In absolute no surprise , the FED hiked the interest rate and they expect 1 more hike this year . we see spillover effect into the Singapore market where the spot SORA moved from 1% to 1.2% or so. However forward looking Sora Interest rate swaps are pricing in movement of 1.7% for the next year .
However , lots of uncertainty remains as Iran war is not yet settled , and US mid terms elections are coming out soon. If the Democrates win , i predict that trump will be tamed down and we should expect more stability.
$Bank of New York Mellon(BNY)$ $DBS(D05.SI)$ $OCBC Bank(O39.SI)$
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