Singapore signals a peak for policy tightening

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Singapore signals a peak for policy tightening
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A look at the day ahead in European and global markets from Wayne Cole. Singapore's central bank sprang the surprise of the Asian day by halting its tightening cycle when markets had expected a sixth straight round of restraint. The Monetary Authority of Singapore (MAS) said there was enough currency appreciation - controlling the SGD is its primary policy tool...

A look at the day ahead in European and global markets from Wayne Cole.

It also sounded more downbeat on the economic outlook as GDP growth missed forecasts with a rise of just 0.1per cent. Supporting the dovish cause was the soft reading on March US producer prices, and retail sales later today will likely do the same. This divergence has seen the spread between US 10-year yields and German bunds shrink to its smallest in two years near 100 basis points.

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