US 5-year Treasury auction (Jul 27): share awarded at stop-out yield 51.71%, prior 86.81%.

JP Morgan raises Honeywell (HON.O) PT to $262 from $250.

MAS on Monday tightened policy, citing renewed Middle East tensions and higher energy prices that could revive inflationary pressures. Using the exchange rate rather than interest rates, MAS very slightly steepened the upward slope of the Singapore dollar nominal effective exchange rate (NEER) policy band while keeping the band width and centre unchanged. MAS said external price pressures are expected to persist and transmit more broadly to domestic CPI for some time. In a poll of 18 analysts, 4 expected a slope increase, 1 expected a re-centering of the band, and 13 expected no change.