Fed expected to lift rates in December amid mixed data: Fidelity analyst
THE Federal Reserve is likely to raise rates in December amid the mixed data on economic growth and wage inflation, a senior analyst at Fidelity Worldwide Investment said at a briefing on Wednesday.
"We think they can afford to wait," said David Buckle, head of quantitative research at Fidelity, noting that the central bank would not want to risk having higher rates "choke off the recovery".
He also pointed to the wide range of expectations from the Federal Open Market Committee (FOMC) on rates, which could also cause uncertainty around bond yields.
Fidelity expects to be among the top three fund managers in Singapore by 2018, and grow its assets under management (AUM) to US$10 billion, said Mike Nikou, managing director, South-east Asia, at Fidelity. He did not disclose the fund's current AUM in Singapore.
Fidelity is now ranked fifth by market share in Singapore.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Xi tells Blinken US, China should be 'partners, not rivals'
Indonesia’s push for regional economic integration to continue under Prabowo: Vivian Balakrishnan
Outgoing Singapore, Indonesia leaders to hold their final retreat in Bogor on Apr 29
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing