Investors’ exposure to US markets down in June amidst recession concerns
The investor movement index for clients declined to 4.88 in June 2022.
Financial services firm, TD Ameritrade, said Singaporean investor exposure in the US was reduced anew, posting a 4.88 investor movement index (IMX) score in June 2022.
This is lower than the IMX, TD Ameritrade’s behaviour-based index, in May which recorded a score of 5.74.
These figures were attributed to global headwinds such as recession and rising cost concerns in the US.
“The 10-year U.S. Treasury yield spiked higher from 2.743% to 3.497% before easing back and settling at 3.134% to close out the period,” TD Ameritrade said.
According to TD Ameritrade CEO Greg Baker, there may be lower exposure to US markets but Singaporean investors “did not buy seven of the S&P sectors: Communication Services, Consumer Staples, Energy, Financials, Industrials, Information Technology, and Real Estate.”
The TD Ameritrade clients favoured Apple and Microsoft and were net buyers of the tech giants in June.