The 10-year US Treasury yield reached a one-year high of 1.6% on the back of the approval of a US$1.9 Trillion COVID-19 aid package. It was the rate of increase that caused the market to be unsettled. The move higher in rates is unnerving investors fearing it could be driven by inflation rather than economic recovery.
In anticipation that the Fed might raise interest rates to curb runaway inflation, intense regulatory scrutiny on Chinese Tech firms and global vaccine rollout are some of the reasons why investors saw the Tech sectors retracted from their highs.
Benjamin Chan is a technical and quantitative analyst with CGS-CIMB Research. Benjamin writes for the “HK Trendspotter”, CGS-CIMB’s regional technical analysis publication, and assists in the development & management of in-house quantitative trading/ investment models and strategies. Building on over 5 years of FX and financial markets experience, he also work alongside our Chief Investment Officer Lim Say Boon, researching the main FX pairs, contributing to our FX Weekly – a macro-economic background piece with outlook on the currency pairs, supported by technical analysis.
Adrian Chew is the Vice President, Sales and Product Strategy (S.E.A) at CSOP. At CSOP Asset Management, Adrian oversees ETF investment solutions for Brokers, Wealth Managers, and Family Offices in Singapore. Adrian is also part of a team responsible for developing sales strategy and strategic partnerships with institutions in South East Asia. Prior to joining CSOP Asset Management, he worked for RHB Asset Management where he was a Business Development Manager for mass and affluent Investors, Wealth Managers, and Intermediaries. Before that, Adrian was working for Phillip Securities and CGS-CIMB Securities in various roles, including equity advisory sales and trading, Business and Product Development.
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