Singapore’s High Real Yields Seen Drawing Buyers After Selloff

Bloomberg2021-03-19

Bonds weighed by plans to sell more debt for infrastructure New debt will be positive for market development: Maybank The underperformance of Singapore-dollar bonds is making way for buyers to return...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

UnKnown_User
2021-03-19
UnKnown_User
Ok
hweeping
2021-03-19
hweeping
Nice
- hweeping:
  nice
- CsngReplyhweeping:
  Nice
- Csng:
  Nice
- Csng:
  Nicr
- hweeping:
  nice
Geniex
2021-03-19
Geniex
Please help to comment and like
- KyleFong:
  Sure. Please reply here back
- UnKnown_User:
  ok
Jayden1818
2021-03-19
Jayden1818
Oh no
missychatty
2021-03-19
missychatty
Wowww
TerenceD
2021-03-19
TerenceD
That’s ??

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1190832678?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-03-19 09:41","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1190832678","market":"sg","top_or_hot":-1,"title":"Singapore’s High Real Yields Seen Drawing Buyers After Selloff","media":"Bloomberg","content":"<div>\n<p>Bonds weighed by plans to sell more debt for infrastructure\nNew debt will be positive for market development: Maybank\n\nThe underperformance of Singapore-dollar bonds is making way for buyers to return...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-19/singapore-s-high-real-yields-seen-drawing-buyers-after-selloff?srnd=markets-vp\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore’s High Real Yields Seen Drawing Buyers After Selloff</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore’s High Real Yields Seen Drawing Buyers After Selloff\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 09:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://bloomberg.com/news/articles/2021-03-19/singapore-s-high-real-yields-seen-drawing-buyers-after-selloff?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bonds weighed by plans to sell more debt for infrastructure\nNew debt will be positive for market development: Maybank\n\nThe underperformance of Singapore-dollar bonds is making way for buyers to return...</p>\n\n<a href=\"http://bloomberg.com/news/articles/2021-03-19/singapore-s-high-real-yields-seen-drawing-buyers-after-selloff?srnd=markets-vp\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"STI.SI","symbol_name":"富时新加坡海峡指数","start_time":0,"source_url":"http://bloomberg.com/news/articles/2021-03-19/singapore-s-high-real-yields-seen-drawing-buyers-after-selloff?srnd=markets-vp","article_id":"1190832678","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1190832678","pubTimestamp":1616118110,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Bonds weighed by plans to sell more debt for infrastructure\nNew debt will be positive for market dev","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"translate_title":"在抛售之后，新加坡的高实际收益率吸引了买家","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"STI.SI":0.9},"content_text":"Bonds weighed by plans to sell more debt for infrastructure\nNew debt will be positive for market development: Maybank\n\nThe underperformance of Singapore-dollar bonds is making way for buyers to return as the nation now offers the highest real yields among top-rated countries.\nSingapore’s bonds were sold off in mid-February after the government announced plans to sell additional debt to finance infrastructure projects in the city state. The nation’s inflation-adjusted 10-year yield now offers a 62 basis points upside, compared to negative spreads for most other AAA-rated countries.\n“The repricing has taken place, and at the end of the day, supply of Singapore dollar bonds will still be modest compared to most other countries,” said Irene Cheung, senior strategist at Australia & New Zealand Banking Group Ltd. She expects decent demand for the new bonds to fund infrastructure projects.\n\nThe new debt will be called Singapore Government Securities (Infrastructure) and the existing bonds will be renamed to SGS (Market Development), according Ministry of Finance and Monetary Authority of Singapore spokespersons. Except for the different use of proceeds, the two types of bonds are interchangeable from the perspective of investors, the authorities said.\nWhile the added supply has jolted bond investors, analysts see long-term benefits of the infrastructure funding plan to outweigh the supply concerns. Singapore’s bond investors have been spared from a debt deluge facing other major markets as local authorities used reserves to fund coronavirus relief efforts. The city state has been selling bonds to invest proceeds and develop a yield curve rather than to plug a budget deficit.\n“SGS (Infrastructure) will undoubtedly be a long-term positive for the development of Singapore’s bond market,” said Winson Phoon, head of fixed-income research at Maybank Kim Eng Securities Pte in Singapore. “Such an initiative can help add diversity, widen the investor base and perhaps enhance liquidity depth of Singapore bonds.”\nThe first SGS (Infrastructure) issuance is expected to start in the fourth quarter of this year and Phoon sees the first issuance of S$2.7 billion ($2 billion) coming in November.\n\nSGS (Infrastructure) issuance would typically tilt toward the long-end of the yield curve to better match the useful life of the underlying infrastructure, the authorities said, adding that market development bonds can be shorter dated to manage overall duration.\nBond issuance with tenors of more than 10 years are rare in Singapore. The authorities offered 30-year debt in January and plan to auction 15-year and 20-year bonds in April and August, respectively.\n“While increased bond supply is generally viewed as a negative signal, Singapore is proving to be different,” said Eugene Leow, a rates strategist at DBS Bank Ltd. in Singapore. “The overall increase in SGS supply will be calibrated so I won’t be overly concerned,” Leow said.