Bank of Singapore

Speaker: Mansoor Mohi-uddin, Chief Macro Strategist, Bank of SingaporeThe UK appears to face a perfect storm. The energy shock from the US-Iran war has caused inflation to start rising again above 3%. Lacklustre growth has led to unemployment reaching five-year highs and Prime Minister Starmer’s position looks increasingly untenable just two years after winning a landslide general election. But the bearish outlook may only be short-lived. Fearful markets are likely to present fresh opportunities for longer-term investors in UK assets. In our Top-of-Mind podcast series, we unpack the various dimensions of these issues with leading business leaders and industry experts globally. Visit ⁠⁠⁠⁠⁠this page⁠⁠⁠⁠⁠ for the latest investment insights from Bank of Singapore.Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.

Speakers: Jayne Bok, Head of Investments, Asia, WTWAlexandra McGuigan, Head of APAC, Qblue BalancedDr. Owi Ruivivar, Chief Portfolio Strategist, Bank of SingaporeJean Chia, Global Chief Investment Officer, Bank of SingaporeModerator: Joseph Ng, Senior Investment Strategist, Bank of SingaporeTraditional portfolio design that has served investors well for decades may need to be reassessed. Measures of diversification and correlation that once guided investment decisions have become less reliable amid evolving market regimes. What is needed today is a refreshed framework – structured enough to anchor risk, yet flexible enough to adapt to an increasingly complex investment environment. In that regard, Bank of Singapore's CIO II is proud to share our unique perspective on navigating this dynamic investing landscape today. Drawing inspiration from the Total Portfolio Approach (TPA) adopted by leading institutional investors, we distilled the best of those principles and practices into a framework purpose-built for the private wealth domain – the Whole Portfolio Approach (WPA). At the core of WPA is a fundamental shift – away from siloed asset class thinking towards portfolio-level decision-making anchored on client objectives. Every allocation is assessed not in isolation, but through a whole portfolio lens and the underlying drivers of risk and return that cut across asset classes. The result is a framework calibrated to deliver resilient, long-term outcomes.Visit ⁠⁠⁠⁠⁠⁠this page⁠⁠⁠⁠⁠⁠ for the latest investment insights from Bank of Singapore.Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.

Speaker: Mansoor Mohi-uddin, Chief Macro Strategist, Bank of SingaporeModerator: Joseph Ng, Senior Investment Strategist, Bank of SingaporeKevin Warsh, a former Federal Reserve Governor, has been nominated by President Trump to succeed Jerome Powell as Fed Chair when Powell's term concludes in May. Given the Fed’s importance and influence in global financial markets, what do Warsh’s priorities, the Fed’s relationship with the administration and also implications for risk assets look like moving forward?In our Top-of-Mind podcast series, we unpack the various dimensions of these issues with leading business leaders and industry experts globally. Visit ⁠⁠⁠⁠this page⁠⁠⁠⁠ for the latest investment insights from Bank of Singapore.Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.

Speakers: Megan Teo, Vice President, Sustainability and Sustainable Finance, SGX GroupDaniel Yeung, Co-Founder & Principal, Tigris Water FundBenjamin Towell, Executive Director, OCBC Wholesale Banking Sustainability Office, OCBC GroupModerated by: Christine Cheong, Head, Sustainability Partners, Bank of SingaporeJoin us at the Sustainability Showcase, where we feature thought leaders from OCBC, Bank of Singapore and sustainability players as they share their success, challenges and hacks in maintaining conviction for sustainable investing, decarbonisation, sustainable business outcomes and more.Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.Visit ⁠⁠⁠⁠⁠this page⁠⁠⁠⁠⁠ for the latest investment insights from Bank of Singapore.

Speaker: Low Pei Han, Head of Equity Research, Bank of SingaporeJoin us at the Sustainability Showcase, where we feature thought leaders from OCBC, Bank of Singapore and sustainability players as they share their success, challenges and hacks in maintaining conviction for sustainable investing, decarbonisation, sustainable business outcomes and more.Visit ⁠⁠⁠⁠⁠⁠this page⁠⁠⁠⁠⁠⁠ for the latest investment insights from Bank of Singapore.

