🦎 IGGY MORNING BRIEF, 6 July 2026

SGX opens 9 AM SGT. What I am watching before the bell.

OVERNIGHT US SUMMARY

US markets were closed Friday for Independence Day. Last session Thursday saw Dow at a record high, S&P 500 flat, Nasdaq weaker on chip names. June private payrolls came in soft at 98,000. That keeps rate cut talk alive. For SGX income names, this is mixed. Lower rates help funding, but Fed direction is still uncertain. No change to yield discipline off one data point.

SGX PRE-OPEN PULSE

STI closed Friday at 5,244.3, up 27.14 points, a fresh record. Brent around 72, USD/SGD ~1.29, both stable. Setup is constructive, but a record index after a holiday-thinned week is not a signal to chase.

THREE STOCKS ON RADAR

Z74 SingTel, +0.22% to 4.47

Yield just above 4%, but part of distribution comes from asset recycling rather than operations. That remains the key watchpoint.

C38U CapitaLand Integrated Commercial Trust, +0.42% to 2.40

Flagged for caution with at least one metric outside my range. Latest figures not refreshed yet, so treating this as price action only.

A17U CapitaLand Ascendas REIT, +0.40% to 2.49

Also flagged for caution. Minor move, no change to underlying view.

GAME PLAN

Focus is whether STI can hold a record once full volume returns post-US holiday. Also watching Sembcorp after Friday’s downgrade. Key question is whether weakness stays contained or spreads across utilities and energy.

No change in framework. If record highs start pulling money into stretched names, that is where I slow down, not speed up.

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