, based on the current two-year breakeven rate of about 2.1%.
So what can be done specifically to stem profit-led inflation? The 24% of survey respondents who don&rsquo t believe tighter monetary policy is the answer came up with some thoughtful alternatives.
Among the frequent suggestions were better enforcement of antitrust laws around mergers, along with other efforts to stimulate more competition. There was support for higher corporate taxes, potentially including windfall charges in areas where price-gouging is identified. &ldquo Tax them to oblivion&rsquo &rsquo was one blunt recommendation.
Inflation breeds resentment by exacerbating inequality. Once pandemic savings are depleted that resentment has the potential to mushroom, and firms&rsquo profit honeymoon will likely face a much more challenging and regulated future. In that case, tighter monetary policy could be the least of their worries.
MLIV Pulse is a weekly survey of Bloomberg News readers on the terminal and online, conducted by Bloomberg&rsquo s Markets Live team, which also runs an MLIV Blog on the terminal. Simon White is a macro strategist who writes for the MLIV blog and also has his own MacroScope column, a wide-angled take on the most important macro and market topics, rising above the short-term noise to get the big picture.


chartistkao1      ( Date: 13-Jun-2023 15:45) Posted:

SINGAPORE (March 27): Singapore Airlines, facing unprecedented stress from the Covid-19 outbreak, plans to tap shareholders and investors to raise up to $15 billion so that it can stay aloft, the company announced just before midnight on March 26.
The flag carrier plans to offer all shareholders the chance to subscribe for $5.3 billion in new shares. Shareholders who hold two existing SIA shares are entitled to subscribe to three new SIA shares at $3 each.
The offer price of $3 per rights share is a 53.8% discount off SIA&rsquo s last traded price of $6.50 before trading halt was called before the market opened on March 26.
SIA will also raise up to another $9.7 billion from a 10-year Mandatory Convertible Bonds (MCB). The convertible bonds will be raised via an initial tranche of $3.5 billion and followed by subsequent tranches of $6.2 billion.
SIA&rsquo s largest shareholder Temasek Holdings, which owns more than 55% of the airline, will vote in favour of the resolutions and subscribe for its full entitlement. Temasek will also take up the rights that other smaller shareholders don&rsquo t want.
In addition, SIA has also arranged a $4 billion bridge loan facility with fellow Temasek-linked company, DBS Bank, which will go towards the airline&rsquo s near-term liquidity requirements.

The fundraising will be subjected to shareholders&rsquo approval at an EGM to be held.
&ldquo This is an exceptional time for the SIA Group,&rdquo says SIA chairman Peter Seah. &ldquo Since the onset of the Covid-19 outbreak, passenger demand has fallen precipitously amid an unprecedented closure of borders worldwide. We moved quickly to cut capacity and implement cost-cutting measures,&rdquo he adds.
With the Covid-19 outbreak worsening rapidly, the airline on March 23 announced that it has grounded 96% of its fleet. Remaining flights, largely empty, are those flying Singaporeans back from overseas from other virus-inflicted countries.

Temasek International CEO, Dilhan Pillay Sandrasegara notes that SIA was enjoying strong growth before Covid-19 struck. &ldquo It has also committed to fleet renewal as part of its transformation journey. This transaction will not only tide SIA over a short term financial liquidity challenge, but will position it for growth beyond the pandemic,&rdquo he says.
&ldquo We fully support SIA&rsquo s plans to transform itself. This includes the modernisation of its fleet. The delivery of a new generation aircraft over the next few years will provide better fuel efficiencies as well as meet its capacity expansion strategy,&rdquo adds Sandrasegara.
This Temasek-led rescue of SIA was disclosed earlier in the afternoon of March 26, when deputy prime minister Heng Swee Keat announced the supplementary package worth $48.4 billion to help deal with the Covid-19 outbreak.
During his speech when the market was still trading, Heng said that SIA, with the backing of Temasek Holdings, will be undertaking a &ldquo corporate action&rdquo .
While Heng did not provide further details in his speech, the good news is evident. As SIA shares were halted before market opened on March 26, investors piled in on SIA Engineering, the separately-listed subsidiary, instead. It gained 21 cents, or 12.57%, to close at $1.88 on March 26.
However, that&rsquo s little comfort to shareholders who have seen shares of both companies getting hammered in the drastic sell-down over the past few weeks. SIA, for one, last traded at $6.50, and is down 28.6% year to date. SIA Engineering, on the other hand, is down 33.8% over the same period.
As at Dec 31, 2019, the company has total borrowings of $7.7 billion, comprising bank borrowings and bonds. The company has a bond issuance of $500 million with a coupon rate of 3.22% that will mature on July 9. The company also has salaries and other fixed costs to pay. Yet the company has cash and cash equivalents of only $1.6 billion.
Advertisement
 


