Masco

🦎 IGGY MORNING BRIEF, 11 AUGUST 2026

☕ Good morning, Iguanas. SGX opens at 9 am SGT. Genuinely good news morning for Singapore's numbers.

OVERNIGHT US SUMMARY

Wall Street drifted lower Monday. Dow -0.11% (53,975.98), S&P 500 -0.06% (7,753.11), Nasdaq -0.32% (26,605.36). Rising crude stirred inflation worry ahead of Wednesday's US CPI, with Strait of Hormuz closure still weighing. Intel's $15B offering added tech caution. VIX 15.46. Cautious pre-CPI pause, not a real signal.

SGX PRE-OPEN PULSE

USD/SGD 1.2806. Brent jumped ~5% to $87.54/bbl – biggest move in weeks, worth watching for household cost implications.

SINGAPORE NEWS ON IGGY'S RADAR

📈 MTI raises 2026 growth forecast to 4.5–5.5%, Q2 GDP revised up to 5.9% (from 5.7% advance). Export growth lifted to 14–16% on electronics-led H1 outperformance. Good headline numbers, constructive backdrop – but growth ≠ yield; balance sheets still matter.

🤖 Nvidia taps Wall Street for $500B AI funding commitment. Scale worth noting; AI capex story keeps growing, feeds back into tech-heavy sessions.

📋 MAS closes consultation on CIS Code amendments – faster approvals for retail fund products. Regulatory housekeeping, not actionable today.

IGGY'S GAME PLAN

Growth upgrade is today's story, and it's strong. But I won't let good macro loosen yield discipline – stronger economy doesn't change what I need from balance sheets or distributions. Brent's jump is my key watch into the week – real cost-of-living implications if it sticks. US CPI Wednesday is next big checkpoint.

Not financial advice. Iggy's Forensic Compliance Standards apply.

$UOB 5xLongSG261217(W9AW.SG)UOB is still one of my stronger positions, and I think the banking sector remains quite solid for now. Singapore’s economy is still growing firmly, while MAS expects the financial sector to continue expanding with support from strong credit growth.

For UOB specifically, the latest results showed a resilient core business. Net profit remained at around S$1.4 billion, fee income continued growing, and trading income was strong. Asset quality also stayed stable, with the non-performing loan ratio unchanged at 1.5%.

Of course, lower interest rates can pressure net interest margins, which is one risk I’m watching. But UOB has been managing its funding costs, growing its wealth and wholesale banking businesses, and maintaining a strong capital position. That gives me more confidence that the bank is not depending only on interest income.

This is a leveraged DLC, so I know the movement can be much sharper in both directions. I won’t assume it will keep going up without any pullback. But as long as the banking sector stays healthy, credit quality remains stable, and UOB continues delivering steady earnings, I’m comfortable holding and letting the trend play out. @Captain's Treasure

🦎 IGGY MIDDAY BRIEF, 17 JULY 2026

A quick update mid-session, as of around 11:40am SGT, prices still 

moving, this is not a closing report.

All three local banks are trading lower today, extending Wednesday's 

pullback for DBS and UOB. UOB is the sharpest mover, down about 2.3 

percent as I write this, after dipping nearly 4 percent at its lowest 

point this morning before recovering some ground. DBS is off a more 

modest 0.5 percent. OCBC, which actually held flat on Wednesday, is 

now down about 0.8 percent, so today looks like where its own pullback 

is happening.

I looked for a specific reason behind this, any filing, analyst call, 

or MAS announcement, and found nothing dated to today or yesterday. 

The more useful context is what came before it, all three banks ran 

hard into record highs last week, DBS up over 5 percent and UOB nearly 

4 percent in just four sessions. A pullback after a run like that isn't 

unusual on its own.

Holding UOB at group level per my own tracking, no granular read until 

the 7 August earnings update. Will confirm the actual closing numbers 

this evening.

Not financial advice. Iggy's Forensic Compliance Standards apply.

OCBC $OCBC Bank(O39.SG)delivered a solid Q1 2026 result, with profit up 5% YoY to S$1.97B, supported by strong wealth management and non-interest income.

Feels like the bigger story now is funds continuing to flow into Singapore amid Middle East uncertainties. With AI, infra and regional expansion themes building up, local banks could continue benefiting from deposits, financing, FX and wealth activities.

MAS initiatives like EMDP may also gradually improve participation and liquidity in SG equities over time.

Keeping SG bank and manufacturing sector counters on watch.

Berkshire just doesn't feel the same after the legendary Warren Buffet retired. Without the old captain at the helm, there is nothing noteworthy of this entity, except it's sitting on a humongous pile of cash waiting to be deployed. The magic of the annual letter and AGM with the guru is gone, would anyone still go attend?

This week marks a turning point as Jerome Powell will hold his final Fed press conference. I am waiting to listen to his speech and understand his view before taking my trading position . We may see new Fed Kevin Warsh appear at Wednesday's meeting. His appearance and his comment will add value to investors.

I hope Powell stays on the Fed board after his term ends on May 15. His experience would be a great asset to help the new Fed navigate today's tough economic environment.

Powell stepping down at May, the future remain fairly unpredictable yet the indexes are testing new high, stay alert and have some cash bullet ready.

The helium shortage is causing a rally in memory and semicon space. This is one of the winner if the straits or hormuz remains closed. Get ready for more rally coming right up. Tailwind 100%

Inflation is going to start creeping in and rate hike is back in the book. The market is clearly overconfident and things will break soon. How can oil and equities rally at the same time?