Thursday 15 December 2022

Finance Investment Movement 28

There's been not much movement on the investment front since I had been on holiday. Just prior to it, I made up my mind to apply for the HSBC Everyday Global Account and Revolution Card. After spending two days comparing with other offers by CIMB, SCB and OCBC, those were my picks for the following reasons. I was mainly attracted to the cashback promotions, no annual card fee and possibility of free overseas currency transfer, just in case for future needs. Initially I wanted to pick a credit card that could give good miles accrual but after going through many options, the idea was dropped. Let's see how this turns out in terms of the rebate ($400), cashback (1%) and additional interest rate (4.3%) earned in the next few months. It's 4 promotions in one bundle so I'm eagerly awaiting the final outcome.

After failing to bid for the previous Tbill, I went a little conservative at 3.82% for the latest one and it actually got settled at 4.4%! I got filled for $6000. Very lucky there as it seemed many people chose to sit out this round or were simply out of ammo. Either way, it strengthened my belief that rates should continue to rise as the Fed convenes for the next decision. So I'm going to try again the next round.

The fight for retail deposits continued unabated with more and better interest rates across the various banks. DBS finally gave in and raised its Fixed Deposit rates but still nowhere close to its competitors. It probably did this out of concern for the home loan payer whose plan was pegged to the FHR. Plus, among the local banks, it has the largest depositor base and ample SGD liquidity. As for me, I preferred to keep cash in the latest SCB esaver rate of 3.8% for fresh funds deposit.

Tip: Niwa No Uguisu Junmai Ginjo 60, subdued fruit with honeydew lingering, easy drinking

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