chartistkao1      ( Date: 13-Jun-2023 15:30) Posted:

from $3 per share in 2020 to 2023 $7.38
2020
https://www.shareinvestor.com/news/news.html?source=sg_si_express& nid=235960
2023
https://investors.sgx.com/_security-types/stocks/C6L
 
https://www.cnbctv18.com/economy/wall-street-fears-1-trillion-dollar-aftershock-from-debt-deal-16704681.htm
 


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chartistkao1
Supreme
13-Jun-2023 15:45     
 
chartistkao1 About Contact  Quote this Post!  
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 Alert Admin
SINGAPORE (March 27): Singapore Airlines, facing unprecedented stress from the Covid-19 outbreak, plans to tap shareholders and investors to raise up to $15 billion so that it can stay aloft, the company announced just before midnight on March 26.
The flag carrier plans to offer all shareholders the chance to subscribe for $5.3 billion in new shares. Shareholders who hold two existing SIA shares are entitled to subscribe to three new SIA shares at $3 each.
The offer price of $3 per rights share is a 53.8% discount off SIA&rsquo s last traded price of $6.50 before trading halt was called before the market opened on March 26.
SIA will also raise up to another $9.7 billion from a 10-year Mandatory Convertible Bonds (MCB). The convertible bonds will be raised via an initial tranche of $3.5 billion and followed by subsequent tranches of $6.2 billion.
SIA&rsquo s largest shareholder Temasek Holdings, which owns more than 55% of the airline, will vote in favour of the resolutions and subscribe for its full entitlement. Temasek will also take up the rights that other smaller shareholders don&rsquo t want.
In addition, SIA has also arranged a $4 billion bridge loan facility with fellow Temasek-linked company, DBS Bank, which will go towards the airline&rsquo s near-term liquidity requirements.

The fundraising will be subjected to shareholders&rsquo approval at an EGM to be held.
&ldquo This is an exceptional time for the SIA Group,&rdquo says SIA chairman Peter Seah. &ldquo Since the onset of the Covid-19 outbreak, passenger demand has fallen precipitously amid an unprecedented closure of borders worldwide. We moved quickly to cut capacity and implement cost-cutting measures,&rdquo he adds.
With the Covid-19 outbreak worsening rapidly, the airline on March 23 announced that it has grounded 96% of its fleet. Remaining flights, largely empty, are those flying Singaporeans back from overseas from other virus-inflicted countries.

Temasek International CEO, Dilhan Pillay Sandrasegara notes that SIA was enjoying strong growth before Covid-19 struck. &ldquo It has also committed to fleet renewal as part of its transformation journey. This transaction will not only tide SIA over a short term financial liquidity challenge, but will position it for growth beyond the pandemic,&rdquo he says.
&ldquo We fully support SIA&rsquo s plans to transform itself. This includes the modernisation of its fleet. The delivery of a new generation aircraft over the next few years will provide better fuel efficiencies as well as meet its capacity expansion strategy,&rdquo adds Sandrasegara.
This Temasek-led rescue of SIA was disclosed earlier in the afternoon of March 26, when deputy prime minister Heng Swee Keat announced the supplementary package worth $48.4 billion to help deal with the Covid-19 outbreak.
During his speech when the market was still trading, Heng said that SIA, with the backing of Temasek Holdings, will be undertaking a &ldquo corporate action&rdquo .
While Heng did not provide further details in his speech, the good news is evident. As SIA shares were halted before market opened on March 26, investors piled in on SIA Engineering, the separately-listed subsidiary, instead. It gained 21 cents, or 12.57%, to close at $1.88 on March 26.
However, that&rsquo s little comfort to shareholders who have seen shares of both companies getting hammered in the drastic sell-down over the past few weeks. SIA, for one, last traded at $6.50, and is down 28.6% year to date. SIA Engineering, on the other hand, is down 33.8% over the same period.
As at Dec 31, 2019, the company has total borrowings of $7.7 billion, comprising bank borrowings and bonds. The company has a bond issuance of $500 million with a coupon rate of 3.22% that will mature on July 9. The company also has salaries and other fixed costs to pay. Yet the company has cash and cash equivalents of only $1.6 billion.
Advertisement
 


