Results on 8th May 2024
$UOB(U11.SG$ Expecting strong results based on US banks results this week. 🚀
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1M65 : haha..doubt it. US banks share price drop cause they caution about forward earnings. banks survive on interest. Mr market looks and trade forward not backward
MrM OP 1M65 : Kashkari Says Fed Could ‘Potentially’ Hold Rates Steady All Year They might even raise rate again if inflation remains sticky and Middle East conflict escalate causing even higher inflation due to higher oil price. There is uncertainty now since others are factoring rate cut before, now that is a question mark hence US market especially tech is correcting now
1M65 MrM OP : sure, can do either way.. however, ultimately fed will still cut rates and market always move forward much faster.. Fed can't kp interest at a high for a long time or risk running into a recession..
1M65 MrM OP : US banks drop quite alot after earning report although they did reasonably well. why, cause market anticipated interest cuts way earlier than communication.
forward guidance by bank warn on decrease
MrM OP 1M65 : Yes ultimately they will have to cut if not recession will come eventually if high for too long BUT no one knows when and how low since us economy is still strong with lots of liquidity, no big reason to cut that soon, fearing the return of high inflation again. They are monitoring hence not promising a for sure rate cut now and anything can happen be it rate hike or rate cut with such uncertainty in the world now. Go with the flow bah. In the meantime, let’s enjoy the ride up for sg banks.
1M65 MrM OP : indeed, go with the flow..ride and surf the wave.. patience is the essence of earning extra pocket money..building wealth for retirement and pocket money
MrM OP 1M65 : Yeah indeed. Whatever that works man. Just need to be flexible and adjust accordingly