The Business Times Podcasts S2E23: The Fed, the Yen and Singapore’s Surprise Tech Star
Dec 5, 2025
Charu Chanana, the Chief Investment Strategist at Saxo Bank, brings her expertise to the discussion of current market trends. She deciphers the mixed signals from the US economy and evaluates the anticipated Fed rate cut. The conversation shifts to Japan’s potential rate hike and its impact on the yen. Additionally, Charu highlights Ultra Green AI’s groundbreaking IPO, showcasing Singapore’s capability for innovative tech listings. Finally, she explores OCBC's impressive performance, attributing it to rising wealth income and strong valuations.
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US Jobs Slowdown Feels Like Normalization
- The US labour market is cooling but not collapsing, suggesting normalization rather than recession.
- Markets expect a 25bp Fed cut but will watch the committee's tone for signs of aggressive easing.
Fed May Offer An Insurance Cut, Not A New Cycle
- A likely Fed cut may be framed as an "insurance" move amid labour risks rather than the start of deep easing.
- The committee's messaging will determine market expectations for future rate cuts.
From Labor Shortage To Cautious Hiring
- The recent shift from tight labour markets reflects normalization after years of shortages and rapid wage gains.
- This change explains cautious hiring freezes without triggering panic for a major recession.