chartistkao1      ( Date: 13-Jun-2023 15:30) Posted:

from $3 per share in 2020 to 2023 $7.38
2020
https://www.shareinvestor.com/news/news.html?source=sg_si_express& nid=235960
2023
https://investors.sgx.com/_security-types/stocks/C6L
 
https://www.cnbctv18.com/economy/wall-street-fears-1-trillion-dollar-aftershock-from-debt-deal-16704681.htm
 


chartistkao1      ( Date: 13-Jun-2023 15:09) Posted:

preparing for worldwide october stock crashed 2023
https://www.axios.com/2023/06/05/debt-ceiling-treasury-issuance
 
https://www.schwab.com/fixed-income/bond-ladders
 Useful To Me  Not Useful To Me
chartistkao1
Supreme
13-Jun-2023 15:30     
 
chartistkao1 About Contact  Quote this Post!  
  x 0
  x 0

 Alert Admin 		from $3 per share in 2020 to 2023 $7.38
2020
https://www.shareinvestor.com/news/news.html?source=sg_si_express& nid=235960
2023
https://investors.sgx.com/_security-types/stocks/C6L
 
https://www.cnbctv18.com/economy/wall-street-fears-1-trillion-dollar-aftershock-from-debt-deal-16704681.htm
 


chartistkao1      ( Date: 13-Jun-2023 15:09) Posted:

preparing for worldwide october stock crashed 2023
https://www.axios.com/2023/06/05/debt-ceiling-treasury-issuance
 
https://www.schwab.com/fixed-income/bond-ladders


chartistkao1      ( Date: 13-Jun-2023 14:59) Posted:

sell us shares to buy
https://www.cnbc.com/2023/02/27/how-to-build-a-treasury-bill-ladder-to-capture-higher-yields.htm
 Useful To Me  Not Useful To Me
chartistkao1
Supreme
13-Jun-2023 15:09     
 
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 Alert Admin 		preparing for worldwide october stock crashed 2023
https://www.axios.com/2023/06/05/debt-ceiling-treasury-issuance
 
https://www.schwab.com/fixed-income/bond-ladders


chartistkao1      ( Date: 13-Jun-2023 14:59) Posted:

sell us shares to buy
https://www.cnbc.com/2023/02/27/how-to-build-a-treasury-bill-ladder-to-capture-higher-yields.html

chartistkao1      ( Date: 13-Jun-2023 14:57) Posted:

the step-by step t-bills sell 10% t bills, 20%sales t bills,30% sales t bills and 40% t billssales in october 2023
https://www.marketwatch.com/story/potent-liquidity-squeeze-threatens-stock-market-once-debt-ceiling-deal-is-done-1d16cf6f
Treasury bills are debt issued by the U.S. government that mature in four to 52 weeks. New bill issuance could reach about $1.4 trillion through the end of 2023, with roughly $1 trillion flooding the market before the end of August,
 Useful To Me  Not Useful To Me


chartistkao1
Supreme
13-Jun-2023 14:59     
 
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 Alert Admin 		sell us shares to buy
https://www.cnbc.com/2023/02/27/how-to-build-a-treasury-bill-ladder-to-capture-higher-yields.html

chartistkao1      ( Date: 13-Jun-2023 14:57) Posted:

the step-by step t-bills sell 10% t bills, 20%sales t bills,30% sales t bills and 40% t billssales in october 2023
https://www.marketwatch.com/story/potent-liquidity-squeeze-threatens-stock-market-once-debt-ceiling-deal-is-done-1d16cf6f
Treasury bills are debt issued by the U.S. government that mature in four to 52 weeks. New bill issuance could reach about $1.4 trillion through the end of 2023, with roughly $1 trillion flooding the market before the end of August,


chartistkao1      ( Date: 13-Jun-2023 14:49) Posted:

