Cashflow Clinic

15/05/2026

📌 What Are Fixed Coupon Notes (FCNs)?

If you've been exploring ways to diversify your investment portfolio beyond the usual stocks, bonds, or funds, you might want to learn about Fixed Coupon Notes (FCNs).

🔍 How do FCNs work?

Fixed Coupon Notes are structured notes linked to equity that offer investors a guaranteed periodic coupon. They are suited for investors who have a stable or moderately optimistic view of the market, and they allow investors to tailor the risk-return balance of conventional assets to meet their specific financial goals.

FCNs involve investors and financial institutions agreeing on a basket of stocks, "knock-in" levels, "knock-out" levels, note term, and investment amount. Before the note matures or is "knocked out", it pays fixed coupons regularly — or converts into stocks under certain circumstances.

📊 Where do FCNs sit in your portfolio?

In the household asset allocation pyramid, FCNs fall under structured products within alternative investments. Compared to traditional asset types like deposits, bonds, stocks, and funds, FCNs are more complex — but they also offer higher expected returns. Think of them as a step up in sophistication and potential reward. itiger

✅ Benefits of FCNs

FCNs offer several attractive features for the right investor:

- Guaranteed periodic coupon payments
- Ability to customize risk-return balance
- Exposure to equity-linked returns

⚠️ Risks to Be Aware Of

Like any investment, FCNs come with risks you should understand before diving in:

- Risk of principal loss — your capital is not fully protected
- Liquidity risk — it may be difficult to exit before maturity
- Issuer credit risk — dependent on the financial health of the Note issuer

15/05/2026

The S&P 500 (SP500) has historically plunged an average of 16% within six months following the appointment of a new Federal Reserve chair, according to Alexander Altmann, Barclays Plc’s global head of equities tactical strategies.

With Kevin Warsh set to take over as chair in May, Altmann warned that markets should brace for fresh turbulence, noting that data since 1930 shows average drawdowns of 5%, 12%, and 16% over the one-, three-, and six-month periods after a new Fed chief takes the helm.

S&P 500 faces turbulence as Kevin Warsh takes over the Fed—Barclays warns of avg 16% six-month drawdowns.

02/05/2026

"A strong first-quarter earnings season, as well as hopes for easing tensions in the Middle East, have ultimately boosted stocks higher on the year. Although the major averages took a dip on the commencement of the U.S. war with Iran, all three indexes are now trading well above where they began 2026."

The S&P 500 rose to a fresh all-time intraday high on Friday, boosted by Apple shares, while oil prices fell as a new month of trading got underway.

15/04/2026

'Products known as accumulators – which make their holders continuously buy stocks at preset levels – and fixed-coupon notes that offer monthly returns are particularly popular."

Issuance of structured products linked to Hong Kong and Singapore equities has surged 80% this year Read more at The Business Times.

08/03/2026

"In a world shaken by persistent inflation, geopolitical instability and ongoing volatility in equity markets, high-net-worth investors in Singapore and beyond are rethinking their wealth strategies. The recent turbulence in global financial markets – along with higher-for-longer interest rates, tightening credit conditions and dislocations in commercial real estate – has highlighted the growing importance of income generation."

Why yield investing matters more than ever in today’s market turmoil Read more at The Business Times.

18/04/2025

https://www.barrons.com/articles/trump-powell-termination-fed-interest-rates-6d679dbd

President Donald Trump took aim at Federal Reserve Chair Jerome Powell on Thursday, writing in a Truth Social post that Powell is “too late and wrong” on interest rates and that his “termination can’t come soon enough.”

20/01/2025

https://www.straitstimes.com/business/cpf-board-closes-1-4-million-special-accounts-of-members-on-jan-19

"The savings in their SA have been transferred into their RA up to the cohort’s Full Retirement Sum (FRS), which is two times the Basic Retirement Sum (BRS), or $213,000 in 2025, said the CPF Board in a statement on Jan 19."

"The CPF Board said members who would like to continue earning the higher interest rate of 4 per cent a year can choose to move some of these OA savings into their RA up to the current year’s Enhanced Retirement Sum (ERS), which is $426,000 in 2025."

The savings in their SA have been transferred into their RA up to Full Retirement Sum. Read more at straitstimes.com.

17/01/2025

"Mr Lee was responding to a question during a media interview on Jan 13 on whether the Government’s efforts over the past years have addressed concerns over housing affordability."

"He outlined the Government’s approach to addressing such concerns in recent years – the authorities have ramped up the supply of public housing through its Build-To-Order (BTO) programme, while also implementing measures to cool demand. He called for more time to let these efforts take effect on the market."

It has to ensure there is no property bubble, whether in private or public housing, he said. Read more at straitstimes.com.

31/10/2024

"The most sought-after resale condos predominantly exist within District 19, encompassing Serangoon Garden, Hougang and Punggol, followed by District 18, which covers Tampines and Pasir Ris.

By market segment, the leading resale projects in the suburbs include Treasure at Tampines, The Minton, High Park Residences, The Tapestry, Kingsford Waterbay, and The Garden Residences.

In the city fringe, the pre-eminent projects are distributed across diverse locations, including Stirling Residences, Parc Esta, Jadescape, Sims Urban Oasis, Reflections at Keppel Bay, Eight Riversuites, Park Colonial, The Interlace, and Queens Peak.

In the prime segment, the most popular projects are Cuscaden Reserve, The Residences at W Singapore Sentosa Cove, D’Leedon, The Sail @ Marina Bay, One Draycott, One Shenton, and Icon. The first two projects saw more sales due to promotional activities run by the developers."

Despite the prevailing high interest rates and the multiple cooling measures, demand for resale homes has seen a revival. Read more at straitstimes.com.

31/10/2024

"Real estate market conditions vary according to many economic and regulatory factors, and this affects the financing of your loan. Given that the average loan tenure extends anywhere between 10 to 30 years, an agent who is not keen on staying for the long term will definitely NOT be able to advise you on your life-changing situations like refinancing."

https://www.redbrick.sg/blog/8-ways-to-spot-a-lousy-mortgage-broker/?fbclid=IwY2xjawGQWXBleHRuA2FlbQIxMAABHWlkde1fqfJWRNv5vW9N-OqhQQdZEpM49TpXsk3nCVBVUyeJAu1HhgeQqA_aem_UK7mVZ_Yf3A-NjwWE601UQ

Here are 8 ways to spot a mortgage broker who might get you into a sticky situation and what you should take note to avoid at all costs!

31/10/2024

https://www.channelnewsasia.com/watch/private-home-prices-decline-07-q3-analysts-still-expect-momentum-rest-year-4703076

Private property prices declined 0.7 per cent in the third quarter, reversing four quarters of growth. Analysts say this is as more people bought homes outside the central region where prices are lower, resulting in what appears to be an overall price drop in the market, even though the number of un...