Bought UOB

Bought 1500 shares of UOB at SGD 18.81 on Friday 11th Nov, total cost SGD 28,378.03.  Thats a TTM PE of 9.8 (or 12.5 if we exclude "Trading Income"), and a trailing yield of 3.7% (excluding their special "80th Anniversary" dividend).

Singapore banking stocks are quite cheap.  One reason is because of seven years of falling interest rates.  After Trump won and gained control over two houses, the market narrative is that US inflation and US interest rates will go up.  Bonds jumped on the news:

 As did banks:

So the market believes ZIRP is dead.  Lets see if it comes true.  The Singapore banks are cheap enough to buy anyway, even without that.