February 2020 Singapore Savings Bond
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Average Interest Per Year (over 10 years): 1.75%
Application Closes: 9.00pm, 28 Jan 2020
Details on this month SSB can be found on SGS website.
Weekly Updates
Before we can take a breather from all the negative news from US, we were hit by the news of the Wuhan virus. It felt like SARS is back but it seems that the Wuhan virus could be worst. I felt that the virus is more contagious and is spreading rapidly across China and region. Although the mortality rate is now still lower compared to SARS, it is unclear whether China is suppressing stats or will the virus mutates. We know that it is serious when China is locking down cities to prevent the spread of the virus.
STI has remained quite resilient after the news of the outbreak, but I am expecting the market to enter correction if the number of infected person keeps rising. I will accumulate on dips but it should be still early as SARS lasted for around 6 months. Singapore also has its very first case of Wuhan virus and it is inevitable that there would be more cases coming up due to the number of visitors arriving. Be prepared and act responsibly.
Stay safe and have a happy lunar new year!
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Medically the effect of wuhan virus should be lesser than sars as they're similar & we've got better experience to handle urban outbreaks, sequence dna & synthesize new drugs for such strains.
ReplyDeleteRemember that back in 2002/2003 china was much more suppressed & heavily censored in revealing the situation and numbers. Likely more than the officially reported 774 deaths & 8,000 infected for sars actually occurred.
Economically however, the effect will be sharper but shorter. Sharper as services now account for over half of China's GDP, as compared to 2003 when services only accounted for about 1/3. Shorter as pharmas will synthesize drugs faster.