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Can Singapore stocks continue the bull run into 2025? What does the city-state’s manufacturing and export outlook foretell? Is the Singapore dollar still competitive? See our analysis and investment recommendations in today’s report.

The December US Producer Price Index came in cooler than expected, increasing 0.2% m/m, a deceleration from 0.4% in November. Core PPI, excluding food and energy, was flat after increasing 0.2% a month prior. Inflation is a lagging variable, as reflected by…
The December NFIB Small Business Optimism Index beat expectations, jumping to 105.1 from 101.7 in November. Most index subcomponents increased, led by measure of expectations, notably for the state of the economy and real sales. After jumping 39 percentage…

UK and German bonds are victims of the global bond market riots. Will European yields continue to move higher and will the euro and the pound find a floor anytime soon? 

November factory orders in Germany widely missed estimates, falling by 5.4% m/m, worsening the 1.5% October decline. Excluding major orders, which often distort the overall picture, core new orders fell 1.7% y/y after growing 5.7% in October. The European…
December euro area inflation met expectations, with headline HICP printing at 2.4% y/y from 2.2% in November, and core steady at 2.7%, above the ECB’s target. Services inflation remains elevated at 4.0% y/y, up from 3.9% a month prior. While services…
11月の求人数は再び予想を上回り、10月の780万件から810万件に増加しました。しかし、採用数と自発的離職は減少し、解雇は増加しました。労働市場の需要の先行指標である退職と解雇の差は縮小しました。労働需要と供給の差である雇用ギャップはわずかにプラス圏に留まっており、労働市場は冷え込んでいることを示しています。…
The December ISM Services PMI beat estimates, increasing to 54.1 from 52.1 in November. All subcomponents increased except for employment, which nonetheless remains in expansion. The prices paid component was especially strong, increasing to 64.4 from 58.2.…
Economic data released over the holiday period extended recent trends, reflecting a softening global economy with resilient US growth, and an ailing manufacturing sector. The December global manufacturing PMI declined to 49.6 after reaching the 50 level in…