In today’s briefing:
- UOB & DBS – Major Divergence In Bad Loans Over Past 2 Crises
- USD Trade Splinters
- The Collision of AI and Blockchain Technology
UOB & DBS – Major Divergence In Bad Loans Over Past 2 Crises
- UOB saw bad loans rise 22% during the GFC where DBS saw bad loans rise 146%
- During oil price collapse at FY16, DBS saw NPLs up 83%, UOB saw NPLs up 41%
- In current downturn, a market capitalization decline may be less at UOB vs DBS
USD Trade Splinters
- Our proposed USD bull trade from DXY 102.60 (104.80 target zone) is in jeopardy after the ECB induced Euro spike.
- Sterling has been our top USD short and the USD/JPY a top USD long. The Euro is under scrutiny but has been capped under 1.11.
- We will be looking for further evidence of USD bearish elements. DXY below 102 would be more bearish but would be in line with a near term slide in yield.
The Collision of AI and Blockchain Technology
- Human beings are engineers. Our historical narrative is marked by our constant ability to control our environment through innovative strides known as technology.
- Typically, our most significant collective progress is linked with technologies that enhance our capacity to distribute information and foster trust.
- Consider the societal transformation that occurred after the invention of the printing press. It was not just about more books – the dissemination of knowledge it facilitated catalysed the Scientific Revolution, forever altering our understanding of the world.
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