Speakers: Govind Alagappan, President, GradiantGlobal society is undergoing fundamental change, with human choices driving profound shifts in demographics, consumption, and capital flows. The conference pivots to explore the CIO’s focus on three human-centric forces: Live (greater longevity and demographic changes); Play (shifting consumption trends alongside the critical role of sustainable resource management and climate resilience) and Love (trends in lifestyle that are moving wealth, talent and consumer demand across borders).How can we, as observers of society and stewards of wealth, truly understand the structural changes driven by greater longevity, the evolving nature of human work and resource scarcity, and the global remapping of life and love?Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.Visit ⁠⁠⁠⁠⁠⁠this page⁠⁠⁠⁠⁠⁠ for the latest investment insights from Bank of Singapore.

Speakers: Venki Ramakrishnan, Nobel Laureate in ChemistryGlobal society is undergoing fundamental change, with human choices driving profound shifts in demographics, consumption, and capital flows. The conference pivots to explore the CIO’s focus on three human-centric forces: Live (greater longevity and demographic changes); Play (shifting consumption trends alongside the critical role of sustainable resource management and climate resilience) and Love (trends in lifestyle that are moving wealth, talent and consumer demand across borders).How can we, as observers of society and stewards of wealth, truly understand the structural changes driven by greater longevity, the evolving nature of human work and resource scarcity, and the global remapping of life and love?Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.Visit ⁠⁠⁠⁠⁠⁠this page⁠⁠⁠⁠⁠⁠ for the latest investment insights from Bank of Singapore.

Speakers: Loh Boon Chye, Chief Executive Officer, SGX GroupGlobal society is undergoing fundamental change, with human choices driving profound shifts in demographics, consumption, and capital flows. The conference pivots to explore the CIO’s focus on three human-centric forces: Live (greater longevity and demographic changes); Play (shifting consumption trends alongside the critical role of sustainable resource management and climate resilience) and Love (trends in lifestyle that are moving wealth, talent and consumer demand across borders).How can we, as observers of society and stewards of wealth, truly understand the structural changes driven by greater longevity, the evolving nature of human work and resource scarcity, and the global remapping of life and love?Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.Visit ⁠⁠⁠⁠⁠this page⁠⁠⁠⁠⁠ for the latest investment insights from Bank of Singapore.

Speakers: Jean Chia, Global Chief Investment Officer, Bank of SingaporeEli Lee, Chief Investment Strategist, Bank of SingaporeMansoor Mohi-uddin, Chief Macro Strategist, Bank of SingaporeA new, more fractured world is emerging to replace the old US-led order of free markets, free trade and globalisation that prevailed after the end of the Cold War. This more fragmented world order could result in persistent inflation, higher interest rates, a weaker USD, record gold prices and stronger demand for safe haven assets over the next 5-10 years. Diversification has thus never been more important for investors looking to construct resilient portfolios.At the same time, we see abundant investment opportunities in 2026. Asia’s growth trajectory positions the region as an attractive investment destination as US-exceptionalism comes under scrutiny. Secular trends such as AI and the green transition remain firmly in the radar of investors while greater longevity and shifting consumption patterns could require recalibration of portfolios positioned for the long-term.Visit ⁠⁠⁠⁠⁠this page⁠⁠⁠⁠⁠ for the latest investment insights from Bank of Singapore.

Speakers: Lael Brainard. Former Vice Chair of the Federal Reserve Board, Former Director of White House National Economic CouncilModerated by: Jean Chia, Global Chief Investment Officer, Bank of SingaporeWith the appointment of a new US Fed Reserve chair in 2026, the changing dynamics of the Fed policy making process, how will the Fed’s decisions to balance its dual mandate for jobs and price stability to impact global macroeconomics and markets?Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.Visit ⁠⁠⁠⁠⁠this page⁠⁠⁠⁠⁠ for the latest investment insights from Bank of Singapore.

Speakers: Chee Hong Tat, Minister for National Development, Republic of Singapore, Deputy Chairman, Monetary Authority of SingaporeModerated by: Jason Moo, Chief Executive Officer and Head of Private Banking, Bank of SingaporeJason Moo, CEO, Bank of Singapore, is joined by Guest of Honour, Mr Chee Hong Tat, Minister for National Development and Deputy Chairman of the Monetary Authority of Singapore in an engaging conversation exploring Singapore’s evolving role within ASEAN, and the need for stronger regional integration.  Mr Chee shares his insights on reducing trade barriers and mobilising impactful, long-term capital to navigate a rapidly shifting global landscape.Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.Visit ⁠⁠⁠⁠this page⁠⁠⁠⁠ for the latest investment insights from Bank of Singapore.

