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India / GDP

India gets ready for goods-and-services tax

June 23, 2017
India gets ready for goods-and-services tax

Even if inflation bottoms out later this year, its recovery is likely to be modest. Apart from inflation, lower financing costs will help investment growth. Our Taylor rule estimates, along with wide...

Thailand / GDP

The deleveraging drag

June 23, 2017
The deleveraging drag

Deleveraging will restrain private consumption in Thailand. Given that private consumption makes up about half of GDP, one should expect real GDP growth to remain at about 3.5% per year in the medium...

US / Rates

A mulish consistency

June 21, 2017
A mulish consistency

With the recovery in its eighth year, the Fed won’t waste any time in raising rates. Best expect one hike per quarter until early-2019 with the risk that the Fed has to up the pace before then.

China / Real Estate

Positive momentum in Chengdu and Chongqing

June 20, 2017
Positive momentum in Chengdu and Chongqing

Residents of Chengdu and Chongqing believe that property in their cities is still affordable compared to those in other Tier-2 cities in China. Despite rising mortgage rises, they are still willing t...

China / Real Estate

Further tightening of liquidity ahead

June 20, 2017
Further tightening of liquidity ahead

A weekly snapshot of the Chinese property market – from sales volume to inventory levels – in the Tier-I to -III cities; as well as an overview of the share performance of sector players.

China / Financials

More capital raising ahead for Chinese banks

June 13, 2017
More capital raising ahead for Chinese banks

Our analysis indicates CITIC and China Minsheng Banking may still face pressure to raise their CET1 levels by 2019 even after accounting for their respective plans to issue convertible bonds.

China / Equities

A-shares win MSCI Index inclusion

June 21, 2017
A-shares win MSCI Index inclusion

While the move is a major step forward for Beijing as it attempts to liberalise its financial markets, the short-term impact on capital inflows will be more symbolic than substantive.

Global / Equities

Weekly Global ETF Commentary

June 19, 2017
Weekly Global ETF Commentary

Our weekly analysis of exchange-traded funds and flows around the globe to aid investors in making informed decisions. Follow us as we follow the money.

Global / Equities

Weekly Global ETF Commentary

June 05, 2017
Weekly Global ETF Commentary

Our weekly analysis of exchange-traded funds and flows around the globe to aid investors in making informed decisions. Follow us as we follow the money.

Equities to Watch

In-depth Analyses

In-depth and latest analyses on individual company stocks across Hong Kong and Singapore markets and key industry sectors.

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DBS View

Securities Outlook

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DBS View

Market Commentary

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Economics Daily

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India / GDP

Record low current account deficit points to stability in e...

June 23, 2017
Record low current account deficit points to stability in external accounts

India’s FY16/17 current account deficit hit its lowest point in more than a decade. Improving external balances will shield against unexpected external shocks.

Singapore / Rates

Speculation of SGD strength intensifies

June 23, 2017
Speculation of SGD strength intensifies

The spread of 3M Libor over the 3M Singapore swap offer rate has widened to 62 basis points. Even as the SGD weakens, speculation of SGD strength intensified, dragging the 3M SOR lower.

Philippines / Inflation

Philippines’ central bank sees inflation softening

June 23, 2017
Philippines’ central bank sees inflation softening

While maintaining that risks to inflation remain tilted towards the upside, the BSP also hinted at a lower trajectory of future inflation.

US / GDP

Something has to give in US housing

June 23, 2017
Something has to give in US housing

US new home sales are expected to show a rebound in May. Prices are rising 6% per year and wages only 2.5%. One of the three – sales, prices or wages – has to give way soon.

Global / Currencies

USD firmer after last week’s FOMC meeting

June 23, 2017
USD firmer after last week’s FOMC meeting

The USD appreciated against the GBP and JPY after the Fed affirmed it would continue to lead the ECB and BOJ in hiking rates and unwinding its balance sheet.

Global / Currencies

Currencies choppy amid rifts in major central banks

June 22, 2017
Currencies choppy amid rifts in major central banks

The rally in the DXY (USD) Index stalled and the GBP weakened against the USD as concerns arise on the lack of unity within the Federal Reserve and the Bank of England.

Market Movers

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Asia / Equities

Asian shares end mixed

June 21, 2017
Asian shares end mixed

Investors await MSCI's verdict on A-shares

Developed Markets / Equities

Wall Street retreats from all-time highs

June 21, 2017
Wall Street retreats from all-time highs

Losses in energy stocks spark a broad-based decline

Global / Currencies

The pound drops to post-UK election low

June 21, 2017
The pound drops to post-UK election low

Bank of England Governor Mark Carney douses expectations for a rate hike

Global / Insights

How much can a bull bear?

June 19, 2017
How much can a bull bear?

Brace for further market volatility as geopolitical uncertainties ratchet up

Global / Insights

Political Risks Rise, Stocks Flat-Line

June 12, 2017
Political Risks Rise, Stocks Flat-Line

Global equities continue to grind sideways amid policy and political uncertainties

Global / Insights

Tedium with a Late Week Bounce

June 05, 2017
Tedium with a Late Week Bounce

Most markets had drifted sideways but US and European equities popped above the range

Global / Equities

The markets needed a correction; they will get it

May 19, 2017
The markets needed a correction; they will get it

After all, this is a market priced for perfection – not a loose cannon President, say DBS Chief Investment Officer Lim Say Boon and Strategist Jason Low

Global / Equities

Have global equities hit stall speed?

May 12, 2017
Have global equities hit stall speed?

DBS Chief Investment Officer Lim Say Boon thinks global equitiesmay be about to fall out of their trading ranges.

Global / Equities

The NEXT 100 days of the Donald, Part 2

May 08, 2017
The NEXT 100 days of the Donald, Part 2

DBS Chief Investment Officer Lim Say Boon discusses how global equities will fare outside the US

Featured Publications

Global / GDP

Q3: Forging ahead

June 08, 2017
Q3: Forging ahead

Everything in the economy is back to normal. Best plan on one hike per quarter through mid-2019, with the risk that the Federal Reserve has to up the pace before then.

Indonesia / Financials

Indonesian multi-finance companies: Bridging gaps with the ...

May 25, 2017
Indonesian multi-finance companies: Bridging gaps with the underbanked

The opportunity to reach out to Indonesia’s vast unbanked population may lie with the country’s multi-finance companies; we take a look at the key players, the potential for growth, and what lies ahe...

Global / GDP

Q2: Lemmings, the Euro and the Sea

March 09, 2017
Q2: Lemmings, the Euro and the Sea

Everyone is betting on a stronger US dollar this year, largely on expectations of rate hikes by the Federal Reserve. But the Europe and the euro could have a bigger impact on global markets than anyt...