The Week In Numbers: Fly Me To The Moon

Someone has let the cat out the bag. An influential member of the US central bank has indicated that interest rates could rise in September. Currently the Fed Funds Rate is 0.5%. William Dudley said the US is edging closer to where it will be appropriate to raise interest rates further. But he added that it depends on the data. Where have we heard that before?

Rumours are swirling that OPEC could step in to curb oil production. There is speculation that the oil cartel could soon revive talks on freezing oil output levels when they meet next month. But that could hinge on whether Iran will take part in the meeting in Algiers. The price of a barrel of Brent crude hit a six-week high of $49.

The brokers are at it again. They are now fawning over Singapore REITs. It was not that long ago when they couldn’t stand the sight of them. They believe that valuations are not over-stretched and they reckon that S-REITs are some of the cheapest compared to other REIT markets. I ask you – what are they like. One of their preferred REITs is Keppel DC REIT (SGX: AJBU), which has a historic yield of 5.5%.

The Shanghai Composite Index rallied to a seven-month high of 3,100 points this week. There are hopes that the People’s Bank of China might perform some monetary gymnastics, following a raft of bad economic data last week. Sentiment was also boosted by news that the Shenzhen-Hong Kong Stock Connect scheme would go ahead. Didn’t they say the same thing about the Shanghai-Hong Kong Stock Connect?

And finally, there is really only one number that matters this week. Joseph Schooling set a new Olympic record in the 100m butterfly and won Singapore’s first gold Olympic medal in a time of 50.39 seconds. He has now set his sights on beating Michael Phelps’ world record of 49.82 seconds. Well done, Joseph!

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