Topics:
1. Stock markets tend to recover following geopolitical events
2. The emphasis on Sustainable Investing is accelerating
3. Quality companies in Asia present attractive opportunities

The Russia-Ukraine crisis has rattled financial markets, with volatility likely to remain high as events unfold. Hear from Neo Teng Hwee, Chief Investment Officer of UOB Private Bank, and Abel Lim, Head of Wealth Management Advisory and Strategy at UOB, about what investors should consider in these market conditions.

Topics:
1. Equity markets can deliver positive returns through rate hikes
2. China on the easing path
3. Opportunities in European and Japanese equities

Based on the latest US Federal Reserve statement following its recent Federal Open Market Committee (FOMC) meeting, we now expect the Fed to hike rates by 25 basis points or 0.25% four times in 2022. These hikes will challenge both equity and fixed income markets. However, we suggest investors allocate more to equities than fixed income in accordance with their risk appetite to manage this volatility.

The Australian Dollar (AUD) has rebounded strongly in October, buoyed by strong risk sentiment and a recovery in commodity prices. However, the outlook on Australia economy remains uncertain due to the risk of possible COVID-19 resurgence and slowing Chinese economy. We are keeping a cautious view on AUD/SGD to likely remain below parity.

Topics:
1. Diversify with Multi-Asset Funds to navigate changing market conditions
2. Reduce bond duration as central banks dial back on stimulus
3. Europe still an attractive opportunity

Global financial markets may remain volatile due to recent weakness in Chinese markets as a result of tighter regulations, and the likely removal of government support measures in developed markets. Watch our latest market outlook video where we share the investment strategies that investors should consider as well as key risks that they need to look out for in Q4 2021.

The US dollar (USD) continued to inch higher in September as the US Federal Reserve (Fed) made steady progress towards unwinding its massive monetary stimulus. In the meantime, we expect the Monetary Authority of Singapore (MAS) to keep its monetary policy unchanged. We continue to maintain our view of a higher USD/SGD by end of 2021.

Topics:
1. Quality equities may come back in vogue
2. A bright future for Artificial Intelligence (AI) & Innovation
3. Keeping an eye on Asian markets

Global markets were hit by fears of potential bankruptcies of Chinese real estate developers as government tightening measures take effect. Despite near-term volatility and possible contagion effects, overall valuation of Chinese equities remain attractive and we maintain our preference for the domestic A-share market to ride the China Megatrend.

Topics:
1. How the urgency to address climate change has renewed attention on Sustainable Investing
2. How does China’s growing emphasis on Sustainability benefit investors
3. How US value-cyclical equities remain favourable despite its strong performance this year

Although the US dollar (USD) has weakened after the Jackson Hole Symposium on 27 August 2021, its recovery since June is likely to remain intact. We maintain our longer-term view of a higher USD/SGD by end of 2021.

COVID-19 vaccination rollouts are increasing in pace which bodes well for global economic recovery. However, financial markets have been volatile, stemming from investors’ worries on the possible removal of government support measures as well as rising inflation.

Our panel of speakers discuss what investors should look out for to better position their portfolios against the backdrop of a world in transition.

As the reopening of economies continues to gather pace, what are some of the recovery trends and risks investors should look out for to better position their investment portfolios? Hear from our Head of Wealth Management Advisory and Strategy, Abel Lim.

With the Federal Reserve moving up its timeline for rate hikes, what is the outlook for the US dollar and the 10-year treasury yield for the rest of 2021? Our Head of Markets Strategy, Global Economics and Markets Research, Heng Koon How shares his views.

The adoption of sustainable investing is on the rise in today's investment landscape. How will technological innovations impact the development of sustainability-related industries in the emerging and developed markets? Robbie Miles, CFA, Portfolio Manager of Thematic Equity team at Allianz Global Investors, shares his views.

How should investors navigate the rising bond yield environment and where are the opportunities for income and capital growth? Hear from Michael Fredericks, Head of Income Investing, Multi-Asset Strategies & Solutions Group, BlackRock.

In this video, we share the positive structural drivers that could help the United States maintain its global competitiveness, as well as the accompanying risks and considerations that you should be aware of as an investor.

