thom ng.

Dear Clients, The S&P 500 has once again pushed towards all-time highs, recovering swiftly from the recent geopolitical-driven correction. On the surface, price action suggests that all is well. Yet beneath the headlines, the underlying economy appears far less convincing. We continue to see signs of softness in the economy - weaker job prints, moderating consumer sentiment, and rising credit stress. Closer to home, even the Singapore economy is not immune, with retrenchments