If the Treasury plans to refill its coffers quickly, it may increase the amount of bond issuance. This could be due to factors like increased government spending or a need to finance budget deficits. Higher bond issuance can have implications for financial markets, such as potentially increasing the supply of bonds available for purchase.
Investors closely monitor government bond issuance as it affects the supply and demand dynamics of the bond market. An increase in bond supply, all else being equal, could lead to downward pressure on bond prices and upward pressure on yields. This can impact interest rates and have broader implications for various sectors of the economy, including the housing market, corporate borrowing costs, and investment decisions.
https://www.marketwatch.com/story/potent-liquidity-squeeze-threatens-stock-market-once-debt-ceiling-deal-is-done-1d16cf6f



 
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 Alert Admin 		the step-by step t-bills sell 10% t bills, 20%sales t bills,30% sales t bills and 40% t billssales in october 2023
https://www.marketwatch.com/story/potent-liquidity-squeeze-threatens-stock-market-once-debt-ceiling-deal-is-done-1d16cf6f
Treasury bills are debt issued by the U.S. government that mature in four to 52 weeks. New bill issuance could reach about $1.4 trillion through the end of 2023, with roughly $1 trillion flooding the market before the end of August,


chartistkao1      ( Date: 13-Jun-2023 14:49) Posted:

If the Treasury plans to refill its coffers quickly, it may increase the amount of bond issuance. This could be due to factors like increased government spending or a need to finance budget deficits. Higher bond issuance can have implications for financial markets, such as potentially increasing the supply of bonds available for purchase.
Investors closely monitor government bond issuance as it affects the supply and demand dynamics of the bond market. An increase in bond supply, all else being equal, could lead to downward pressure on bond prices and upward pressure on yields. This can impact interest rates and have broader implications for various sectors of the economy, including the housing market, corporate borrowing costs, and investment decisions.
https://www.marketwatch.com/story/potent-liquidity-squeeze-threatens-stock-market-once-debt-ceiling-deal-is-done-1d16cf6f



 

chartistkao1      ( Date: 13-Jun-2023 14:40) Posted:

Straits Times Index (STI)
3,189.49
(-6.58/-0.21%)
 
When a significant number of T-bills are issued, especially in a condensed timeframe, it can lead to increased supply in the market. Investors, including banks, financial institutions, and individuals, may choose to invest in these T-bills due to their perceived safety and liquidity. As a result, a substantial amount of available funds might be absorbed by these T-bills, reducing the amount of liquidity available for other investments.
The reduced liquidity in the market can affect other financial instruments and markets. Investors may have fewer funds to allocate to other assets such as corporate bonds, equities, or loans. This decreased availability of funds can result in higher borrowing costs for corporations and individuals who rely on accessing credit or raising capital from these markets. It can also potentially lead to increased interest rates for other types of debt.
Additionally, reduced market liquidity can impact the efficiency and functioning of financial markets. Lower liquidity levels make it more challenging for investors to buy or sell assets without significantly affecting their prices. It can increase bid-ask spreads, making it more expensive to trade and potentially resulting in price volatility.
Central banks and financial authorities closely monitor market liquidity conditions to ensure smooth functioning and stability. They may take measures to manage liquidity, such as conducting open market operations, adjusting interest rates, or implementing quantitative easing programs, to mitigate any adverse impacts caused by a large issuance of T-bills or other factors affecting liquidity levels.