Speaker: Dr Guo Kai, Executive President and Senior fellow, CF40 InstituteModerator: Eli Lee, Chief Investment Strategist, Bank of SingaporeChina's equity market has delivered an impressive run over the past year, even amid macroeconomic headwinds. The key questions now centre on how policymakers will drive the country's growth and navigate the unpredictable geopolitical landscape. At the same time, investors are closely watching the evolution of AI’s development and adoption in China as it seeks to compete on the global stage in this critical technological area.In our Top-of-Mind podcast series, we unpack the various dimensions of these issues with leading business leaders and industry experts globally. Visit ⁠⁠⁠this page⁠⁠⁠ for the latest investment insights from Bank of Singapore.Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.

Speaker: Boh Hui Ling, Head of Fixed Income Strategy, Bank of Singapore Inversions between corporate and sovereign bond yields are becoming more common, challenging the long-held notion of sovereigns as the risk-free benchmark.Recent trends have shown top-tier corporates like Microsoft and Johnson & Johnson are now trading at tighter spreads than US Treasuries. This reflects strong corporate fundamentals and scarcity value, amid rising sovereign debt and frequent government issuance. At the same time, stress is emerging in lower-rated credit segments, with recent credit events pointing to potential fault lines. What does this mean for fixed income positioning?For more market insights, go to ⁠⁠⁠⁠⁠⁠⁠⁠Bank of Singapore Insights⁠⁠⁠⁠⁠⁠⁠⁠ to check out our Chief Investment Office's research publications.

Speaker: Mansoor Mohi-Uddin, Chief Macro Strategist, Bank of Singapore As widely expected, the Federal Reserve (Fed) has resumed cutting interest rates for the first time this year, lowering the fed funds rate by 25 basis points to 4.00-4.25%. This move aims to support a slowing US labour market amid rising downside risks to employment, even as inflation remains stubbornly above the Fed’s 2% target. Updated forecasts from the Fed show GDP growth slowing significantly in 2025, influenced in part by ongoing US tariffs.Notably, the Fed continues to maintain its independence from political pressures, with Chairman Powell describing the recent cut as a cautious “risk management” step rather than the start of a broad easing cycle.For more market insights, go to ⁠⁠⁠⁠⁠⁠⁠Bank of Singapore Insights⁠⁠⁠⁠⁠⁠⁠ to check out our Chief Investment Office's research publications.

Speaker: Joseph Zidle, Chief Investment Strategist , Blackstone Private WealthModerator: Eli Lee, Chief Investment Strategist, Bank of SingaporeThe AI revolution has come with lofty expectations that it will fundamentally reshape how we interact with the world around us. What will be the impact of AI on the economy and the investment landscape, and how should investors position themselves? With tremendous sums of capital being invested, what are the risks that AI is in a bubble today?In our Top-of-Mind podcast series, we unpack the various dimensions of these issues with leading business leaders and industry experts globally. Visit ⁠⁠this page⁠⁠ for the latest investment insights from Bank of Singapore.Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.

Speaker: Sim Moh Siong, Currency Strategist, Bank of Singapore Since Liberation Day, global markets have experienced significant shifts driven by trade uncertainty, fiscal risks, geopolitical tensions, and concerns over the US Federal Reserve’s independence. What does this mean for the US dollar and global investors?AI-driven optimism in US equities and the Fed’s cautious stance on rate cuts have supported the dollar for now, with foreign investors still favouring US assets. However, slowing US growth and political pressure on the Fed could undermine the dollar’s stability. History shows that weaker central bank autonomy often accelerates USD declines and lifts gold’s safe-haven appeal.For more market insights, go to ⁠⁠⁠⁠⁠⁠Bank of Singapore Insights⁠⁠⁠⁠⁠⁠ to check out our Chief Investment Office's research publications.

Speaker: Paula Campbell Roberts, Chief Investment Strategist for Global Wealth, KKR,Moderator: Eli Lee, Chief Investment Strategist, Bank of SingaporeMacroeconomic uncertainty is intensifying against the backdrop of tariff risks and growing concerns over inflation and US fiscal sustainability. Investors are also increasingly questioning the US exceptionalism narrative, even as the rally in US equities to new records reflects significant optimism for now. How should investors position themselves to stay relevant in a shifting global landscape?In our Top-of-Mind podcast series, we unpack the various dimensions of these issues with leading business leaders and industry experts globally. Visit ⁠this page⁠ for the latest investment insights from Bank of Singapore.Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.

