The United States is just one day away from its presidential election. In our latest episode of Bank of Singapore Unplugged, our specialists take a deep dive into the macroeconomic implications of the various candidates.

If there is a Red Sweep and Donald Trump becomes president, we can expect a higher level of tariffs. Consequently, markets are beginning to factor in the inflationary effects of these tariffs, which is reflected in the trends of 10-year US Treasury Yields and the strength of the US dollar.

If there is a Blue Sweep and a Democratic victory, we may see potential changes in fiscal policy, such as an increase in the corporate tax rate.

Given these scenarios, what near-term factors should investors consider regarding credit spreads in fixed income?

Tune in to our latest episode featuring:

Globally, we are witnessing significant shifts that will influence the investment outlook for the upcoming year. The outcome of the US presidential election will have economic, geopolitical, and market implications.

In September, the US Federal Reserve initiated a rate cut, surprising many with a larger-than-expected reduction of 50 basis points. The Fed's rate cut cycle has generally encouraged other global central banks to adopt more accommodative monetary policies, thereby improving global economic and financial conditions.

In Asia, Japan is preparing for a change in leadership following its general elections in October, while the economy is undergoing transformations amid corporate reforms. Overall, the political and macroeconomic policy shifts happening worldwide are supportive of risk assets and are contributing to a broader equity rally on a global scale.

Tune in to the latest episode of our podcast for more insights by Jean Chia, Global Chief Investment Officer at Bank of Singapore.

In this podcast episode, our Chief Investment Strategist, Eli Lee, discusses the recent unveiling of four key policies during last Saturday's briefing at China's Ministry of Finance. 

The policies focus on supporting local government, state banks, the property sector, and specific demographic segments. While these steps are important, failing to meet unrealistic investor expectations of a large fiscal headline figure could lead to near-term volatility. 

Minister of Finance Lan Fo’an provided important forward guidance in terms of increased central government debt issuance and deficit spending. This is unusual and signals Beijing’s mandate to forcefully turn around the property market and the economy. Tune in to our latest episode for more insights into the policy announcement.

Our latest podcast episode will explain what sukuk are and how they differ from conventional bonds.

Sukuk are financial certificates structured to comply with Islamic (or Shariah) Law.

Sukuk represented about 29% of the broader Islamic finance industry, valued at USD 3.3 trillion in 2023. The sukuk market is expected to continue to grow in the near-to-medium term, with year-to-date issuance figures suggesting it will surpass USD 1 trillion by the end of 2025.

Tune in to our latest episode with David Makoni, Senior Fixed Income Research Analyst, as he shares the bank’s insights into sukuk as a growing asset class and portfolio diversifier.

In our latest podcast episode, we will be discussing some of the key challenges and opportunities associated with Indonesia’s carbon transition path.

With a target to achieve net zero carbon emissions by 2060, energy transition is a key policy agenda of the Indonesian government and remains important in the longer term.

However, as the country develops its renewable energy capacity and seeks cheaper financing sources to help with the gradual transition, the government also needs to ensure that clean energy generates economic benefits and replaces jobs lost in the fossil fuels sector, to avoid the downside risks to the social pillar of ESG.

Tune in to our latest episode with Boh Hui Ling, Senior Fixed Income Research Analyst, as she shares more on the outlook ahead.

Singapore recently commemorated its 59th year of independence.

At his inaugural National Day Rally as Prime Minister (PM), PM Lawrence Wong highlighted several significant long-term development projects, aimed at creating a more vibrant and inclusive society, ensuring the nation would be more well-equipped for the future. 

This includes greater emphasis on upskilling, enhancements to the education system, more emphasis on family, and more recreation and sports facilities. These commitments would also lead to more investments in talent development for arts and sports, along with building new infrastructure and housing. 

This “Forward Singapore” roadmap will require a major reset in policies, including keeping any regulatory burdens for companies to a minimum for businesses.

Tune in to our latest episode with Carmen Lee, Bank of Singapore’s senior Singapore investment strategist, as she shares more on the outlook ahead.

This discussion looks at the implications of transitioning from a unipolar to a multipolar world for investors. In their discussions, our panel of experts examine the characteristics of this permacrisis and identify key factors driving the new balance of power. The conversation also focuses on how investors can adapt their strategies to seize new opportunities and manage risks in this changing landscape.

Speakers:

The rapid-fire succession of crises and conflicts these past few years feels unprecedented. Is the world on the brink of a new order, and if so, how can we create progress from disruption? In this session, Adam Posen, President, Peterson Institute for International Economics and our Chief Economist, Mansoor Mohi-uddin explore the emerging new order, what it means to confront a future where competition for vital resources will intensify, and the implications for global power dynamics and the economy.

Our Global Chief Investment Officer Jean Chia, Chief Economist, Mansoor Mohi-uddin and Chief Investment Strategist, Eli Lee offer a fascinating analysis of the megatrends that are unfolding today – from pivotal elections and changes in the balance of power to allocating capital in the face of climate change and AI – providing unique insight and strategies for investors to navigate a world in flux.

How can we power the future of AI without sacrificing the environment? In this session, Mark Carney, Chair and Head of Transition Investing, Brookfield Asset Management speaks with our  Chief Investment Strategist, Eli Lee, to explore the potential clash between the promise of AI and the critical need for a sustainable future, delving into what this polarity means, the potential for political division on regulations impacting AI technology, as well as investment opportunities that can reconcile AI development with the green agenda.