Rate Of ReturnSingapore’s three local banks are no longer trading at bargain valuations. DBS leads at around 2.4x P/B, followed by OCBC at 1.9x and UOB at 1.2x. With OCBC already trading above +2 standard deviations of its long-term valuation range, I believe much of the good news is priced in, making future upside increasingly dependent on earnings surprises.
☕️ [Task Coins Giveaway] Daily Market Talk — Alphabet's $200B Capex Bill Comes Due
The AI capex bill everyone was dreading finally landed. Alphabet beat on sales and grew Cloud 82%, but guided 2026 spending to a staggering $195-205B, swung to negative free cash flow, and fell about ...
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