Updates on recent economic indicators. - Part 2

The US CPI has slowed in July but it is still at an elevated high (8.5%).

CPI breakdown:

We can see that the main CPI factors are energy and food which are daily necessities for the americans. 

The PPI has also declined to 9.8% which is in line with the CPI.

The declines in CPI and PPI are not surprising because demand destruction has already happened.  Thus, these declines have boosted the US consumer sentiment because the consumers are expecting the US FED to rein in its rate hikes.

However, the treasury curve inversion is getting worse because investors are feeling gloomy about the long-term outlook.  The long-term chart below was showing that recessions always occurred whenever curve inversions happened.

Baltic dry index - 1477

Related stock: Sembcorp Marine, Cosco & Pan ocean.

US rig count (weekly) - 763

 
Related stock: Sembcorp Marine & Cosco.

ST Engineering - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
07/05/21	CIMB	ST Engineering	3.85	4.41	Add
07/06/21	UOB Kay Hian	ST Engineering	3.9	4.26	Buy	EV/Invested capital basis
08/05/21	Citi Research	ST Engineering	4.01	3.56	Sell
08/05/21	DBS Vickers	ST Engineering	4.01	4.2	Buy	Sum of parts
08/13/21	Citi Research	ST Engineering	4.08	3.68	Sell
08/13/21	OCBC	ST Engineering	4.08	4.4	Buy
08/16/21	DBS Vickers	ST Engineering	4.09	4.36	Buy	Sum of parts
08/17/21	DMG & Partners	ST Engineering	4.03	4.5	Buy
08/17/21	UOB Kay Hian	ST Engineering	4.03	4.25	Hold
09/10/21	DMG & Partners	ST Engineering	3.77	4.5	Buy
09/14/21	UOB Kay Hian	ST Engineering	3.76	4.25	Buy	EV/Invested capital basis
10/04/21	CIMB	ST Engineering	3.78	4.54	Add
10/04/21	DBS Vickers	ST Engineering	3.78	4.55	Buy	Sum of parts
10/04/21	Lim & Tan	ST Engineering	3.78	0	Hold
10/04/21	OCBC	ST Engineering	3.78	4.3	Buy
10/05/21	Citi Research	ST Engineering	3.88	3.65	Sell	PER20x FY22
10/05/21	DMG & Partners	ST Engineering	3.88	4.85	Buy
10/05/21	UOB Kay Hian	ST Engineering	3.88	4.05	Buy
11/10/21	DBS Vickers	ST Engineering	3.81	4.55	Buy
11/11/21	CIMB	ST Engineering	3.84	4.54	Add	DCF
11/19/21	DBS Vickers	ST Engineering	3.98	4.6	Buy	Sum of parts
11/29/21	DMG & Partners	ST Engineering	3.85	4.85	Buy
12/13/21	UOB Kay Hian	ST Engineering	3.78	4.05	Buy
02/28/22	CIMB	ST Engineering	3.77	4.7	Add
02/28/22	Lim & Tan	ST Engineering	3.77	4.38	Accumulate
03/02/22	DBS Vickers	ST Engineering	3.95	4.7	Buy
03/02/22	DMG & Partners	ST Engineering	3.95	4.8	Buy
03/16/22	Lim & Tan	ST Engineering	4.02	4.43	Buy
03/24/22	Lim & Tan	ST Engineering	4.11	4.41	Accumulate
05/23/22	DMG & Partners	ST Engineering	4.09	4.8	Buy
05/31/22	Kim Eng	ST Engineering	4.06	4.75	Buy	DCF
06/01/22	DMG & Partners	ST Engineering	4.11	4.8	Buy	Sum of parts
06/06/22	UOB Kay Hian	ST Engineering	4.13	4.6	Buy	DCF, PER23.5x FY23
07/26/22	DMG & Partners	ST Engineering	4.1	4.8	Buy
08/03/22	CIMB	ST Engineering	4.08	4.58	Add

Spindex - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/25/21	Lim & Tan	Spindex	1.2	0	Accumulate
10/15/21	Lim & Tan	Spindex	1.3	0	Buy
12/02/21	Lim & Tan	Spindex	1.18	1.45	Buy
02/14/22	Lim & Tan	Spindex	1.31	0	Accumulate