&ldquo Success is less about means, and more about meaning... We must value the success of every individual &ndash each one pursuing his or her own path,
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 Alert Admin 		If the Treasury plans to refill its coffers quickly, it may increase the amount of bond issuance. This could be due to factors like increased government spending or a need to finance budget deficits. Higher bond issuance can have implications for financial markets, such as potentially increasing the supply of bonds available for purchase.
Investors closely monitor government bond issuance as it affects the supply and demand dynamics of the bond market. An increase in bond supply, all else being equal, could lead to downward pressure on bond prices and upward pressure on yields. This can impact interest rates and have broader implications for various sectors of the economy, including the housing market, corporate borrowing costs, and investment decisions.
https://www.marketwatch.com/story/potent-liquidity-squeeze-threatens-stock-market-once-debt-ceiling-deal-is-done-1d16cf6f



 

chartistkao1      ( Date: 13-Jun-2023 14:40) Posted:

Straits Times Index (STI)
3,189.49
(-6.58/-0.21%)
 
When a significant number of T-bills are issued, especially in a condensed timeframe, it can lead to increased supply in the market. Investors, including banks, financial institutions, and individuals, may choose to invest in these T-bills due to their perceived safety and liquidity. As a result, a substantial amount of available funds might be absorbed by these T-bills, reducing the amount of liquidity available for other investments.
The reduced liquidity in the market can affect other financial instruments and markets. Investors may have fewer funds to allocate to other assets such as corporate bonds, equities, or loans. This decreased availability of funds can result in higher borrowing costs for corporations and individuals who rely on accessing credit or raising capital from these markets. It can also potentially lead to increased interest rates for other types of debt.
Additionally, reduced market liquidity can impact the efficiency and functioning of financial markets. Lower liquidity levels make it more challenging for investors to buy or sell assets without significantly affecting their prices. It can increase bid-ask spreads, making it more expensive to trade and potentially resulting in price volatility.
Central banks and financial authorities closely monitor market liquidity conditions to ensure smooth functioning and stability. They may take measures to manage liquidity, such as conducting open market operations, adjusting interest rates, or implementing quantitative easing programs, to mitigate any adverse impacts caused by a large issuance of T-bills or other factors affecting liquidity levels.


&ldquo Success is less about means, and more about meaning... We must value the success of every individual &ndash each one pursuing his or her own path,


chartistkao1      ( Date: 13-Jun-2023 14:33) Posted:

If a large amount of T-bills were issued, especially in a short period of time, it could potentially impact market liquidity. The increased supply of T-bills could absorb available funds from investors, leading to reduced liquidity in other markets. However, the specific impact would depend on various factors, including the overall market conditions, investor demand for T-bills, and the actions of other market participants.
 
33,018.65 33,127.36 32,638.21 +584.65 +1.80% 01:59:59  
 
7,138.90 7,138.90 7,101.30 +16.40 +0.23% 02:17:14  
 
327.12 327.82 323.61 +2.90 +0.89% 02:33:00  
 
3,233.82 3,234.82 3,215.50 +4.99 +0.15% 02:33:09  
 
10,934.83 10,945.47 10,853.57 +61.09 +0.56% 02:03:09  
 
12,669.81 12,698.63 12,599.49 +12.93 +0.10% 02:18:00  
 
451.01 451.93 449.24 +0.18 +0.04% 02:04:00  
 
19,565.00 19,583.00 19,263.00 +160.69 +0.83% 02:33:11  
 
17,216.60 17,254.96 17,129.23 +261.23 +1.54% 01:33:15  
 
SET
 
1,561.72 1,563.85 1,552.30 +10.31 +0.66% 01:30:00  
 
KOSPI
 
2,637.95 2,645.62 2,633.52 +8.60 +0.33% 02:30:40  
 
6,710.39 6,744.04 6,697.07 -11.98 -0.18% 01:00:00  
 
18,707.80 18,718.40 18,631.80 +106.30 +0.57% 02:33:11  
 
63,092.86 63,135.98 62,777.04 +368.15 +0.59% 02:18:13  
 


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 Alert Admin
Straits Times Index (STI)
3,189.49
(-6.58/-0.21%)
 
