It never ceases to amaze me how much can change in a space of a month. Actually, make that just three weeks since my last SSB Talk article. Earlier signs were indicating that the Fed was finally done with rate hikes, and the latest FOMC meeting saw an unexpectedly dovish stance by the Fed that rate cuts are likely to happen next year. Snapshot on 19 Dec 2023 Futures pricing data from the CME FedWatch Tool are now indicating that the first rate cut will likely happen in March 2024. Snapshot on 26 Nov 2023 (Last month) Like charts and diagrams? Here’s the latest December 2023 dot plot by CNBC where the individual members of the FOMC indicate their expectations for rates in the following years, and why it matters. It seems unlikely we will continue to enjoy the attractive yields of 3% and higher that we have been getting from the recent issues of Singapore Savings Bonds. Regardless, one thing is for sure....