In today’s briefing:
- OCBC Vs DBS – Vast Differences in Yields on Financial Assets and New Risk in past Four Years
- Ohayo Japan | S&P Ends Lower Ahead of Powell Testimony
- Furniture/Furnishings Weekly – Focus on Three Earnings Reports This Week
- The Highlights – Cannabis News for the Week Ending March 1, 2024
- Weekly Sustainable Investing Surveyor – Week Ended March 1, 2024
OCBC Vs DBS – Vast Differences in Yields on Financial Assets and New Risk in past Four Years
- The yields on financial assets at DBS is now 3.92% for FY23. This compares with 4.64% for OCBC.
- The change in yields on financial assets at DBS in the past year is 160bps compared with 194bps for OCBC.
- From FY19 to FY23 OCBC has only added SGD70bn to its total financial assets or +19%. DBS added SGD169bn or +28% over this period.
Ohayo Japan | S&P Ends Lower Ahead of Powell Testimony
- S&P ends lower as Apple receives a 1.8 billion euro antitrust fine from the EU; APPL -2%
- Crypto stocks lead gainers as Bitcoin surges +7% to $67,000. Super Micro Computer jumps +18% on AI
- China is anticipated to set its annual growth rate for 2024 at “around 5%” during the upcoming National People’s Congress
Furniture/Furnishings Weekly – Focus on Three Earnings Reports This Week
- After a quiet week in the sector, three earnings reports will get the attention of investors in the furniture/furnishings space this week.
- Culp Inc. will report its 3QFY24 results after the close on Wednesday, March 6 and host an investor call at 11:00 am on Thursday, March 7.
- We expect EPS of a loss of $0.22 on revenue of $60 million. Consensus is EPS of a loss of $0.19 on revenue of $59.5 million.
The Highlights – Cannabis News for the Week Ending March 1, 2024
- The US cannabis MSOS ETF fell 7.80% last week, its third loss in the last four weeks.
- Earnings this week were relatively strong, but sentiment around federal reform may be driving short-term prices.
- Despite the sell- off, MSOS had $1.8 million in inflows. The global YOLO ETF held up better, losing 1.89% over the last five sessions.
Weekly Sustainable Investing Surveyor – Week Ended March 1, 2024
- The WTR Sustainable Index was up by 4.3% W/W versus the S&P 500 Index (up 0.9%), the Russell 2000 Index (up 3.0%), and the Nasdaq Index (up 2.0%).
- Energy Technology (12.7% of the index) was up by 3.9%, while Industrial Climate and Ag Technology (53.5% of the index) was up by 1.4%, ClimateTech Mining was down 0.7% and Advanced Transportation Solutions (27.9% of index) was up 11.2%.
- Top 10 Performers: ENG, AMY, TPCS, HYLN, VIEW, XOS, AMYZF, SMR, EVA, PMET,
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