When a significant number of T-bills are issued, especially in a condensed timeframe, it can lead to increased supply in the market. Investors, including banks, financial institutions, and individuals, may choose to invest in these T-bills due to their perceived safety and liquidity. As a result, a substantial amount of available funds might be absorbed by these T-bills, reducing the amount of liquidity available for other investments.
The reduced liquidity in the market can affect other financial instruments and markets. Investors may have fewer funds to allocate to other assets such as corporate bonds, equities, or loans. This decreased availability of funds can result in higher borrowing costs for corporations and individuals who rely on accessing credit or raising capital from these markets. It can also potentially lead to increased interest rates for other types of debt.
Additionally, reduced market liquidity can impact the efficiency and functioning of financial markets. Lower liquidity levels make it more challenging for investors to buy or sell assets without significantly affecting their prices. It can increase bid-ask spreads, making it more expensive to trade and potentially resulting in price volatility.
Central banks and financial authorities closely monitor market liquidity conditions to ensure smooth functioning and stability. They may take measures to manage liquidity, such as conducting open market operations, adjusting interest rates, or implementing quantitative easing programs, to mitigate any adverse impacts caused by a large issuance of T-bills or other factors affecting liquidity levels.


&ldquo Success is less about means, and more about meaning... We must value the success of every individual &ndash each one pursuing his or her own path,


chartistkao1      ( Date: 13-Jun-2023 14:33) Posted:

If a large amount of T-bills were issued, especially in a short period of time, it could potentially impact market liquidity. The increased supply of T-bills could absorb available funds from investors, leading to reduced liquidity in other markets. However, the specific impact would depend on various factors, including the overall market conditions, investor demand for T-bills, and the actions of other market participants.
 
33,018.65 33,127.36 32,638.21 +584.65 +1.80% 01:59:59  
 
7,138.90 7,138.90 7,101.30 +16.40 +0.23% 02:17:14  
 
327.12 327.82 323.61 +2.90 +0.89% 02:33:00  
 
3,233.82 3,234.82 3,215.50 +4.99 +0.15% 02:33:09  
 
10,934.83 10,945.47 10,853.57 +61.09 +0.56% 02:03:09  
 
12,669.81 12,698.63 12,599.49 +12.93 +0.10% 02:18:00  
 
451.01 451.93 449.24 +0.18 +0.04% 02:04:00  
 
19,565.00 19,583.00 19,263.00 +160.69 +0.83% 02:33:11  
 
17,216.60 17,254.96 17,129.23 +261.23 +1.54% 01:33:15  
 
SET
 
1,561.72 1,563.85 1,552.30 +10.31 +0.66% 01:30:00  
 
KOSPI
 
2,637.95 2,645.62 2,633.52 +8.60 +0.33% 02:30:40  
 
6,710.39 6,744.04 6,697.07 -11.98 -0.18% 01:00:00  
 
18,707.80 18,718.40 18,631.80 +106.30 +0.57% 02:33:11  
 
63,092.86 63,135.98 62,777.04 +368.15 +0.59% 02:18:13  
 


chartistkao1      ( Date: 13-Jun-2023 11:56) Posted:

https://www.middleeasteye.net/news/qatars-investments-asia-increase-wealth-fund-gears-deal
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chartistkao1
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13-Jun-2023 14:33     
 
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 Alert Admin
If a large amount of T-bills were issued, especially in a short period of time, it could potentially impact market liquidity. The increased supply of T-bills could absorb available funds from investors, leading to reduced liquidity in other markets. However, the specific impact would depend on various factors, including the overall market conditions, investor demand for T-bills, and the actions of other market participants.
 
