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OCBC
26 days agoNews Editor

OCBC and Ant Group launch 24/7 tokenized deposit service

OCBC has partnered with Ant Group to roll out a 24/7 tokenized deposit service, according to Techub, citing Tech in Asia. The service will initially support near real-time fund settlement in Singapore dollars and U.S. dollars. The update points to an early rollout focused on round-the-clock availability and faster settlement for the two currencies named in the report. No additional launch details were disclosed in the source provided. The announcement centers on the collaboration itself, the always-on service model, and the initial support for SGD and USD settlement.

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OCBC and Ant Group launch 24/7 tokenized deposit service
Singapore
2 months agoNews Editor

Singapore records first local tokenized deposit payment with DBS, OCBC and UOB

DBS Bank, OCBC and UOB have completed a local tokenized deposit payment in Singapore dollars on Swift’s blockchain ledger, according to Odaily. The transaction marks the first interbank tokenized deposit deal completed among the three institutions. The banks had previously carried out cross-border transactions on Swift Ledger. With local interoperability now in place, corporate clients will be able to make tokenized payments across participating institutions. The update points to a new step in applying tokenized bank deposits to domestic payment flows in Singapore, based on the details provided in the brief. No additional transaction size or settlement timeline was disclosed in the source item.

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Singapore records first local tokenized deposit payment with DBS, OCBC and UOB
Gold
2 months agoNews Editor

Gold Holds Above $4,300 as 10-Year Treasury Yield Hits 5%; OCBC Lifts 2026 Target to $4,600

Gold remained above the $4,300 mark even as U.S. rate-hike expectations strengthened, the 10-year Treasury yield briefly touched 5%, and oil prices climbed to about $107 a barrel following renewed tensions in the Middle East. According to the report, the market is being pulled in two directions at once: higher yields, a firmer dollar, and rising energy costs are pressuring bullion in the short term, while geopolitical risk and structural demand continue to support it. OCBC has raised its gold outlook and now expects the metal to reach $4,600 per ounce by December 2026. Spot gold was quoted at $4,298.86 an ounce after falling more than 1% to a five-week low on Monday and stabilizing slightly on Tuesday. The report also pointed to inflation data, labor-market resilience, fiscal pressure, and rising corporate bond issuance tied to AI infrastructure as factors behind the move in long-end U.S. yields.

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Gold Holds Above $4,300 as 10-Year Treasury Yield Hits 5%; OCBC Lifts 2026 Target to $4,600
gold
2 months agoNews Editor

Gold Holds Near $4,300 Even as Rate Bets Surge and 10-Year Treasury Yield Hits 5%

Gold is showing unusual resilience even as several classic headwinds line up at once. Expectations for a Federal Reserve rate hike have climbed sharply, the U.S. 10-year Treasury yield briefly touched 5% for the first time since October 2023, and oil prices jumped to around $107 a barrel after renewed attacks on Saudi infrastructure linked to the Yemen Houthi movement, according to Xinhua. Brent crude was quoted at $106.96. Under normal conditions, that mix would weigh heavily on bullion. Higher yields raise the opportunity cost of holding non-interest-bearing assets, while a stronger dollar adds pressure. Yet spot gold has remained near $4,300 an ounce, down more than 3% from a late-August peak above $4,600 but still holding the $4,000 support zone. After falling more than 1% on Monday to a five-week low, spot gold was last at $4,298.86 on Tuesday. Markets are now focused not only on whether the Fed raises rates by 25 basis points, but on how long policy stays restrictive. CME FedWatch showed the probability of a hike this week at roughly 92% to 93%. At the same time, OCBC raised its gold forecast and now expects bullion to reach $4,600 an ounce by December 2026, citing a higher starting base, better investor participation, and ongoing structural demand.

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Gold Holds Near $4,300 Even as Rate Bets Surge and 10-Year Treasury Yield Hits 5%
Yen
2 months agoNews Editor

Yen Surges to Six-Month High, Threatens to Unwind Largest Carry Trade in 30 Years

The Japanese yen rallied to a six-month high against the U.S. dollar during Asian trading on Tuesday, breaking above the psychologically important 155 level and reaching 153.53, surpassing the level where the U.S. and Japan jointly intervened in late July to curb the yen's weakness. The advance was driven by expectations of accelerated rate hikes by the Bank of Japan and potential capital inflows into Japanese assets. Finance Minister Katsunobu Katayama said Japan will continue to coordinate with the U.S. to ensure market stability, keeping investors on alert for further intervention. OCBC's FX strategist Christopher Wong noted that markets are almost fully pricing in a 25-basis-point rate hike at next week's BOJ meeting, with comments from economic adviser Sanae Takaichi also shifting rate expectations. The yen has gained nearly 4% since September, triggering stop-losses and risks of unwinding yen-funded carry trades. Jefferies' data showed cross-border yen borrowing surged from 216 trillion yen in December 2021 to 360 trillion yen in March this year, making the current carry trade the largest in 30 years. Markets are now fully betting on a BOJ rate hike in September and discussing another increase within the year.

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Yen Surges to Six-Month High, Threatens to Unwind Largest Carry Trade in 30 Years