Topics:
1. US Financials well-positioned for more cyclical upside
2. Invest in Europe to ride on global economic recovery
3. Navigating Chinese equities as regulatory risks remain

The latest surge in COVID-19 cases has weighed on the Singapore dollar (SGD) though the country’s economic fundamentals remain sound. Meanwhile, the US dollar (USD) has experienced a recovery since mid-June. Overall, we expect modest weakness in the SGD against the USD over the next few quarters.

The fear of further regulatory tightening in the private education sector led to a recent sell-off in education-related Chinese equities. Despite this, we remain positive on the China Megatrend as rising middle class income levels and strong domestic consumption will continue to support China’s long-term structural growth.

The outlook for H2 2021 remains bright on the back of the spectacular economic recovery we have seen in H1 2021. But financial markets have been volatile, stemming from investor worries on the possible removal of government support measures as well as rising inflation concerns. In our latest market outlook report, we help piece together the key developments, risks and opportunities that investors should look out for to better position their investment portfolios.

Both the Reserve Bank of New Zealand and Federal Reserve signalled interest rate hikes starting from September next year. This resulted in volatility for the NZD/USD currency pair. But the pair may still find support from the global reflation trade, strong commodity prices and buoyant global risk appetite.

Topics:
1. Inflation expected to be transitory
2. Higher inflation does not mean bad news for Asian bonds

The Sterling Pound (GBP) continues to gain further in May 2021 as a result of a successful vaccine rollout and strong economic data. We maintain our bullish view on GBP and expect the GBP/USD to continue appreciating towards end-2021.

Topics:
1. President Biden’s plan to build up America
2. European equities to potentially play catch up

An improving domestic growth outlook, propelled by Singapore’s effective control of the COVID-19 outbreak – coupled with receding US bond yields – has allowed the SGD to recoup most of its losses. We expect the SGD to stay resilient in the near-term.

The COVID-19 outbreak has led to increased scrutiny on whether companies around the world are conducting activities in a responsible manner. Promoting resource and social sustainability has thus become key considerations on how capital is allocated. Watch this video to learn about the key drivers behind the rising trend of Sustainable Investing, as well as the benefits and risks that come with investing in this Megatrend.

The first quarter of 2021 have been positive for global investors as the roll out of the COVID-19 vaccines across the world has begun, and economic data points suggest that the world is in the early stages of recovery. With strong growth projections, and rising consumer demand, investors could be concerned of possible return of inflation and rising interest rates. In our latest market outlook video, our panel of experts discuss the key trends that will support through Q2 2021 and highlight risks and tips that investors should be aware of to better position their portfolios.

Topics:
1. Wave of fiscal stimulus supports US recovery
2. China onshore equities: Short-term risk, long-term opportunity

The USD/JPY appears overbought, and lower levels are expected, with the currency pair likely to normalise alongside the reduced near-term volatility in bond markets.

Concerns over policy tightening, increase in regulations on Chinese technology companies and delistings by US exchanges have led to a recent sell-off in Chinese equities. While some near-term volatility may persist, we remain optimistic towards China’s structural growth story, which is supported by a strong post-pandemic recovery, continued focus on technology and innovation as cited in China’s 14th Five-Year Plan, as well as a prudent Chinese government.

Topics:
1. Equities could climb higher despite lofty valuations
2. Asian equities continue to do well

We remain positive on the Euro (EUR) despite near-term setbacks. Expectations of a global economic recovery will likely benefit growth-sensitive currencies such as the EUR. This will be at the expense of the US dollar that is often regarded as a safe haven currency.

As COVID-19 vaccines continue to be rolled out, what are the prospects for 2021? Hear from our Head of Markets Strategy, Global Economics and Markets Research, Heng Koon How, as he shares his views on the impact of the Regional Comprehensive Economic Partnership agreement on trade and growth in Asia, outlook on the global economy and what it will mean for the US dollar.

In a remodelled world that is recovering from the impact of COVID-19, there are still opportunities that lie ahead for investors. With certain industries and economies performing better than others, investors should be selective while staying diversified. Our Head of Wealth Management Advisory and Strategy, Abel Lim, shares his views.