33,018.65 33,127.36 32,638.21 +584.65 +1.80% 01:59:59  
 
7,138.90 7,138.90 7,101.30 +16.40 +0.23% 02:17:14  
 
327.12 327.82 323.61 +2.90 +0.89% 02:33:00  
 
3,233.82 3,234.82 3,215.50 +4.99 +0.15% 02:33:09  
 
10,934.83 10,945.47 10,853.57 +61.09 +0.56% 02:03:09  
 
12,669.81 12,698.63 12,599.49 +12.93 +0.10% 02:18:00  
 
451.01 451.93 449.24 +0.18 +0.04% 02:04:00  
 
19,565.00 19,583.00 19,263.00 +160.69 +0.83% 02:33:11  
 
17,216.60 17,254.96 17,129.23 +261.23 +1.54% 01:33:15  
 
SET
 
1,561.72 1,563.85 1,552.30 +10.31 +0.66% 01:30:00  
 
KOSPI
 
2,637.95 2,645.62 2,633.52 +8.60 +0.33% 02:30:40  
 
6,710.39 6,744.04 6,697.07 -11.98 -0.18% 01:00:00  
 
18,707.80 18,718.40 18,631.80 +106.30 +0.57% 02:33:11  
 
63,092.86 63,135.98 62,777.04 +368.15 +0.59% 02:18:13  
 


chartistkao1      ( Date: 13-Jun-2023 11:56) Posted:

https://www.middleeasteye.net/news/qatars-investments-asia-increase-wealth-fund-gears-deals

chartistkao1      ( Date: 13-Jun-2023 11:33) Posted:

https://www.rferl.org/a/A_RollerCoaster_Year_For_The_Dollar/1917422.html
2023 the same dollar do havoc in global system again
 
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 Alert Admin 		https://www.middleeasteye.net/news/qatars-investments-asia-increase-wealth-fund-gears-deals

chartistkao1      ( Date: 13-Jun-2023 11:33) Posted:

https://www.rferl.org/a/A_RollerCoaster_Year_For_The_Dollar/1917422.html
2023 the same dollar do havoc in global system again
 

chartistkao1      ( Date: 13-Jun-2023 11:29) Posted:

why can the unfair situation be justify as fair forever?
https://www.aseanbriefing.com/news/asean-to-increase-local-currency-transactions-reducing-reliance-on-the-us-dollar/
 
https://www.investopedia.com/articles/investing/090915/quantitative-easing-vs-currency-manipulation.asp
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13-Jun-2023 11:33     
 
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 Alert Admin 		https://www.rferl.org/a/A_RollerCoaster_Year_For_The_Dollar/1917422.html
2023 the same dollar do havoc in global system again
 

chartistkao1      ( Date: 13-Jun-2023 11:29) Posted:

why can the unfair situation be justify as fair forever?
https://www.aseanbriefing.com/news/asean-to-increase-local-currency-transactions-reducing-reliance-on-the-us-dollar/
 
https://www.investopedia.com/articles/investing/090915/quantitative-easing-vs-currency-manipulation.asp


chartistkao1      ( Date: 13-Jun-2023 11:25) Posted:

A USD tap that can turn on to flood the global markets with cheap usd or turn off to suck up the cheap usd vie us rate hikes
https://www.reuters.com/article/us-economy-dollar-meltdown-idUSTRE5AN5AP2009112
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chartistkao1
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13-Jun-2023 11:29     
 
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 Alert Admin 		why can the unfair situation be justify as fair forever?
https://www.aseanbriefing.com/news/asean-to-increase-local-currency-transactions-reducing-reliance-on-the-us-dollar/
 
https://www.investopedia.com/articles/investing/090915/quantitative-easing-vs-currency-manipulation.asp


chartistkao1      ( Date: 13-Jun-2023 11:25) Posted:

A USD tap that can turn on to flood the global markets with cheap usd or turn off to suck up the cheap usd vie us rate hikes
https://www.reuters.com/article/us-economy-dollar-meltdown-idUSTRE5AN5AP20091124

chartistkao1      ( Date: 13-Jun-2023 11:15) Posted:

sia at $7.44 comfortdelgro at $1.07 potential to be privatised soon when US start to flood the global markets with cheap usd after debt limits lifted in june
https://www.temasek.com.sg/en/news-and-resources/news-room/news/2016/temasek-and-smrt-jointly-undertake-to-privatise-smrt
 
