10-year treasury yield is the on going story. I am no economist, so do not quite understand all these yield thingy. I remembered that not so long ago, there was a concern that the drop in the 10-year yield will cause it to be lower than the 2-year yield. Yet, now that it has risen, there is another concern again. Hmm, when will there not be a concern?
So I am just going to ignore all these, which are in any case beyond my control. I will just stick to what I normally do – buy when the price is sufficiently attractive. So last week, I decided to add a bit more Ascendas and Mapletree Industrial Reit since they are offering me about 5% yield. I also decided to take a small stake in Mapletree Logistics Trust again and hopefully I can stay with them longer this time round.
To fund the purchase, I trimmed 20% of my Starbucks and Ulta Beauty holdings at US$105 (+20%) and US$344 (+35%) respectively. Ulta Beauty just announced its Q4 results 2 days ago. As expected due to Covid-19, it is lower than 2019Q4 but better than expectation. So for the coming year, they should do better. I am disappointed that Mary Dillon will be relinquishing her CEO role from June. The good thing is that she will stay on for another year as executive chairman. Going to just hold on to my remaining stake for the moment.
I also decided that I am not excited enough about the small 5G portfolio that I started in January. So I divested 4 Nvidia (-2%), Qualcomm (-20%), Square (+6.5%) and Skyworks (+2.6%). Transferring Paypal and Zynga to my main portfolio and I might add more to them in future.
The final action that I took for the month is to invest more CPF-OA into the 6 UTs that I held with FSMOne. The amount is 50% of the original sum invested last year and if the market corrects further, I am likely to put in the other 50%.