US economy is hit with a double whammy (low GDP growth and high inflation)!

US Q1 GDP: 1.6% (Lower than expected)

Let's break the GDP down to see what had happened.

GDP growth = G + I + C + NE (net export)

Q1 GDP = 0.21 + 0.56 + 1.68 + (-0.86) = 1.59 (1.6)

We can immediately see that there's significant declines in G, C and NE when compared with the previous Q4 below.

Q4 2023 GDP Growth (3.4) = 0.79 (G)+0.15 (I)+2.2 (C)+0.25 (NE) = 3.39(3.4)

While the US GDP growth was weakening in Q1 2024, the US inflation was rising significantly in the same period.  This means that the US Fed can't reduce its rates to boost its GDP growth.  There is a possibility now that the US is facing a stagflation situation which is very difficult to resolve.

City Developments - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/23	phillip	City Developments	7.97	8.86	Accumulate
01/06/23	DMG & Partners	City Developments	8.02	9.75	Buy
01/17/23	CIMB	City Developments	7.89	8.97	Add	RNAV
02/23/23	DBS Vickers	City Developments	7.95	10.5	Buy	RNAV (35% discount)
02/24/23	UOB Kay Hian	City Developments	7.84	9.7	Buy	RNAV (30% discount)
02/27/23	CIMB	City Developments	7.83	8.97	Add
02/27/23	Citi Research	City Developments	7.83	10.29	Buy
03/10/23	DBS Vickers	City Developments	7.38	10.5	Buy
03/16/23	CIMB	City Developments	7.08	8.97	Add	RNAV
03/29/23	Lim & Tan	City Developments	7.33	9.27	Accumulate
03/31/23	DMG & Partners	City Developments	7.37	9.75	Buy	RNAV (45% disc)
04/06/23	DMG & Partners	City Developments	7.35	9.75	Buy	RNAV (45% disc)
04/27/23	OCBC	City Developments	7.32	8.97	Buy
04/27/23	CLSA	City Developments	7.32	6.68	Sell	Cut from $9.86, RNAV (45% disc)
04/28/23	UOB Kay Hian	City Developments	6.91	8	Buy	RNAV (40% disc)
05/22/23	CIMB	City Developments	6.89	8.97	Add	RNAV
05/23/23	DBS Vickers	City Developments	6.84	10.5	Buy
05/23/23	Lim & Tan	City Developments	6.84	8.59	Accumulate
06/19/23	phillip	City Developments	7.14	8.33	Accumulate	RNAV (45% disc)
06/23/23	CIMB	City Developments	6.8	8.97	Add	RNAV
06/23/23	DMG & Partners	City Developments	6.8	8.8	Buy
07/04/23	DBS Vickers	City Developments	6.77	10.5	Buy
07/05/23	Lim & Tan	City Developments	6.77	8.43	Accumulate
08/01/23	OCBC	City Developments	7.39	8.91	Buy
08/10/23	DBS Vickers	City Developments	7.12	10.5	Buy
08/11/23	UOB Kay Hian	City Developments	6.99	8	Buy	RNAV (40% disc)
08/15/23	OCBC	City Developments	6.79	8.87	Buy	RNAV (25% disc)
08/16/23	phillip	City Developments	6.79	8.22	Buy	RNAV (45% disc)
08/30/23	DMG & Partners	City Developments	6.7	8.2	Buy	RNAV (45% disc)
09/29/23	DBS Vickers	City Developments	6.55	10.5	Buy
09/29/23	CIMB	City Developments	6.55	8.97	Add	RNAV
11/24/23	DBS Vickers	City Developments	6.21	10.5	Buy
11/24/23	Citi Research	City Developments	6.21	10.45	Buy
11/24/23	CIMB	City Developments	6.21	8.97	Add	RNAV
11/24/23	Lim & Tan	City Developments	6.21	7.95	Accumulate
11/29/23	phillip	City Developments	6.1	8.22	Buy	RNAV (45% disc)
12/22/23	Lim & Tan	City Developments	6.41	8.07	Accumulate
12/22/23	JPM	City Developments	6.41	8.85	Overweight
01/15/24	DMG & Partners	City Developments	6.41	8.2	Buy
02/01/24	OCBC	City Developments	6.11	7.2	Buy
02/19/24	DMG & Partners	City Developments	6.08	8.2	Buy
02/28/24	DBS Vickers	City Developments	5.96	10.5	Buy
02/29/24	UOB Kay Hian	City Developments	5.78	8.2	Buy	RNAV (45% disc)
03/01/24	DMG & Partners	City Developments	5.67	8	Buy	RNAV (45% disc)
03/05/24	phillip	City Developments	5.62	6.87	Buy	RNAV (45% disc)
03/12/24	Citi Research	City Developments	5.93	9.51	Buy
03/12/24	JPM	City Developments	5.93	7.4	Overweight
03/26/24	Lim & Tan	City Developments	5.82	7.39	Accumulate
04/19/24	UOB Kay Hian	City Developments	5.69	8.2	Buy	RNAV (30% discount)