⚠️ Tech giants tumble
What happened?
Tech giants Apple, Amazon, and Alphabet reported underwhelming results. This was in sharp contrast to Met...The Beansprout community was quick this week to spot that one of the banks in Singapore has cut its fixed deposit rate sharply to below 4%.
This came at a time when the yields on the Singapore treasury bills are declining, with the cut-off yield on the latest T-bill auction falling to 3.88%.
The US Federal Reserve further fuelled a fall in government bond yields when Chairman Powell said that the “disinflationary process has started”.
But the exceptionally strong US employment numbers made investors start to doubt if inflation will truly come off sharply.
With the interest rate direction remaining uncertain, we’ve done some work to look for the best fixed deposit rate in Singapore if you’re looking to lock them in now.
Source: Bloomberg. Price as of market close on 3 Feb