Speakers:Dr. Adam Posen, President, Peterson Institute for International EconomicsFabiana Fedeli, Chief Investment Officer, Equities, Multi-Asset and Sustainability, M&G InvestmentsDr. Guo Kai, Executive President and Senior Fellow, CF40 InstituteJoseph Zidle, Chief Investment Strategist, Private Wealth, BlackstoneRobin Hu, Asia Chair, Milken Institute; Advisor Senior Director, TemasekStephen Green, Ph.D., Economist, Capital GroupTorsten Slok, Chief Economist, ApolloYuichi Murao, Chief Investment Officer, Nomura Asset ManagementModerator: Jean Chia, Global Chief Investment Officer, Bank of SingaporeWith the seismic changes to the global order catalysed by the Trump administration, we see a crucible for global shifts away from the US-led order of free markets, free trade and globalisation that have prevailed since the end of the Cold War. The 2025 Supertrends capture the structural shifts that are impacting us across geopolitics, economics, investments, technology and demographics expected to pan out over the next five years. Members of the Bank of Singapore CIO Global Advisory Council will offer their viewpoints in a dynamic panel discussion on what these structural shifts mean for investors and businesses worldwide.Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.

Speakers:Robin Hu (胡以晨), Asia Chair, Milken Institute; Advisor Senior Director, TemasekDr. Guo Kai (郭凯), Executive President and Senior Fellow, CF40 InstituteStephen Green, Ph.D. (王志浩, 博士), Economist, Capital GroupModerator: Jean Chia (谢佩华), Global Chief Investment Officer, Bank of Singapore当前决策者所面临的最大挑战，是中美在地缘经济、科技、贸易等领域的竞争。冷战后多边主义和全球化兴起，推动全球经济发展，但随着这一全球秩序瓦解，各国或将根据共同利益和议程形成临时联盟。本行邀请知名智库专家，深度对话中美两大经济体的全球博弈，以及在全新世界秩序下，欧洲、中东及亚洲所扮演的全新角色。Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.

Speakers: Eli Lee (李依莱), Chief Investment Strategist, Bank of SingaporeBoh Hui Ling (傅慧玲), Head, Fixed Income Research, Bank of Singapore在市场动荡、政策不明的背景下，打造稳健的投资组合乃当务之急。全球市场正面临经济政策分化、地缘政治变迁、科技进步与人口结构转型等多重挑战。在此背景下，新加坡银行首席投资策略师李依莱先生与高级研究分析师傅慧玲女士将分享各自见解，探讨投资者应如何重新思考并调整投资配置，构建涵盖各类资产、地域及风格的投资组合，从容应对不确定性。

Speakers: Dr. Adam Posen, President, Peterson Institute for International EconomicsRobin Hu, Asia Chair, Milken Institute; Advisor Senior Director, TemasekDr. Guo Kai, Executive President and Senior Fellow, CF40 InstituteModerator: Mansoor Mohi-uddin, Chief Economist, Bank of SingaporeThe US-China contest for supremacy across geo-economics, technology, trade and other arenas is the greatest challenge facing policymakers today. As world order fragments, countries may form shifting coalitions and alliances based on common interests and agendas - a marked shift from the multilateralism and globalisation that has benefited the world economy since the end of the Cold War. We invite experts from leading think tanks, Peterson Institute of International Economics (PIIE), Milken Institute and CF40 to engage in a discussion on the relationship between the world’s two largest economies as they joust for global dominance and how the roles of Europe, the Middle East and Asia will change in the new world order.Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.

Speakers: Jean Chia, Global Chief Investment Officer, Bank of SingaporeEli Lee, Chief Investment Strategist, Bank of SingaporeDr. Owi Ruivivar, Chief Portfolio Strategist, Bank of SingaporePossessing a robust portfolio has never been more important, especially in the face of market volatility and policy ambiguity. Bank of Singapore’s Global Chief Investment Officer Jean Chia, Chief Investment Strategist, Eli Lee and Chief Portfolio Strategist, Dr. Owi Ruivivar offer insights into how investors can re-think and re-position their portfolios across asset classes, countries and styles to prepare for the uncertainties ahead, as global markets grapple with diverging economic policies, geopolitical shifts, technological advances and demographic trends worldwide.

Speaker: Mike Gitlin, President & Chief Executive Officer, Capital GroupModerator: Eli Lee, Chief Investment Strategist, Bank of SingaporeThe investment landscape is getting increasingly uncertain with heightened fears over trade, stagflationary risks, and geopolitical conflicts in Russia-Ukraine and the Middle East. How should global investors today approach the markets?In our Top-of-Mind podcast series, we unpack the various dimensions of these issues with leading business leaders and industry experts globally. Visit this page for the latest investment insights from Bank of Singapore.Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.

