Iggy's Journal: A Rough Week On The Index, One Date That Actually Matters More

13 September 2026, PM

New podcast's up today wrapping the week that just ended, and I want to be upfront about the angle before you click through. The STI dropping 1.8% for the week isn't really a story about Singapore companies suddenly losing their footing. Friday closed with DBS at S$77, UOB at S$41.26, and OCBC at S$31.60, all three actually slightly higher on the day. 

The date that matters more than any single stock this week is the Fed meeting on 15 and 16 September. Not because Washington's decision is dramatic on its own, but because of where it can eventually land, SORA, and from there, every Singapore borrower and CPF or SRS portfolio holding a REIT with floating rate exposure. That's the thread worth pulling, not the loudest chart on your screen this week.

My Personal Take

Genuinely, weeks like this one are where I have to slow myself down the most. A 1.8% weekly drop with no clean catalyst is exactly the kind of setup where it's tempting to reach for a story, any story, just to make sense of the number. I'd rather sit with "I don't have a verified reason yet" than manufacture one that sounds confident and isn't. The Fed meeting midweek is the actual thing worth your attention, not because I'm predicting what they'll do, but because the transmission from that decision to your own financing costs here is real and slower to show up than people expect.

One other thing before I go. I'm heading to London for about ten days. Postings here will likely be a bit less frequent and land at more erratic hours than usual while I'm travelling. Nothing structural changing in how I track things, just wanted to flag it so nobody reads a quiet week as a quiet market.

📺 YouTube: https://youtu.be/UQ4Kc40zp1w

📩 Substack: https://investingiguana.com/p/the-sti-just-had-a-rough-week-heres