After a pretty good March, the markets turned back down in April. Thankfully for the portfolios, DBS and Tesla held the fort this time, cushioning the decline overall. I took advantage of the weakness in April to deploy cash into equities, details below. Earnings kicked off in the last week of April, and so far seems to be pretty disappointing barring a few exceptions (Tesla, yay!).

REITs seemed to have fallen back into weakness, as expected with rate cuts being postponed indefinitely. The longer we stay at higher rates, consumers might start to buckle more. Those with cash might have opportunities to pick up good REITs or even properties at attractive prices in the near future.

On the fixed income front, SSB yields have risen back above 3%, rising to a very attractive 3.33% average 10Y yield for the June 2024 issue (apply by 28 May). After basically more than