Join our in-depth conversation with Bank of Singapore’s Global Chief Investment Officer, Jean Chia and John Emerson, the vice chair of leading US fund manager Capital Group International. As a former US diplomat, John will shed light on the shifts in US foreign policy and the potential impact on global economics and the changing world order.Will Trump Make America Great Again (MAGA)? In this dialogue, we will unpack the fundamental differences between Trump and previous administrations. This then paves the way for a more nuanced understanding of other key topics on the US such as potential guardrails against capricious policymaking, tariffs, US exceptionalism and immigration. We will also delve into important geopolitical issues, including choices relating to potential US involvement in the ongoing Israel-Iran conflict, and the path forward for Europe’s defence buildup. Finally, we will also cover the topic of immigration and how it plays an important role in global demographic trends.For more market insights, go to ⁠⁠⁠⁠⁠⁠Bank of Singapore Insights⁠⁠⁠⁠⁠⁠ to check out our Chief Investment Office's research publications. Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.

Speaker: Carmen Lee, Singapore Strategist, Bank of Singapore It has been an unpredictable period for markets since the start of the year, with wide swings in prices. With the significant gyrations in market prices and unstable global economic dynamics, the question is: what does this mean for Singapore?Singapore has the advantage of a stable economy, and with the recent election securely returning the ruling party to government, we expect foreign investments to continue flowing into the country. What stood out in particular for the Singapore market is the attractive 5.6% dividend yield, which is a huge sweetener on a total annual return basis.However, to support these valuations and dividend yields, it is key to take a look at the earnings outlook and trend.For more market insights, go to ⁠⁠⁠⁠⁠Bank of Singapore Insights⁠⁠⁠⁠⁠ to check out our Chief Investment Office's research publications.

Speaker: Torsten Slok, Chief Economist, Apollo Global ManagementModerator: Eli Lee, Chief Investment Strategist, Bank of SingaporeThe downgrade by Moody’s of the US government’s credit rating has reignited concerns over rising fiscal concerns, even as risk assets have staged a recovery after Liberation Day. While US-China reciprocal tariffs are now on hold, it remains difficult to ascertain if tensions will re-escalate again in future. As we look into 2026, the US mid-term elections could result in the Trump administration having to prioritise more market-friendly policies, but there remains the question as to whether risk assets have already quickly priced this in.In our Top-of-Mind podcast series, we unpack the various dimensions of these issues with leading business leaders and industry experts globally. For more market insights, go to ⁠⁠⁠Bank of Singapore Insights⁠⁠⁠ to check out our Chief Investment Office's research publications. Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.

Speaker: Mansoor Mohi-Uddin, Chief Economist, Bank of SingaporeThe decline of US exceptionalism underscores the need for diversified investment portfolios across various asset classes and currencies. While the EUR, GBP, and JPY are notable alternatives to the USD, the Singapore Dollar (SGD) emerges as a compelling option.The SGD has demonstrated long-term strength, appreciating against the USD since its independence in 1965. Managed by the Monetary Authority of Singapore (MAS), the SGD is targeted for stability and gradual appreciation, backed by substantial foreign reserves and a robust economy. Despite potential risks like trade wars, the SGD's fundamentals suggest it could reach parity with the USD, similar to the Swiss Franc post-2008 financial crisis.For more market insights, go to ⁠⁠⁠⁠Bank of Singapore Insights⁠⁠⁠⁠ to check out our Chief Investment Office's research publications.

Speaker: Sumit Narayanan, Managing Partner and ASEAN Financial Services Leader, EYModerator: Karthik Shenoy, Head of Platforms and Integration, Bank of SingaporeHow can private banks harness the power of AI to supercharge their sustainability initiatives?In this episode, they’ll delve into the transformative role of AI in shaping the private banking sector. Discover how leading institutions are adopting AI to drive responsible innovation, enhance operational efficiency, and champion sustainable practices.  Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.

Speaker: Boh Hui Ling, Head of Fixed Income Research, Bank of SingaporeRecent synchronised moves in US assets has received much attention. While US treasuries typically act as a hedge against weak equity markets, we saw positive correlation during the month, with treasuries moving lower together with stocks and dollar.The weakness across US-related assets prompted questions on whether treasuries and the dollar are losing their safe-haven status as investors look elsewhere amid policy uncertainty.For more market insights, go to ⁠⁠⁠Bank of Singapore Insights⁠⁠⁠ to check out our Chief Investment Office's research publications.