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13-Jun-2023 11:25     
 
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 Alert Admin 		A USD tap that can turn on to flood the global markets with cheap usd or turn off to suck up the cheap usd vie us rate hikes
https://www.reuters.com/article/us-economy-dollar-meltdown-idUSTRE5AN5AP20091124

chartistkao1      ( Date: 13-Jun-2023 11:15) Posted:

sia at $7.44 comfortdelgro at $1.07 potential to be privatised soon when US start to flood the global markets with cheap usd after debt limits lifted in june
https://www.temasek.com.sg/en/news-and-resources/news-room/news/2016/temasek-and-smrt-jointly-undertake-to-privatise-smrt
 

chartistkao1      ( Date: 13-Jun-2023 10:54) Posted:

usdsgd1.3426
https://www.theedgesingapore.com/capital/brokers-calls/citi-reinstates-coverage-dbs-sell-call-and-target-price-266
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13-Jun-2023 11:15     
 
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 Alert Admin 		sia at $7.44 comfortdelgro at $1.07 potential to be privatised soon when US start to flood the global markets with cheap usd after debt limits lifted in june
https://www.temasek.com.sg/en/news-and-resources/news-room/news/2016/temasek-and-smrt-jointly-undertake-to-privatise-smrt
 

chartistkao1      ( Date: 13-Jun-2023 10:54) Posted:

usdsgd1.3426
https://www.theedgesingapore.com/capital/brokers-calls/citi-reinstates-coverage-dbs-sell-call-and-target-price-2660

chartistkao1      ( Date: 13-Jun-2023 10:49) Posted:

https://www.straitstimes.com/business/s-pore-to-play-larger-role-in-hsbc-s-asian-growth-plan
 
https://www.pmo.gov.sg/Newsroom/DPM-Heng-Swee-Keat-at-Opening-of-HSBC-New-Office
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13-Jun-2023 10:54     
 
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 Alert Admin 		usdsgd1.3426
https://www.theedgesingapore.com/capital/brokers-calls/citi-reinstates-coverage-dbs-sell-call-and-target-price-2660

chartistkao1      ( Date: 13-Jun-2023 10:49) Posted:

https://www.straitstimes.com/business/s-pore-to-play-larger-role-in-hsbc-s-asian-growth-plan
 
https://www.pmo.gov.sg/Newsroom/DPM-Heng-Swee-Keat-at-Opening-of-HSBC-New-Office


chartistkao1      ( Date: 13-Jun-2023 10:42) Posted:

5 days later after this ,we have big profit taking in sg bank shares after us issue more t-bills

The Treasury Department could issue $700 billion in T-bills within weeks of a debt-ceiling deal, draining liquidity from markets

 
 
Filip De Mott
 
https://finance.yahoo.com/news/treasury-department-could-issue-700-041953057.html
 
https://vulcanpost.com/829547/cash-flooding-singapore-forced-dbs-to-lend-mas-s30-billion/
 


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13-Jun-2023 10:49     
 
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https://www.straitstimes.com/business/s-pore-to-play-larger-role-in-hsbc-s-asian-growth-plan
 
https://www.pmo.gov.sg/Newsroom/DPM-Heng-Swee-Keat-at-Opening-of-HSBC-New-Office


chartistkao1      ( Date: 13-Jun-2023 10:42) Posted:

5 days later after this ,we have big profit taking in sg bank shares after us issue more t-bills

The Treasury Department could issue $700 billion in T-bills within weeks of a debt-ceiling deal, draining liquidity from markets

 
 
Filip De Mott
 
https://finance.yahoo.com/news/treasury-department-could-issue-700-041953057.html
 
https://vulcanpost.com/829547/cash-flooding-singapore-forced-dbs-to-lend-mas-s30-billion/
 


chartistkao1      ( Date: 12-Jun-2023 14:26) Posted:

https://www.thevibes.com/articles/opinion/92333/dedollarisation-the-end-of-us-hegemony-in-global-finances-jamari-mohtar
it is liked sucking usd out of the world system and cause the world run out of usd-de-risking the global system
https://finance.yahoo.com/news/treasury-department-could-issue-700-041953057.html
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