STI remains supported by Q4 2016 growth spurt

FIRST we had "Reaganomics", then came the "Greenspan put", which was then followed by the "Bernanke put". Now, we have "Trumponomics" that is sometimes used interchangeably with the "Trump put" which means essentially the same thing as all its predecessors - official pronouncements about stimulus that prompt frenzied buying of Wall Street stocks.

The difference, of course, is that in the case of Trumponomics, there are still no details on what exactly would be done.

Whatever the case, the impact here was a five-point rise for the Straits Times Index to 3,122.34, notwithstanding a 14.14-point loss on Friday; the latter was perhaps due to players reacting to strong warnings from the US Federal Reserve that interest rates would have to be raised soon. In the federal funds futures market, the implied probability of a rate hike in two weeks is now 90 per cent.