THE MILD SETBACK for US equities of late could be attributed to a combination of fierce winter storms in the northeastern US, ongoing concerns about economic growth and the prospects for hiring and some disappointing consumer- confidence figures. For the week ended Feb 26, the Dow Jones Industrial Average lost 0.7% to close at 10,325, the Standard & Poor’s 500 Index declined 0.4% to 1,104 and the Nasdaq Composite Index was down 0.3% to 2,238. With these declines, US markets are now down roughly 1% for the year.

FOREIGN MONEY, escalating home prices, locals feeling priced out of the market, cooling measures. This isn’t just happening in Singapore, it’s also hitting Hong Kong. In both cases, a global economic upswing plus a loose monetary climate have triggered an inflow of money desperately looking for returns amid near-zero nominal deposit rates.

IMAGINE A BANK that operates seven days a week, where you can open a bank account in 15 minutes and receive your credit card, debit card and chequebook immediately. Standard practice in Asia, you may say. It’s expected of our banks, you may add. Here in the UK, however, where consumers have resigned themselves to dreadful service levels and appalling lead times — up to 10 days to receive one’s cards and chequebook — such instantaneous, customer-focused service is nothing short of phenomenal.