GST increases when there is global inflation. OK, OK we got vouchers. But as vouchers are given out on a household basis for many families the vouchers provide “peanuts” relief. It’s best for single households.
Then there is the property tax increase for owner occupiers. OK OK got relief for 2024 but in 2025?)
Then there are the ever increasing water bills.
Worse as experts like Chris Kuan point out there’s room to use more of our reserves.
So this the real reason why we kanna Pay And Pay?
Norwegians at work.
The fund is invested in about 9,000 companies worldwide, but seven US technology companies — Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla — account for about 12 per cent of its equity portfolio.
https://www.ft.com/content/58fe78bb-1077-4d32-b048-7d69f9d18809
I’m sure if GIC and Temasek held this %age , we’d never hear the end of it
Who is the warmonger? The Hegemon spends more on its military than the next 9 other big spenders. And Russia is fighting a war, albeit one it started.
Gold’s slightly off its recent record hights.
Chinese speculators super-charged the gold rally and the sell off. Huge bullish bets on Shanghai exchanges show the growing clout of Chinese and other Asian traders in the gold market gold.
Mao would be proud. Remember his “The Chinese people have stood up”?
| Highest net spending (2014-2023) | |
|---|---|
| 1. Manchester United – £1,196.6m | 11. Aston Villa – £414.3m |
| 2. Chelsea – £885.5m | 12. Liverpool – £395.3m |
| 3. Paris St-Germain – £865.8m | 13. Al-Hilal – £391.3m |
| 4. Arsenal – £746.9m | 14. Juventus – £385m |
| 5. Manchester City – £733.8m | 15. Everton – £336.1m |
| 6. Newcastle United – £575.2m | 16. Crystal Palace – £322.3m |
| 7. Barcelona – £568.4m | 17. Bournemouth – £294.9m |
| 8. Tottenham – £522.1m | 18. Bayern Munich – £294.1m |
| 9. AC Milan – £467.3m | 19. Real Madrid – £277.6m |
| 10. West Ham – £451.9m | 20. Nottingham Forest – £265.8m |
| Stats from CIES Football Observatory Monthly Report | |
Since 2014 the Premier League’s combined net spend is more than £9.5bn, the Chinese Super League is second with £1.14bn, and the Saudi Pro League is third with a net spend of about £1.13bn.
In comparison, the Portuguese Primeira Liga made a profit of about £1.9bn on player transfers in the same period.
The Singapore 10Y Government Bond has a 3.365% yield. 10 Years vs 2 Years bond spread is -9.2 bp. Yield Curve is inverted in Long-Term vs Short-Term Maturities. Central Bank Rate is 3.42% (last modification in April 2024).
Country DetailLast 6 month t -bill auction resulted in 3.75%
King Kong do, S’porean monkey follow.
Minister Shan should said pointed out that even Russia is outperforming the West whose flagship publication sneers at S’pore.
What do u think? From Bloomberg
Remember when SIA included trading aircraft profits as part of its “profits” on the ground that it was always doing it to modernises its fleet? MU is not a big sinner. Same parlk as ‘Pool amd Sity.
From: https://www.bbc.com/sport/football/68713522
Our SWFs especially Temasaek (as that Kay Poh S’porean living in Tokyo keeps reminding us) placed big chips on private equity. So it’s interesting that the FT reported that Princeton reports “a 1.7 per cent loss last year, a product mainly of private equity underperformance”.
Princeton University’s endowment, known for its aggressive bets on private equity, is facing the “worst ever environment” for the asset class as a slump in dealmaking and public listings weighs on returns, according to its outgoing chief investment officer.
Princeton endowment chief sees ‘worst ever’ private equity climate
They did S’pore proud by winning over the weekend FT Alphaville Pub Quiz in New York City.
I’ve been posting charts that show ‘Pool are efficient in turning money spent on players into results: Chelsea & MU: Cost benefit failures.
But a “poor” Italian club thrashed the Reds (and at Anfield) last week
The Atalanta manager [Gian Piero Gasperini] didn’t just mastermind Liverpool FC’s first defeat at Anfield in 14 months. The Italian side won by three goals to nil, in a display that left Jürgen Klopp flummoxed.
It’s all the more impressive considering Atalanta’s €119mn operating revenues, and €84mn wage bill in 2022-23 (with thanks to Swiss Ramble/Kieron O’Connor for deciphering the Italian accounts).
Liverpool’s revenues amounted to £594mn, while wages added up to £373mn.
FT’s Scoreboard
Customers from US supermarket store Costco buy from Costco 40,000 to 80,000 ounces of gold each month, half as much as the Chinese central bank.
China’s central bank added 160,000 ounces of gold, worth $384m, in March.
In August it became possible to buy hunks of the metal at Costco, an American superstore beloved by the cost-conscious middle classes for selling jumbo-size packs of toilet paper, fluffy athletic socks and rotisserie chickens, all at super-low prices. The retailer started selling single-ounce bars of gold, mostly online, for around $2,000—just a hair higher than the spot value of bullion at the time. It sold out almost immediately, and continues to do so whenever it restocks. Analysts at Wells Fargo, a bank, estimate that shoppers are buying $100m-200m worth of gold each month from the superstore, alongside their sheet cakes and detergent.
That would be 40,000 to 80,000 ounces of gold each month; or, in other words, up to half as much as the Chinese central bank.
https://www.economist.com/finance-and-economics/2024/04/11/what-chinas-central-bank-and-costco-shoppers-have-in-common
It’s the Pearl River Estuary
A trip to China appeals in part because Hong Kong remains an eye-wateringly expensive place to call home. Goods and services from hospitals to hotpots are more affordable on the other side of the Pearl River Delta. Hong Kongers are flocking to cheap and cheerful shopping destinations like wholesale retailer Sam’s Club. The Hong Kong government noted, opens new tab on Wednesday an increasing demand for less frivolous activities such as cross-border healthcare, too.
https://www.reuters.com/breakingviews/hong-kong-catches-tantalising-glimpse-future-2024-04-12/
The stock price of China Tianrui Group Cement plunged 99% in 15 minutes before Hong Kong’s stock market closed on April 9, slashing the Henan-based cement maker’s market value to only HK$141 million from HK$14.6 billion ($1.9 billion).
https://www.reuters.com/breakingviews/hong-kongs-latest-problem-is-99-nosedive-2024-04-10/
Further to MU shows winning trophies is irrelevant where I showed charts that showed MU was raking in the cash flow,
It can still rake in the cash.
And its a wimmin: US Treasury Secretary Janet Yellen.
Ms Yellen last visited Beijing only nine months ago. A restaurant where her team ate an informal dinner promptly advertised a “God of Money” menu in her honour, so that customers could order the same dishes she had enjoyed. Think of it as a bit of American support for China’s neglected services industry.
Economist: Daily Briefing
Grandpa Xi wasn’t impressed but the restaurant is still open.
Given their EPL League positions: MU (7th) and Chelsea (10th), their squads are overpaid trash. Bit like our millionaire PAP ministers?
Both teams are owned by financiers who specialise in using lots of debt. They know how to do cost benefit analysis of borrowing lots of money.
But they don’t do cost benefit analysis of players. They should recruit cost benefit analysts from Sity and ‘pool .
It takes all the running you can do, to keep in the same place
Lewis Carroll
Morgan Stanley’s US base gives it the numbers: the usual story.
Thoughts of a Cynical Investor 