Quotes from Barclays Capital:
-Singapore's IP is likely to remain weak in February given the Lunar New Year distortions, and it will be difficult to get a clear read on the health of the sector until March/April.
-Though we still expect the electronics sector to see some benefit from stronger US capex, the pass-through is likely to remain markedly weaker than in the past, given Singapore's role as a marginal producer in the Asian electronics supply chain.
-While our base case remains for the MAS to keep its policy of modest appreciation in the SGD NEER at the April MPS, we expect the SGD NEER to continue trading below the midpoint of the trading band (currently around 120bp below, on our estimates) in the months ahead.