Speaker: Chu Peng, Equity Research Analyst, Bank of SingaporeLast year, Chinese consumer stocks faced challenges from a slow economy, job market uncertainties, and a declining yuan. However, recent signs of improvement include better market sentiment, stabilising demand, and supportive policies.In March, the government announced that it is actively promoting domestic consumption through a 30-point plan focused on job creation, wage growth, and welfare programmes. While specific subsidy figures are not yet available, the commitment to reviving consumption is evident.For more market insights, go to ⁠⁠Bank of Singapore Insights⁠⁠ to check out our Chief Investment Office's research publications.

Speaker: Eli Lee, Chief Investment Strategist, Bank of SingaporeIn his latest announcement, President Trump stated that he would impose a 25% tariff on imports from Canada and Mexico, as well as an additional 10% tariff on imports from China, effective March 4. Are Trump’s new tariffs a game-changer for the global economy?For more market insights, go to ⁠Bank of Singapore Insights⁠ to check out our Chief Investment Office's research publications.

Speaker: Low Pei Han, Head of Equity Research, Bank of SingaporeThe COVID-19 pandemic disrupted many industries, prompting businesses to reevaluate their supply chains. How are trends like reshoring and changing demographics influencing the growth of automation and robotics?For more market insights, go to Bank of Singapore Insights to check out our Chief Investment Office's research publications.

In this episode, our panel speakers will summarise the key takeaways from the Beyond 2025 conference.Jean Chia, Global Chief Investment Officer, Bank of Singapore.Eli Lee, Chief Investment Strategist, Bank of Singapore.Mansoor Mohi-uddin, Chief Economist, Bank of Singapore.Dr Owi Ruivivar, Chief Portfolio Strategist, Bank of Singapore.

Speaker: Robin Hu, Asia Chair, Milken Institute; Advisor Senior Director, TemasekModerated by: Dr Owi Ruivivar, Chief Portfolio Strategist, Bank of SingaporeAround 80% of China’s oil imports and trade routes with Europe, Middle East, and Africa traverse the Indian Ocean. Through its Maritime Silk Road, China has invested in ports in Pakistan, Sri Lanka, Eastern Africa, and Myanmar, along with a naval base in Djibouti. Access to emerging markets is critical to China’s transformative economic strategy and reduce its reliance on U.S. and Europe for demand. As the Indian Ocean becomes a focal point for trade and investment, American and Chinese military attention will also shift there.  Will the geopolitical centre of gravity shift that shifted from the Atlantic to the Pacific Ocean post-World War now move towards the Indian Ocean?Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.

Speaker: Elaine Wu, Vice President of Alibaba Cloud Intelligence International, Marketing and Strategic DevelopmentModerated by: Joseph Ng, Investment Strategist, Bank of SingaporeSince 2022, the rise of Artificial Intelligence (AI) has been a standout trend, with global core IT spending in this area projected to hit an estimated USD143 billion by 2027.  This extraordinary surge in interest and investment is unlocking possibilities across interconnected trends such as robotics and immersive reality. Beyond processors tailored for edge computing and Internet of Things devices, GenAI could create USD60 to 110 billion a year in economic value for the pharmaceutical and medical products industries ahead. What is the new frontier for AI opportunities in US and Asia?Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.

Speakers: Jean Chia, Global Chief Investment Officer, Bank of SingaporeEli Lee, Chief Investment Strategist, Bank of SingaporeAs we look to 2025, we see a world navigating profound changes with Trump 2.0, a catalyst for significant shifts in the global geopolitical and economic landscape. The new US administration will put renewed focus on America-first initiatives and stricter trade policies could result in headwinds for the rest of the world and trade-dependent countries.As we enter 2025, we are holding a broadly risk-on stance in our tactical asset allocation with an overall Overweight position in equities. We discuss the implications for our tactical asset allocation across equities, bonds, commodities, and private markets, as well as a refresh of the Bank of Singapore Supertrends.