Does 2021 bode well for fixed income investors? For those considering a multi-asset approach, where can you find opportunities for income and capital growth in Asia? Hear from George Efstathopoulos, Portfolio Manager at Fidelity International.

With sustainable investing trending among investors, what are some of the considerations when it comes to determining the reliability of companies’ data? Maurice Meijers, Managing Director, Fixed Income Investments at Robeco, shares his views.

Despite a lingering pandemic, heightened optimism accompanies the arrival of COVID-19 vaccines. The new normal we find ourselves in has also accelerated certain trends, including that of Sustainable Investing.

Find out more about some of the considerations around investing sustainably and discover the investment opportunities that lie ahead.

Hear from our panel of experts.

Concerns over rising inflation and central banks withdrawing liquidity has led to a sell-off in equity prices, especially in growth sectors like Technology. However, central banks may not reverse their loose policy stances soon as this may upset the still-fragile global economic recovery. We remain positive on equities in general, and suggest that investors remain invested to ride through the volatility.

Topics:
1. A ‘Blue Ripple’ opens up more fiscal spending
2. 2021: A year of growth normalisation

We maintain a positive outlook on the Australian dollar (AUD) this year, where its currency strength will be supported by domestic economic recovery and strong commodity demand for its exports.

COVID-19 has thrust the importance of healthcare into the spotlight for investors. The speed at which the COVID-19 vaccine was developed showcased the efficiencies that newer and emerging technologies could introduce to medical treatments. In this video, we share the key drivers and latest developments that could drive the growth of the healthcare industry, as well as the accompanying risks to consider when investing in Global Healthcare.

Despite pulling back towards the end of 2020, gold prices still saw a 25% gain Year-on-Year. With fundamental drivers remaining sound, we maintain a positive medium-term outlook for gold.

The Democrats have won the State of Georgia runoff elections and now control 50 out of 100 seats in the US Senate, giving them a slim majority with incoming Vice President Kamala Harris – this allows the Democrats to control both houses of Congress and the government, resulting in a ‘Blue Wave’. In this issue of Quick Note, we discuss how this impacts US policies, the market’s reactions thus far and the next steps for investors.

2021: As the world remodels itself to meet the new realities we face, the recovery across economies and sectors will be uneven. Which will be the likely 'winners'? What are the risks to keep a watch on? View our publication to find out what you can expect in the year ahead.

The UK and EU may strike a last-minute Brexit trade deal before the end of 2020. If this happens, the multi-year depression of the Great Britian Pound (GBP) could start to unwind. However, the economic outlook remains highly uncertain due to the COVID-19 situation in the UK and fears towards negative rates is also a lingering headwind for the currency.

1. Trump out, Biden in
2. European recovery delayed, not derailed
3. Key takeaways from China's 14^th Five-Year Plan

As the second-largest and one of the fastest growing economies in the world, China has demonstrated strong post-pandemic recovery during the COVID-19 crisis and will likely achieve positive GDP growth in 2020. In this video, we share the positive structural drivers that could help China maintain its growth momentum, and the risks and considerations investors should take note of when investing in China.

As the event risks surrounding the US presidential election recede, the bearish trend of the US dollar looks set to resume. We expect the US dollar to weaken gradually in the quarters ahead, though a divided US Congress is likely to limit excessive downside for the currency.

Democrat candidate Joe Biden is now president-elect of the US after garnering 290 electoral votes and financial markets are awaiting the results of the US Congress. In this issue of Quick Note, we discuss the market’s reactions thus far, implications of a Biden presidency and what investors can expect in the months to come.

US presidential election 2020 update: The fight between incumbent President Donald Trump and Democrat candidate Joe Biden is a close one. As of 5 November 2020, the odds of Biden winning have risen. However, not all votes have been fully counted, and the outcome remains unclear. Equity markets have generally reacted positively to the results so far. Meanwhile, investors should be prepared for uncertainty and volatility ahead.

The upcoming US presidential election, which will be held on 3 November 2020, is the most anticipated political event this year – former Vice President Joe Biden (Democrat) will be up against incumbent President Donald Trump (Republican). In this issue of Market PowerBar, we discuss the policy priorities of both presidential candidates, possible outcomes and what these mean for investors.

