How's the US market sentiment?

Let's take a look at the global fund manager survey and look at the market sentiment.

60% of the fund managers expected a bear market in 2022.

51% of the fund managers are expecting the inflation to be permanent now.

62% of the fund managers are expecting stagflation to occur.

Citigroup had revised down global earnings in Feb 2022.

In view of all these charts, we can see that the finance professionals are getting bearish of the outlook in 2022.

New York manufacturing index had plunged significantly in February 2022.

The NY manufacturing index had suffered a significant plunge (-11.8) in Feb 2022 which meant that consumer demand had declined because of the elevated inflation.  This also meant that frontloading by consumers had stalled.  This will definitely affect the next PMI reading.

Fortress Minerals - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/18/21	Phillip	Fortress Minerals	0.31	0.47	Buy	PER11x FY21
04/26/21	Phillip	Fortress Minerals	0.445	0.64	Buy	PER11x FY22
07/16/21	Phillip	Fortress Minerals	0.68	0.81	Buy	PER10x FY22
10/15/21	Phillip	Fortress Minerals	0.465	0.51	Accumulate
01/19/22	Phillip	Fortress Minerals	0.44	0.5	Accumulate	PER10x FY22
03/07/22	Amfrasers	Fortress Minerals	0.505	0.6	Buy

Food Empire - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/14/21	UOB Kay Hian	Food Empire	0.75	0.88	Buy	PER12.3x FY21
01/18/21	UOB Kay Hian	Food Empire	0.75	0.95	Buy
02/08/21	DMG & Partners	Food Empire	0.875	1.27	Buy
02/09/21	UOB Kay Hian	Food Empire	0.955	1.3	Buy
03/02/21	DMG & Partners	Food Empire	0.915	1.27	Buy
03/04/21	Lim & Tan	Food Empire	0.905	0	Accumulate on weakness
05/14/21	UOB Kay Hian	Food Empire	0.86	1.3	Buy
05/17/21	DMG & Partners	Food Empire	0.84	1.27	Buy
06/07/21	UOB Kay Hian	Food Empire	0.915	1.3	Buy
06/23/21	Lim & Tan	Food Empire	0.89	1.2	Accumulate
07/07/21	DMG & Partners	Food Empire	0.88	1.27	Buy
08/17/21	DMG & Partners	Food Empire	0.81	1.23	Buy	PER15x FY22
09/02/21	UOB Kay Hian	Food Empire	0.78	1.3	Buy
09/27/21	Lim & Tan	Food Empire	0.76	1.26	Accumulate
10/05/21	DMG & Partners	Food Empire	0.77	1.23	Buy	PER15x FY22
11/10/21	Lim & Tan	Food Empire	0.81	1.26	Accumulate
11/15/21	UOB Kay Hian	Food Empire	0.79	1.3	Buy	PER16.6x FY22
01/10/22	DMG & Partners	Food Empire	0.765	1.01	Buy
02/28/22	DMG & Partners	Food Empire	0.58	0.93	Buy

First Sponsor - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/18/21	Phillip	First Sponsor	1.33	1.56	Buy	Sum of parts (20% discount)
04/29/21	Phillip	First Sponsor	1.39	1.55	Accumulate	Sum of parts (20% discount)
08/04/21	Phillip	First Sponsor	1.36	1.56	Accumulate	Sum of parts (20% discount)
09/21/21	Phillip	First Sponsor	1.36	1.65	Buy	RNAV (30% discount)
02/25/22	Phillip	First Sponsor	1.35	1.39	Hold	Sum of parts

Stock calls for 16 March 2022

Date	Analyst	Company	Last	Target	Call	Valuation
03/16/22	Soochow	Cordlife	0.37	0.47	Buy
03/16/22	UOB Kay Hian	First Resources	2.1	2.1	Buy
03/16/22	Lim & Tan	Sembcorp Marine	0.086	0.091	Buy
03/16/22	Kim Eng	Singtel	2.53	2.98	Buy	Sum of parts
03/16/22	Lim & Tan	ST Engineering	4.02	4.43	Buy
03/16/22	UOB Kay Hian	Trans-China Auto	0.235	0.31	Buy	PER6x FY22