With 2 more months to go till the end of 2023, Oct and Q4 are turning out to be a slow crawl. As I have basically achieved my 2023 targets and making plans for 2024, I have allowed things to drift somewhat 😂 Markets have turned surprisingly negative in Oct, with ongoing wars in Israel & Ukraine, high 10y bond yields and less than spectacular quarterly company results. Traditionally Oct month tends to be "bad", so let's hope that things pick up better in the upcoming months ahead towards a Christmas rally and solid New year!
For the Oct month, I have basically collected some $$$ from bonds, reits and sold some ST Engineering. Doing some nimbling of S&P500 ETF VUSD.L and UOB (which have been unusually weak, with an okay Q3 results out). For USA markets which have run up 19% this July, and even with a current 10% market correction, still sits with a 8% gain YTD, it only makes sense to nimble a bit for long term investment. Market sentiments tend to swing wildly from optimism to pessimism, so there exists pockets of profit opportunities. Singapore markets are also not spared from these negativities, actually the correlation to negativism is pretty strong for our open economy. Looking into the latest UOB results, I seem to think their Q3 results was okay, with Citi integration ongoing and higher expanses now, but should contribute positively ahead. Maybe analysts expectations are much higher I guess. Let me know in the comments below, if u also share my thoughts on S&P500 and UOB 😎
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