1. Uncertainties in 4Q 2020 could lead to volatile markets
2. The Fed rolls out new inflation-targeting framework
3. US high yield bonds are less attractive

2020 has been extremely eventful for global investors thus far. Going forward, while there may be near-term headwinds, a strong global policy response and an ongoing economic recovery are likely to be supportive of global markets.

Our panel of experts discuss trends that will support financial markets in Q4 2020 as well as highlight some of the key risks and tips that investors should be aware of to better position their portfolios.

The New Zealand dollar's (NZD) recovery from March 2020 lows was a result of a combination of supportive internal and external factors. While a dovish Reserve Bank of New Zealand poses a key risk, a higher NZD/USD is still expected given the broad USD weakness.

The spike in US money supply growth from the massive Federal Reserve easing as well as the further deterioration in US debt load in the form of a much higher US Debt-to-GDP ratio led to weakness in the US dollar.

1. Asia ex-Japan economies perform well in terms of risk and policy response
2. 2Q2020 earnings likely to be the bottom of the earnings cycle

1. China A-shares march on
2. Rebound in US high yield despite uptick in defaults

New Zealand's effective control of its domestic COVID-19 situation has also helped its economy recover to pre-crisis levels faster than most of its developed peers.

Global markets suffered some of their biggest falls in history earlier this year due to COVID-19. While equity markets have recovered from their March lows, many economies have gone into recession.

Our panel of speakers discuss what this means for you as an investor.

The pandemic has resulted in many economies going into recession though markets have recovered to some degree. What is the way forward from COVID-19? Our Head of Wealth Management Advisory and Strategy, Abel Lim, shares his views.

With US and SG interest rates expected to stay soft and fears rising over a possible collapse of the US dollar, there has been much investor interest on the Fed’s next steps. Hear from our Head of Markets Strategy, Global Economics and Markets Research, Heng Koon How.

The issue of the global supply chain disruption has become less acute with most of China’s manufacturing facilities now up and running. But as companies look to diversify their supply chain, Southeast Asia and India may stand to benefit. There is also the increasing localisation of supply chains. Stephan Kam, Co-Head of Product Management, Asia ex Japan Equities, Schroders, shares his views.

With COVID-19 accelerating the adoption of digital technology, there is greater opportunity for Artificial Intelligence to feature. Which industries have benefitted from this shift? Hear from Stephen Jue, Co-Portfolio Manager, Senior Research Analyst, Technology, Allianz Global Investors

Going ahead into H2 2020, the outlook remains uncertain. Against such a backdrop, what can investors do to ride out the potential volatility?
We share our views in our Market Outlook H2 2020 publication.

How will things pan out in H2 2020 and what new norms and trends will we see? Gain insights on some of the key considerations for investors and learn how some of our top calls can help you ride through the volatility ahead.

1. Liquidity boost softens second wave risk to equity markets
2. US Presidential election polls are showing a close race

The US dollar has peaked in March and looks set to slide further against most FX Majors in the 2H 2020. Going forward, it is likely that we continue to see this gradual pullback in the USD amidst an on-going bumpy global recovery, unless a second wave of COVID-19 infection hits.

1. The risk of countries re-opening too early
2. China’s progress on the Phase One trade deal amid rising tensions
3. Why the US equity market does not reflect underlying economic weakness

GBP/USD has recovered to above 1.20 after a collapse in March as a result of the COVID-19 pandemic. Brexit uncertainties and a Bank of England will fuel the ongoing economic uncertainty and could weigh on the GBP in the near term.

The Singapore Dollar (SGD) is one of the worst performing Asian currencies year-to-date. Starting the year at about 1.35 against the US Dollar (USD), the SGD weakened almost 4% to 1.40 in late February 2020.

Concerns over the domestic bushfires and the global risk aversion - arising from the novel coronavirus - pressured the AUD to its weakest levels since last October.

1. Long-awaited US-China Phase One trade deal signed
2. Rebound in German factory output
3. Weaker US job numbers in December 2019

Adopt a balanced approach when making investment decisions this year.

Gold rallied strongly in the first few days of 2020, from about USD 1,517, at the turn of the year, to as high as USD 1,588 /oz on 6 January 2020 - its highest levels since April 2013.