Welcome back to Retire Rich Weekly!

Buckle up, because this week’s financial markets were a wild ride. We’ll be diving into the recent tech sector correction, the state of the cryptocurrency market, and some strategies to navigate these volatile times.

Tech Takes a Hit: A Reality Check, Not a Surprise

Remember those cautionary notes I mentioned last month? Well, this week serves as a reminder – nothing goes up forever. The tech sector took a significant tumble, dragging down the S&P 500 and Nasdaq 100 for their worst weekly performance in months.

Several factors contributed to this correction:

  • Fed’s Hawkish Stance: Investors were spooked by the Federal Reserve’s commitment to keeping interest rates high to combat inflation, which could potentially stifle future tech growth.
  • Geopolitical Tensions: Rising tensions in the Middle East raise concerns about oil prices, impacting the broader market.
  • Shifting Market Focus: Let’s not forget that money flows where opportunities lie. This correction could be a sign of investors shifting their focus to other sectors, like oil and gold which I have talked about in the last few months. And who knows, maybe China.

Crypto Market Feels the Chill: Hype Fades, Security Concerns Rise

Bitcoin’s recent “halving” event, where the number of new Bitcoins created is cut in half, didn’t deliver the expected surge in price. This is a classic example of “buy the rumor, sell the news,” where investors cash out after the hype subsides.

However, a more concerning development emerged: the CRV price crash. A hack on Curve Finance and the subsequent liquidation of a prominent founder’s position exposed potential security vulnerabilities in Decentralized Finance (DeFi) protocols. While I’m not a crypto expert, this incident does raise red flags about the future of DeFi.

REITs Symposium 2024: Unveiling Hidden Gems

Calling all real estate investors! Mark your calendars for the 10th Anniversary REITs Symposium happening on Saturday, May 11th, 2024, at the Suntec Convention Centre in Singapore. This premier event equips you with valuable insights and strategies for navigating the dynamic world of REITs (Real Estate Investment Trusts).

Special Discounts for our loyal readers.

Find out more information here.

Safe Havens in the Storm: T-Bills and Corporate Bonds

While the market fluctuates, some options offer stability. The recent 1-year T-bill auction saw yields climb back up to 3.58%, providing a secure option for risk-averse investors. The next T-bill auction (BS24108V) is scheduled for April 25th, 2024.

  • Announcement date: 18 Apr 2024
  • Auction date: 25 Apr 2024
  • Issue date: 30 Apr 2024
  • Maturity date: 29 Oct 2024
  • Total amount offered: S$6.6 billion
  • Minimum denomination: S$1,000
  • Method of sale: Uniform price auction
  • Competitive applications: Must be expressed as an annual yield, to 2 decimal places
    Non-competitive applications: Accepted at the cut-off yield of successful competitive applications, with pro-rated allotment if applications exceed 40% of the amount offered

Find more information on the MAS website.

Looking for potentially higher yields with reasonable risk? Consider Great Eastern’s new bond issuance. However, remember that this option requires a minimum investment of S$50,000 and accredited investor status.

Stay Informed, Stay Diversified

Market volatility is a fact of life. By staying informed, making well-considered decisions, and diversifying your portfolio, you can weather these storms and navigate towards your retirement goals.

If you are feeling lost, don’t worry, you’re not alone! ​Join me for my FREE LIVE webinar this month: Master the Market where I will tackle these burning questions:

  • Rate Hikes: Are we in for a cut, or will they stay the course?
  • AI Stocks: Hype or Here to Stay?
  • US Market Rally: Can the momentum hold?
  • Emerging Markets Spotlight: Are Japan & India the next big opportunities?
  • China’s Economy: Boom or Bust?
  • What are the Future Risks & Opportunities in the near term?

I’ll keep you updated on any key developments next week!

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About the Author

Ivan Guan is the author of the popular book "FIRE Your Retirement". He is an independent financial adviser with more than a decade of knowledge and experience in providing financial advisory services to both individuals and businesses. He specializes in investment planning and portfolio management for early retirement. His blog provides practical financial tips, strategies and resources to help people achieve financial freedom. Follow his Telegram Channel to join the FIRE community.
The views and opinions expressed in this article are those of the author. This does not reflect the official position of any agency, organization, employer or company. Refer to full disclaimers here.

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