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Yellen's hawkish speech gives banks a lift

STI jumps 24.11 points to 3,236.15, driven by large rebounds in the three banks; volume amounts to 1.7b units worth S$1.1b

MONDAY'S column highlighted the fact that the Straits Times Index's fortunes depend heavily on the banks and that movement in bank shares were in turn driven by interest rate expectations.

Also discussed was that instead of lower interest rates driving stocks higher, it was expectations...

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