Some Memories

Singapore ranks at 8th

Benchmark 10-year Treasury yields hit their highest since 2011 on Monday and a key part of the yield curve inverted for the first time since April as investors braced for the prospect that Fed attempts to stem soaring inflation would dent the economy. The yield on benchmark 10-year Treasury notes rose to 3.3466 per cent compared with its US close of 3.371 per cent on Monday. The two-year yield, which rises with traders' expectations of higher Fed fund rates, touched 3.3804 per cent compared with a US close of 3.281 per cent. https://www.channelnewsasia.com/business/asian-stocks-slide-fed-hike-fears-tip-wall-street-bear-market-2744971

Free RapidKL rides for a month in conjunction with Putrajaya MRT launch By January next year, Phase two of the Putrajaya MRT completed and trains will pass through the entire route from Kwasa Damansara to Putrajaya, marking the end of the line. https://www.thestar.com.my/news/nation/2022/06/16/free-rapidkl-rides-for-a-month-in-conjunction-with-putrajaya-mrt-launch

Fed Chair Jerome Powell said it was "essential" to lower inflation, and policymakers "have both the tools we need and the resolve it will take to restore price stability on behalf of American families." He stressed that the goal is to achieve that without derailing the US economy, but acknowledged there is always a risk of going too far. The Fed's policy-setting Federal Open Market Committee raised the benchmark borrowing rate to a range of 1.5 to 1.75 per cent, up from zero at the start of the year. It was the first 75-basis-point increase since November 1994. Powell told reporters the move was "an unusually large one," but he does not expect "moves of this size to be common."