SPH - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/06/20	UOB Kay Hian	SPH	2.15	2.3	Hold	Sum of parts, Buy @ $2
01/14/20	UOB Kay Hian	SPH	2.18	2.22	Hold	Sum of parts, Buy @ $2
01/14/20	CIMB	SPH	2.18	2.11	Hold	Sum of parts
01/14/20	DBS Vickers	SPH	2.18	2.12	Hold
01/15/20	Lim & Tan	SPH	2.14	0	Hold
01/15/20	OCBC	SPH	2.14	2.28	Hold
03/06/20	UOB Kay Hian	SPH	1.88	2.22	Hold
03/09/20	UOB Kay Hian	SPH	1.89	2.25	Buy	Sum of parts
03/19/20	Lim & Tan	SPH	1.83	0	Hold
03/26/20	UOB Kay Hian	SPH	1.74	2.04	Buy
04/02/20	UOB Kay Hian	SPH	1.78	1.61	Hold	Sum of parts, Buy @ $1.40
04/08/20	CIMB	SPH	1.6	1.57	Hold	Sum of parts
04/08/20	Lim & Tan	SPH	1.6	0	Sell
04/08/20	DBS Vickers	SPH	1.6	1.56	Hold	Sum of parts
04/09/20	UOB Kay Hian	SPH	1.53	1.39	Hold	Sum of parts, Buy @ $1.20
04/28/20	UOB Kay Hian	SPH	1.49	1.5	Hold	Buy @ $1.3
05/21/20	UOB Kay Hian	SPH	1.5	1.52	Hold	Sum of parts, Buy @ $1.30
05/21/20	Lim & Tan	SPH	1.5	0	Hold
05/22/20	DBS Vickers	SPH	1.56	1.57	Hold
06/24/20	UOB Kay Hian	SPH	1.36	1.52	Hold	Buy @ $1.30
06/25/20	CIMB	SPH	1.33	1.57	Hold
07/15/20	UOB Kay Hian	SPH	1.25	1.41	Hold	Sum of parts, Buy @ $1.20
07/15/20	CIMB	SPH	1.25	1.35	Hold	Sum of parts (25% disc)
07/15/20	OCBC	SPH	1.25	1.35	Hold	PER15x
07/16/20	DBS Vickers	SPH	1.25	1.26	Hold	Sum of parts
08/19/20	Lim & Tan	SPH	1.11	0	Hold
08/24/20	UOB Kay Hian	SPH	1.08	1.22	Hold	Sum of parts, Buy @ $1
08/31/20	DBS Vickers	SPH	1.09	1.26	Hold
10/14/20	DBS Vickers	SPH	1.05	1.09	Hold	Sum of parts
10/14/20	CIMB	SPH	1.05	1.1	Hold	Sum of parts (30% disc)
10/14/20	Lim & Tan	SPH	1.05	0	Hold
10/15/20	UOB Kay Hian	SPH	1	1.12	Hold	Sum of parts, Buy @ $1
11/23/20	Lim & Tan	SPH	1.25	0	Hold
01/07/21	CIMB	SPH	1.13	1.1	Hold	Sum of parts
01/20/21	CIMB	SPH	1.21	1.31	Hold	Sum of parts
01/21/21	UOB Kay Hian	SPH	1.22	1.22	Hold	Buy @ $1.05

Soilbuild Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/24/20	DBS Vickers	Soilbuild Reit	0.52	0.55	Hold	DCF
01/28/20	OCBC	Soilbuild Reit	0.515	0.52	Hold
02/04/20	Amfrasers	Soilbuild Reit	0.5	0.55	Neutral
03/02/20	DBS Vickers	Soilbuild Reit	0.495	0.55	Hold
04/20/20	DBS Vickers	Soilbuild Reit	0.39	0.5	Buy	DCF
04/21/20	OCBC	Soilbuild Reit	0.4	0.38	Hold
05/27/20	Amfrasers	Soilbuild Reit	0.38	0.48	Neutral
07/09/20	DBS Vickers	Soilbuild Reit	0.41	0.5	Buy
09/02/20	DBS Vickers	Soilbuild Reit	0.455	0.5	Buy	DCF
10/16/20	Lim & Tan	Soilbuild Reit	0.485	0	Hold
10/20/20	Amfrasers	Soilbuild Reit	0.49	0.48	Neutral
12/15/20	Lim & Tan	Soilbuild Reit	0.535	0	Accept offer

Stock calls for 19 February 2021

Date	Analyst	Company	Last	Target	Call	Valuation
02/19/21	UOB Kay Hian	DBS	25.76	29.2	Hold	Buy @ $25.2
02/19/21	Phillip	Ix Biopharma	0.255	0.445	Buy	DCF
02/19/21	Kim Eng	Prime US Reit	0.83	1.1	Buy	DDM

The US is facing rising rates pressure in 2021.

The US risk-free rate (10y) has been trending up since the beginning of 2021.  This is within our expectation because of the recent declines in China's credit impulse as posted below.

http://sg-stock.blogspot.com/2021/02/chinas-monetary-tightening-will-impact.html

We had also predicted that the US would face inflation pressure in 2021.

http://sg-stock.blogspot.com/2021/01/the-us-inflation-is-coming-part-3.html

Furthermore, the US 1-year inflation expectation has been trending up (3.3% now) recently too.  The US FED has stated that its average inflation target is about 2%.

The rising rates pressure will definitely keep the US FED on edge because the US FED has to rein in its QE when the US inflation is beyond the FED's target.

Hot news! Sinovac vaccine works on UK and South African variants.

https://www.reuters.com/article/us-health-coronavirus-brazil/sinovac-vaccine-works-on-uk-south-african-variants-brazil-institute-idUSKBN2AH2H0

Brazil institute has just announced that the Sinovac vaccine is effective against the UK and South African variants.

This is a major blow to the US and UK vaccines because Brazil is well-known to be pro-US.

Vaccination conundrum?

https://www.channelnewsasia.com/news/singapore/covid-19-vaccine-72-year-old-man-cardiac-arrest-ttsh-moh-14228104

I don't know whether the covid vaccine will induce a heart attack or not but I do question the medical logic.

Here's my conundrum:

When you have a pre-existing illness and you get infected by covid and fall sick, the medical expert will say that your sickness is due to the covid virus and not your pre-existing illness.

When you have a pre-existing illness and you fall sick on the same day after getting a covid vaccination, the medical expert will say that your sickness is not due to your vaccination but due to your pre-existing illness.

I'm so confused! Sigh!