Happy new year! We started 2024 by checking out the latest fixed deposit rates, which indicated that most banks maintained or lowered their interest rates in January. This may not come as too much of a surprise, as bond yields have been falling in recent months. Likewise, the latest Singapore Savings Bond (SSB) offers a lower interest rate compared to the previous issuance. Thankfully, the cut-off yield on the latest 6-month Singapore T-bill has remained steady at 3.74%. We’d be looking out closely for the upcoming US inflation data this week to determine if we might really see an interest rate cut by the US Federal Reserve soon. Source: Bloomberg. Price as of market close on 5 Janaury 2024 🤔 WHAT'S THE FED'S NEXT RATE MOVE? What happened? Minutes from the Federal Reserve’s December meeting suggest that circumstances might warrant keeping the interest rate at the current level longer than is anticipated. What does this mean?...