Speaker: Vance Serchuk, Executive Director of the KKR Global InstituteModerated by: Mansoor Mohi-uddin, Chief Economist, Bank of SingaporeTrump 2.0 will have a huge impact on the US and the rest of the world over the next four years. Fresh tax cuts and less regulation may boost growth and spur US equities. But steep tariffs, tighter immigration and larger budget deficits are likely to raise inflation, stop the Federal Reserve cutting interest rates and cause the US dollar, Treasury yields and gold to surge. Stricter trade policies, less US commitments to overseas security and a stronger greenback will also challenge large exporting nations and emerging economies. At the same time, significant geopolitical shifts are driving governments to increase spending on defence, healthcare and energy, while also reshaping supply chains. What will investing look like in this new era of unpredictable US policies, geopolitical competition and heightened inflation risks? Note: The Bank is not responsible for the accuracy or completeness of the information provided by any external presenters which may change without prior notice. The external presenters may hold views which are not representative of the views of the Bank, and such views may have been derived without discussion, consultation or agreement with the Bank. You will need to decide as to whether or not the contents are suitable for you. When you are in doubt, please seek your own independent financial, legal, tax or other advice as you deem fit. Neither the Bank nor any of its officers accept any liability for any loss whatsoever arising out of or in connection with your use of the information in the presentation.

In the final episode of our 2024 podcast, Low Pei Han, Head of Equity Research, discusses the global equity outlook for 2025. Looking ahead, we maintain a positive stance on equities, with an Overweight position in both U.S. and Asia ex-Japan markets. The risk-reward scenario for U.S. equities has improved following the recent election outcome. A Trump presidency is expected to stimulate the U.S. economy and corporate earnings through tax cuts, deregulation, and increased spending. In the Asia ex-Japan region, we favour equities in countries such as China, Hong Kong, India, Indonesia, the Philippines, and Singapore. Investor attention is particularly focused on China, especially after its significant policy shift in September. To learn more, tune in to the latest episode of our podcast, "Outlook in Five."

On Tuesday, Trump announced on his social media that he would impose an additional 25% tariff on imports from Mexico and Canada and a 10% tariff from China starting from day one of his new term. During his campaign, he emphasised central policies focused on immigration, taxes, and tariffs. While some may believe that Latin America will fully align with the U.S. in a trade conflict between the U.S. and China, do you share that view? Tune in to the latest episode of our podcast to hear insights from our fixed-income research analyst, Miguel Angel Aguayo Negrete, as he discusses the challenges facing Latin America during the Trump 2.0 Era.

Last Thursday night, Federal Reserve Chairman Jerome Powell cautioned investors that the central bank does not need to reduce interest rates quickly. As interest rates approach neutral levels, the pace of cuts may need to slow down, as the Fed is uncertain about the long-term federal funds rate that will keep inflation aligned with its 2.00% target.  Powell's remarks support our view that the Fed will stop easing early when the federal funds rate nears 4.00%. To learn more, tune into the latest episode of our podcast featuring Chief Economist Mansoor Mohi-uddin.

The United States is just one day away from its presidential election. In our latest episode of Bank of Singapore Unplugged, our specialists take a deep dive into the macroeconomic implications of the various candidates. If there is a Red Sweep and Donald Trump becomes president, we can expect a higher level of tariffs. Consequently, markets are beginning to factor in the inflationary effects of these tariffs, which is reflected in the trends of 10-year US Treasury Yields and the strength of the US dollar. If there is a Blue Sweep and a Democratic victory, we may see potential changes in fiscal policy, such as an increase in the corporate tax rate. Given these scenarios, what near-term factors should investors consider regarding credit spreads in fixed income? Tune in to our latest episode featuring: Aleen Lee, Fixed Income Research Analyst Moderated by Joseph Ng, Investment Strategist

Globally, we are witnessing significant shifts that will influence the investment outlook for the upcoming year. The outcome of the US presidential election will have economic, geopolitical, and market implications. In September, the US Federal Reserve initiated a rate cut, surprising many with a larger-than-expected reduction of 50 basis points. The Fed's rate cut cycle has generally encouraged other global central banks to adopt more accommodative monetary policies, thereby improving global economic and financial conditions. In Asia, Japan is preparing for a change in leadership following its general elections in October, while the economy is undergoing transformations amid corporate reforms. Overall, the political and macroeconomic policy shifts happening worldwide are supportive of risk assets and are contributing to a broader equity rally on a global scale. Tune in to the latest episode of our podcast for more insights by Jean Chia, Global Chief Investment Officer at Bank of Singapore.

