Event description
The best-performing stocks of 2020 and the start of 2021 are falling out of favor as traders and investors are collecting profits About this Event
As the US stock market weakens after a strong start of the year because of various concerns, US Treasury yields continue to rise, sending shivers down market watchers’ spines.
In the meantime, local bank stocks such as DBS, OCBC, and UOB benefitted from rising treasury yields and made some strong gains.
And as Budget 2021 was announced recently, the government signaled that $870 million will go to the badly beaten aviation sector - more than double of last year’s injection. Needless to say, counters such as SIA and SATS received love from the street.