🦎 IGGY MORNING BRIEF, 5 AUGUST 2026

☕ Good morning, Iguanas. SGX opens at 9am SGT. Here’s what I’m watching before the bell.

OVERNIGHT US SUMMARY

Wall Street extended its rally Tuesday. Dow +1.71% to 54,085.88, S&P 500 +1.79% to 7,736.52, Nasdaq +2.59% to 26,584.99. Strong earnings drove the move, with Palantir up nearly 30%. Crude also fell sharply again after the US Treasury Secretary confirmed active diplomatic talks with Iranian representatives. VIX ticked up to 16.55 despite the rally. For SGX dividend counters, two straight days of falling oil prices matter more than the tech-led US gains, as lower fuel costs can ease pressure on energy-sensitive names.

SGX PRE-OPEN PULSE

STI closed Tuesday essentially flat at 5,612.2. USD/SGD is at 1.2822. Brent is at US$79.36 a barrel, down another 5.3%, and almost 10% lower across two sessions. That is the key number to watch into today’s open.

SINGAPORE NEWS ON IGGY’S RADAR

🏦 DBS appoints Jonathan Larsen to its boards

DBS has appointed Jonathan Larsen, former Chief Innovation Officer at Ping An Group, to the boards of DBS Group Holdings and DBS Bank, effective today. It is a governance and innovation update, not a earnings signal, but still worth noting for a bank of this size.

💵 Mapletree Logistics Trust prices US$400 million of perpetual securities at 3.5%

The proceeds will go to general corporate and working capital needs. This is mainly a funding cost datapoint, useful as a read on current borrowing conditions.

IGGY’S GAME PLAN

Cheaper oil for a second straight session is the more durable story than another mega-cap tech rally in the US. I’m not chasing Wall Street strength into today’s open; the yield hurdle doesn’t change because Palantir had a good quarter. DBS’s board update and MLT’s funding print are housekeeping items, not action signals. The main thing to watch is whether Brent keeps falling, because that has real read-through to household cost pressure this quarter.