Hong Kong & Singapore REITs – What happens when someone else controls your...
As discussed yesterday Hong Kong & Singapore monetary policy is run by the US, meaning it is going to be very difficult to control liquidity and asset prices as the cost of capital increases. The...
View ArticleHong Kong & Singapore REITs – Driven by US data
A 2.8% rally in our HK / Sing REIT basket yesterday on the back of move in US yield curve following yesterdays worse than expected US ISM and construction spending data. HK / Sing REITS remain low...
View ArticleHK & SINGAPORE REITS: Breakout in US yield curve
US 2/10 yield curve, manages a close above the downtrend. This is the first pro-growth signal from the bond market is nearly a decade. As discussed at length recently we are concerned that with Hong...
View ArticleHong Kong and Singapore REITS: getting squeezed
As discussed at length recently we are concerned that with Hong Kong & Singapore monetary policy being run by the US, it is going to be very difficult to control liquidity and asset prices as the...
View ArticleAsia REIT: street trying to catch a falling knife
Following upgrades by some of our peers on the grounds of “valuation support”, we would re-iterate our view that there is plenty more downside to play for in the Singapore REIT space. Although the...
View ArticleSELL SINGAPORE REITS – Continue to SELL KREIT, MINT, SUN, CRCT
Best place in Asia to play rising US interest rate potential. Despite recent share price moves, history suggests the move has been less than half of what is warranted even should rates remain where...
View ArticleKREIT SP – Remain happy sellers
Results came in marginally better than we expected for the 2Q with a DPU of 1.97c (up 1.5% YoY) and a distribution yield of 6.1% for the Quarter. Furthermore they successfully completed the refinancing...
View ArticleRecord US treasury Yield
The market seems not to be able to decide which wins out; Positive China data meaning no hard landing – BUY CHINA Positive US data meaning US tapering – SELL everything (except the dollar) It is a...
View ArticleRecord US treasury Yield… AGAIN
US Yield curve made new highs YET AGAIN on Friday…. you know our view. BUY AVIATE YIELD CURVE BASKET BUY AVIATE ABEONOMICS BASKET BUY AVIATE REVAL BASKET BUY AVIATE USD STRENGTH BASKET. These trades...
View ArticleSELL SINGAPORE REITS – MUCH further to fall despite correction
US yield curve continues to steepen, making record 2 year highs. We have been calling for investors to SELL Singapore REITS since the end of May during which time they have fallen an average of 11%...
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