Iggy's Journal: A Rough Week On The Index, One Date That Actually Matters More
13 September 2026, PM
Podcast Release
New podcast's up today wrapping the week that just ended, and I want to be upfront about the angle before you click through. The STI dropping 1.8% for the week isn't really a story about Singapore companies suddenly losing their footing. Friday closed with DBS at S$77, UOB at S$41.26, and OCBC at S$31.60, all three actually slightly higher on the day. My concern with a week like this one isn't the number itself, it's the gap between a visible price move and an explanation I can actually verify. Several of the week's biggest winners and losers still don't have a confirmed catalyst behind them, and that's worth sitting with before anyone builds a story around the chart.
The date that matters more than any single stock this week is the Fed meeting on 15 and 16 September. Not because Washington's decision is dramatic on its own, but because of where it can eventually land, SORA, and from there, every Singapore borrower and CPF or SRS portfolio holding a REIT with floating rate exposure. That's the thread worth pulling, not the loudest chart on your screen this week.
My Personal Take
Genuinely, weeks like this one are where I have to slow myself down the most. A 1.8% weekly drop with no clean catalyst is exactly the kind of setup where it's tempting to reach for a story, any story, just to make sense of the number. I'd rather sit with "I don't have a verified reason yet" than manufacture one that sounds confident and isn't. The Fed meeting midweek is the actual thing worth your attention, not because I'm predicting what they'll do, but because the transmission from that decision to your own financing costs here is real and slower to show up than people expect.
One other thing before I go. I'm heading to London for about ten days. Postings here will likely be a bit less frequent and land at more erratic hours than usual while I'm travelling. Nothing structural changing in how I track things, just wanted to flag it so nobody reads a quiet week as a quiet market.
📺 YouTube: https://youtu.be/UQ4Kc40zp1w
📩 Substack: https://investingiguana.com/p/the-sti-just-had-a-rough-week-heres
Not financial advice. Iggy's Forensic Compliance Standards apply.
Cheers, Iggy 🦖
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