In this podcast episode, our Chief Investment Strategist, Eli Lee, discusses the recent unveiling of four key policies during last Saturday's briefing at China's Ministry of Finance.  The policies focus on supporting local government, state banks, the property sector, and specific demographic segments. While these steps are important, failing to meet unrealistic investor expectations of a large fiscal headline figure could lead to near-term volatility.  Minister of Finance Lan Fo’an provided important forward guidance in terms of increased central government debt issuance and deficit spending. This is unusual and signals Beijing’s mandate to forcefully turn around the property market and the economy. Tune in to our latest episode for more insights into the policy announcement.

Our latest podcast episode will explain what sukuk are and how they differ from conventional bonds. Sukuk are financial certificates structured to comply with Islamic (or Shariah) Law. Sukuk represented about 29% of the broader Islamic finance industry, valued at USD 3.3 trillion in 2023. The sukuk market is expected to continue to grow in the near-to-medium term, with year-to-date issuance figures suggesting it will surpass USD 1 trillion by the end of 2025. Tune in to our latest episode with David Makoni, Senior Fixed Income Research Analyst, as he shares the bank’s insights into sukuk as a growing asset class and portfolio diversifier.

In our latest podcast episode, we will be discussing some of the key challenges and opportunities associated with Indonesia’s carbon transition path. With a target to achieve net zero carbon emissions by 2060, energy transition is a key policy agenda of the Indonesian government and remains important in the longer term. However, as the country develops its renewable energy capacity and seeks cheaper financing sources to help with the gradual transition, the government also needs to ensure that clean energy generates economic benefits and replaces jobs lost in the fossil fuels sector, to avoid the downside risks to the social pillar of ESG. Tune in to our latest episode with Boh Hui Ling, Senior Fixed Income Research Analyst, as she shares more on the outlook ahead.

Singapore recently commemorated its 59th year of independence. At his inaugural National Day Rally as Prime Minister (PM), PM Lawrence Wong highlighted several significant long-term development projects, aimed at creating a more vibrant and inclusive society, ensuring the nation would be more well-equipped for the future.  This includes greater emphasis on upskilling, enhancements to the education system, more emphasis on family, and more recreation and sports facilities. These commitments would also lead to more investments in talent development for arts and sports, along with building new infrastructure and housing.  This “Forward Singapore” roadmap will require a major reset in policies, including keeping any regulatory burdens for companies to a minimum for businesses. Tune in to our latest episode with Carmen Lee, Bank of Singapore’s senior Singapore investment strategist, as she shares more on the outlook ahead.

This discussion looks at the implications of transitioning from a unipolar to a multipolar world for investors. In their discussions, our panel of experts examine the characteristics of this permacrisis and identify key factors driving the new balance of power. The conversation also focuses on how investors can adapt their strategies to seize new opportunities and manage risks in this changing landscape. Speakers: Adam Posen, President, Peterson Institute for International Economics Belinda Boa, Head of APAC Active Investments and Chief Investment Officer of Emerging Markets, BlackRock Fabiana Fedeli, Chief Investment Officer, Equities, Multi-Asset and Sustainability, M&G Investments Kenneth A. Caplan, Global Co-Chief Investment Officer, Blackstone Paula Campbell Roberts, Chief Investment Strategist for Global Wealth, KKR Robin Hu, Asia Chair, Milken Institute and Advisor Senior Director, Temasek Stewart James, Co-Head, Office of Government Affairs APAC, Goldman Sachs Yuichi Murao, Chief Investment Officer, Nomura Asset Management Moderated by Jean Chia, Global Chief Investment Officer, Bank of Singapore

The rapid-fire succession of crises and conflicts these past few years feels unprecedented. Is the world on the brink of a new order, and if so, how can we create progress from disruption? In this session, Adam Posen, President, Peterson Institute for International Economics and our Chief Economist, Mansoor Mohi-uddin explore the emerging new order, what it means to confront a future where competition for vital resources will intensify, and the implications for global power dynamics and the economy.

Our Global Chief Investment Officer Jean Chia, Chief Economist, Mansoor Mohi-uddin and Chief Investment Strategist, Eli Lee offer a fascinating analysis of the megatrends that are unfolding today – from pivotal elections and changes in the balance of power to allocating capital in the face of climate change and AI – providing unique insight and strategies for investors to navigate a world in flux.

How can we power the future of AI without sacrificing the environment? In this session, Mark Carney, Chair and Head of Transition Investing, Brookfield Asset Management speaks with our  Chief Investment Strategist, Eli Lee, to explore the potential clash between the promise of AI and the critical need for a sustainable future, delving into what this polarity means, the potential for political division on regulations impacting AI technology, as well as investment opportunities that can reconcile AI development with the green agenda.