CSOP USD Money Market Fund Wrap-20240826
•Last week, BLS revisions showed nonfarm payrolls were revised lower by 818k (greater than the 360k downward revision JPMorgan had expected) for period April 2023 to March 2024, implying a ~68k downward revision monthly.
•Meanwhile, the FOMC minutes revealed increased confidence in inflation returning to 2% and concerns about potential labor market deterioration. The minutes also indicated that if data trends continue, a policy easing at the next meeting would likely be appropriate.
•However, initial claims increased by 4k to 232k, matching consensus, and continuing claims rose by 4k to 1.863mn, slightly below the consensus of 1.870mn, indicating a slow cooling of the labor market instead of a rapid slowdown amidst high rates.
•We expect $CSOP USD Money Market Fund (18000597.FD)$ to continue to deliver stable yield in the near term. As of 20240823, the fund has gross yield of 5.48% and net yield at 5.13%. ^
![CSOP USD Money Market Fund Wrap-20240826](https://ussnsimg.moomoo.com/sns_client_feed/71451441/20240826/1724653276033-5983b6c12f.png/big?area=999&is_public=true)
![CSOP USD Money Market Fund Wrap-20240826](https://ussnsimg.moomoo.com/sns_client_feed/71451441/20240826/1724653276167-31d11b50d6.png/big?area=999&is_public=true)
Source: CSOP, Department of Labor, Bloomberg, as of 20240823. ^ Gross yield is based on annualized yield of underlying holdings. 7-day net yield is calculated based on calendar days and NAVs in 5-decimal.
Disclaimers
“The investment product(s), as mentioned in this document, is/are registered under section 286 of the Securities and Futures Act (Cap. 289) of Singapore (the “SFA”).This material and the information contained in this material shall not be regarded as an offer or solicitation of business in any jurisdiction to any person to whom it is unlawful to offer or solicit business in such jurisdictions. This document is not to be construed as recommendations to buy/sell any above-mentioned securities, or any securities in the above-mentioned sectors or jurisdictions.
CSOP Asset Management Pte. Ltd. (“CSOP”) which prepared this document believes that information in this document is based upon sources that are believed to be accurate, complete, and reliable. However, CSOP does not warrant the accuracy and completeness of the information, and shall not be liable to the recipient or controlling shareholders of the recipient resulting from its use. CSOP is under no obligation to keep the information up-to-date. The provision of this document shall not be deemed as constituting any offer, acceptance, or promise of any further contract or amendment to any contract. The information herein shall not be disclosed, used or disseminated, in whole or part, and shall not be reproduced, copied or made available to others without the written consent of CSOP.
Advice should be sought from a financial adviser regarding the suitability of the investment and/or investment product before making an investment. Investment involves risk. The value of investments, and the income from them, can go down as well as up and an investor may get back less than the amount invested. Past performance is not necessarily indicative of future performance. Investor should read the prospectus and product highlights sheet, which can be obtained on CSOP website or authorized participating dealers, before deciding whether to invest. This document has not been reviewed by the Monetary Authority of Singapore.”
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