T-bill yield dives and stocks bounce with easing trade tensions: Weekly Market Recap

While having dinner at Lau Pa Sat after work this week, I bumped into an ex-colleague who sighed, “It’s getting harder to find decent yields these days.”

He’s not wrong. We’ve seen cuts in interest rates across the board this month from the best fixed deposits to top savings accounts. The latest 6-month Singapore T-bill also saw its cut-off yield dip to 2.05%, hovering just above the 2% mark.

So where can we park our cash while still earning some yield?

This week, we take a closer look at the Fullerton SGD Fund as a safer and liquid option for cash management.

We also explore income opportunities in the stock market, including Singtel, which raised its dividend payout in its latest results, and CapitaLand Ascendas REIT, which has just expanded its Singapore portfolio through a new acquisition.

Yes, interest rates are falling. But there are still ways to put your money to work if you know where to look.

We’ll be sharing more of these ideas on our YouTube channel, so do subscribe to stay updated.

Happy growing!

Gerald, Founder of Beansprout

⏰ This Week In Markets

🏛 More optimism on trade talks 

What happened? 

US President Donald Trump shared on social media that his phone call with China President Xi Jinping ended with “a very positive conclusion for both countries.”

This has raised hopes among investors that tensions between the US and China may start to ease.

What does this mean?

The more upbeat sentiment around trade tensions comes alongside signs that the US labour market remains resilient.

In May, the US economy added 139,000 jobs, a figure that topped market expectations, even though it marked a slowdown from the previous month.

Why should I care?

The S&P 500 briefly crossed the 6,000 mark for the first time since February 2025, lifted by easing trade tensions and better than expected employment data. 

In Singapore, equities recorded a second straight week of gains, buoyed by improving global sentiment. 

Property developers led the charge, with City Developments' share price bouncing after announcing the sale of its stake in the South Beach mixed-use development.

🚗  Moving This Week

• City Developments Ltd (CDL) has agreed to sell its 50.1 per cent stake in the South Beach mixed project to its Malaysian partner, IIOI Properties Group (IOIPG), for about S$834.2 million. CDL expects to see a gain on disposal of about S$465 million for the financial year ending Dec 31, 2025.
• OCBC has made a S$0.9 billion conditional exit offer at $30.15 per share for the 6.28 per cent stake in Great Eastern it does not own, in a bid to delist the insurer. Independent financial adviser (IFA) to the deal Ernst and Young said this offer is fair and reasonable. Read more here.
• Keppel DC REIT will replace Jardine Cycle & Carriage in the STI, following the latest quarterly review of Singapore's benchmark market index. Read more here.
• DFI Retail Group has divested its stake in Robinsons Retail Holdings of 315.31 million common shares, or about 22.2% of the company’s outstanding shares. Following this divestment, the group will review the use of the divestment proceeds to support its capital allocation strategy and long-term growth priorities. Read more here.
• Stoneweg European REIT announced that the REIT will be converted into a stapled group. Each unit of Stoneweg E-Reit will be stapled to a unit in Stoneweg European Business Trust. It will then form a stapled security in an entity known as Stoneweg Europe Stapled Trust. 

Source: Bloomberg, CNBC, Business Times, Edge Singapore

💡 The Big Important Story

Fullerton SGD Cash Fund: A safer and liquid option to park your cash?

Looking for a liquid and safer option to earn a yield on your cash savings? Discover how the Fullerton SGD Cash Fund offers competitive yields, daily liquidity, and stability for your idle cash, even in a volatile market.

🤓 What we're looking out for next week

• Wednesday, 11 June: US CPI data
• Friday, 13 June: University of Michigan consumer sentiment data 

Get the full list of stocks with upcoming dividends here. 

Source: SGX, Bloomberg, Refinitiv

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