Stock calls for 15 June 2022

Date	Analyst	Company	Last	Target	Call	Valuation
06/15/22	CIMB	Comfortdelgro	1.39	1.8	Add	PER16.8x CY23
06/15/22	UOB Kay Hian	CSE Global	0.455	0.44	Hold	PER13x FY22
06/15/22	DBS Vickers	Far East Orchard	1.09	1.7	Buy
06/15/22	CIMB	ISDN	0.525	0.7	Add	PER10.1x FY23
06/15/22	CIMB	Keppel Corp	6.69	7.2	Add
06/15/22	CIMB	Netlink	0.995	1.1	Add
06/15/22	DBS Vickers	UOL	7.2	8.4	Buy

Is the US FED going to hike its Fed rate by 50bp or 75bp in June 2022? - Part 3

The Fedwatch tool is indicating that the US FED will hike its rate by at least 75bp and a small probability of a 100bp hike.  What a change of event!

Don Agro - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/23/21	Amfrasers	Don Agro	0.39	0.64	Buy	DCF

Digicore Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/07/21	UOB Kay Hian	Digicore Reit	1.01	1.18	Buy	DDM
01/14/22	DBS Vickers	Digicore Reit	1.18	1.4	Buy	DCF
02/14/22	UOB Kay Hian	Digicore Reit	1.16	1.32	Buy	DDM
04/22/22	DBS Vickers	Digicore Reit	0.985	1.3	Buy	DCF
04/22/22	UOB Kay Hian	Digicore Reit	0.985	1.1	Hold	DDM
06/03/22	DBS Vickers	Digicore Reit	0.97	1.3	Buy

Delfi - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/11/21	DBS Vickers	Delfi	0.845	0.96	Buy	PER18x FY21
08/17/21	DBS Vickers	Delfi	0.845	1.06	Buy	PER18x FY21/22
09/13/21	CIMB	Delfi	0.775	1.02	Add	PER20x FY22
10/27/21	CIMB	Delfi	0.745	1.02	Add
11/17/21	CIMB	Delfi	0.745	1.02	Add
11/17/21	DBS Vickers	Delfi	0.745	1.07	Buy	PER18x FY22
11/18/21	Lim & Tan	Delfi	0.755	0	Accumulate
02/23/22	DBS Vickers	Delfi	0.75	1.07	Buy
02/24/22	CIMB	Delfi	0.785	1.09	Add
02/24/22	DBS Vickers	Delfi	0.785	1.1	Buy	PER18x FY22
04/12/22	CIMB	Delfi	0.79	1.09	Add
05/20/22	CIMB	Delfi	0.745	1.09	Add

Stock calls for 14 June 2022

Date	Analyst	Company	Last	Target	Call	Valuation
06/14/22	DBS Vickers	ARA Hospitality	0.485	0.7	Buy
06/14/22	DBS Vickers	ART	1.16	1.4	Buy
06/14/22	DBS Vickers	Cromwell EUR	1.97	2.6	Buy	DCF
06/14/22	Lim & Tan	Frasers Hospitality Trust	0.69	0.7	Accept Offer	Offer @ $0.70
06/14/22	Lim & Tan	Frasers Logistics	1.33	1.58	Accumulate
06/14/22	CIMB	Frasers Property	1.08	1.41	Add
06/14/22	CIMB	Sembcorp Marine	0.114	0.09	Hold
06/14/22	UOB Kay Hian	SGX	9.58	9.55	Hold	PER23.7x FY22
06/14/22	DMG & Partners	SGX	9.58	10.4	Neutral
06/14/22	CIMB	SIA	5.18	5.75	Hold	PB0.95x FY23

Is the US FED going to hike its Fed rate by 50bp or 75bp in June 2022? - Part 2

Something had just happened and the Fedwatch tool had indicated a 99.4% probability of a 75bp rate hike compared to our previous screenshot below.

http://sg-stock.blogspot.com/2022/06/is-us-fed-going-to-hike-its-fed-rate-by.html

https://www.cnbc.com/2022/06/13/fed-reportedly-may-hike-rates-by-three-quarters-of-a-point-this-week.html

As we are not privy to any insider information for the FED meeting and the abrupt change in the Fedwatch tool, we will stick to our 3 FED rates analysis and forecast a 50bp rate hike.

Is the US FED going to hike its Fed rate by 50bp or 75bp in June 2022?

Let's do our standard analysis to forecast the upcoming rate hike.

The Fedwatch tool is showing a 71.6% probability of a 50bp rate hike and a 28.4% probability of a 75bp rate hike for June.

Let's use the 3 FED rates analysis to determine the rate hike.

IORB: 0.9% vs 0.4% in May

Although the IORB (0.9%) is still within the current fed rate range of 0.75-1%, it has jumped by more than 2x in May compared to the last fed meeting.

EFFR: 0.83% vs 0.33% in May

Although the EFFR (0.83%) is still within the current fed rate range of 0.75-1%, it has jumped by more than 2x in May compared to the last fed meeting.

On RRP: 0.8% vs 0.3% in May (Fed is paying.)

On RP: No transaction at 1% vs 0.5% in March. (Fed is receiving.)

EFFR: 0.83%

IORB: 0.9%

When the EFFR (0.83%) is lesser than IORB (0.9%), it means that the US is still under the monetary easing condition.  The high cash of US$2.16T deposited with the US FED also shows that there is excess liquidity and the banks have nowhere to invest in other profitable investments.  Thus, we do not see any stress in the US financial system and the US FED will hike 50bp in June 2022 as stated because the Fed rates have increased by more than 2x since the last meeting.

Del Monte - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/25/21	phillip	Del Monte	0.38	0.6	Buy	PER13x FY22
03/15/22	phillip	Del Monte	0.355	0.63	Buy	PER12x FY22, up from $0.62