\n\nSingapore had a cyclically-adjusted budget deficit equivalent to 13.1% of gross domestic product last year, according to estimates from the International Monetary Fund. This deficit is expected to fall to 1.7% this year, which is narrower than some other AAA-rated countries.\n“As proceeds of SGS (Infrastructure) will be spent, the overall fiscal position will become more relevant,” said Frances Cheung, a rates strategist at Oversea-Chinese Banking Corp. in Singapore. “Nevertheless, with the high credit rating and disciplined fiscal approach, that should not affect the overall investor sentiment.”","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":327426103,"gmtCreate":1616118535702,"gmtModify":1704791173420,"author":{"id":"3562831586700151","authorId":"3562831586700151","name":"UnKnown_User","avatar":"https://static.tigerbbs.com/8fa97f8c6780ea3c15ce683069918617","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3562831586700151","idStr":"3562831586700151"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/327426103","repostId":1190832678,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":327428504,"gmtCreate":1616118507008,"gmtModify":1704791173258,"author":{"id":"3573083818292775","authorId":"3573083818292775","name":"hweeping","avatar":"https://static.tigerbbs.com/3c86901a4f095c2befa17f5008e48b23","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3573083818292775","idStr":"3573083818292775"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":7,"repostSize":0,"link":"https://ttm.financial/post/327428504","repostId":1190832678,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3863343,"gmtCreate":1616505217523,"gmtModify":1680781418952,"authorId":3573083818292775,"author":{"id":3573083818292775,"idStr":"3573083818292775","authorId":3573083818292775,"name":"hweeping","avatar":"https://static.tigerbbs.com/3c86901a4f095c2befa17f5008e48b23","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":327428504,"type":1,"supId":3839664,"prevId":0,"content":"<u>nice</u>","text":"<u>nice</u>","html":"<u>nice</u>"},{"id":3854924,"gmtCreate":1616422573536,"gmtModify":1680781295422,"authorId":3564133849855833,"author":{"id":3564133849855833,"idStr":"3564133849855833","authorId":3564133849855833,"name":"Csng","avatar":"https://static.tigerbbs.com/27db320669c8b43480398086bea9e9de","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3573083818292775,"repliedAuthor":{"id":3573083818292775,"idStr":"3573083818292775","authorId":3573083818292775,"name":"hweeping","avatar":"https://static.tigerbbs.com/3c86901a4f095c2befa17f5008e48b23","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"objectId":327428504,"type":1,"supId":3834080,"prevId":3844850,"content":"Nice","text":"Nice","html":"Nice"},{"id":3848108,"gmtCreate":1616366841417,"gmtModify":1680781195508,"authorId":3564133849855833,"author":{"id":3564133849855833,"idStr":"3564133849855833","authorId":3564133849855833,"name":"Csng","avatar":"https://static.tigerbbs.com/27db320669c8b43480398086bea9e9de","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":327428504,"type":1,"supId":0,"prevId":0,"content":"Nice","text":"Nice","html":"Nice"},{"id":3844836,"gmtCreate":1616295008165,"gmtModify":1680781142172,"authorId":3564133849855833,"author":{"id":3564133849855833,"idStr":"3564133849855833","authorId":3564133849855833,"name":"Csng","avatar":"https://static.tigerbbs.com/27db320669c8b43480398086bea9e9de","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":327428504,"type":1,"supId":0,"prevId":0,"content":"Nicr","text":"Nicr","html":"Nicr"},{"id":3844850,"gmtCreate":1616295101835,"gmtModify":1680781142030,"authorId":3573083818292775,"author":{"id":3573083818292775,"idStr":"3573083818292775","authorId":3573083818292775,"name":"hweeping","avatar":"https://static.tigerbbs.com/3c86901a4f095c2befa17f5008e48b23","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":327428504,"type":1,"supId":3834080,"prevId":0,"content":"<u>nice</u>","text":"<u>nice</u>","html":"<u>nice</u>"}],"langContent":"EN"},{"id":327428289,"gmtCreate":1616118503641,"gmtModify":1704791172775,"author":{"id":"3574943393887740","authorId":"3574943393887740","name":"Geniex","avatar":"https://static.tigerbbs.com/581664640a374b5a1a5c0cc84f9d53f4","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3574943393887740","idStr":"3574943393887740"},"htmlText":"Please help to comment and like&nbsp;","listText":"Please help to comment and like&nbsp;","text":"Please help to comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/327428289","repostId":1190832678,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3832469,"gmtCreate":1616119055163,"gmtModify":1680780951717,"authorId":3571137612858065,"author":{"id":3571137612858065,"idStr":"3571137612858065","authorId":3571137612858065,"name":"KyleFong","avatar":"https://static.tigerbbs.com/e17389fa1acf21e046b50105e4b79fa8","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":327428289,"type":1,"supId":3832376,"prevId":0,"content":"Sure. Please reply here back ","text":"Sure. Please reply here back ","html":"Sure. Please reply here back "},{"id":3832376,"gmtCreate":1616118526330,"gmtModify":1680780948628,"authorId":3562831586700151,"author":{"id":3562831586700151,"idStr":"3562831586700151","authorId":3562831586700151,"name":"UnKnown_User","avatar":"https://static.tigerbbs.com/8fa97f8c6780ea3c15ce683069918617","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":327428289,"type":1,"supId":0,"prevId":0,"content":"ok","text":"ok","html":"ok"}],"langContent":"EN"},{"id":327428607,"gmtCreate":1616118503209,"gmtModify":1704791172936,"author":{"id":"3573972009695324","authorId":"3573972009695324","name":"Jayden1818","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/1c1eed764d9c7ff83dc093fbb9a96bc2","crmLevel":2,"crmLevelSwitch":1,"authorIdStr":"3573972009695324","idStr":"3573972009695324"},"htmlText":"Oh no","listText":"Oh no","text":"Oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/327428607","repostId":1190832678,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":327421621,"gmtCreate":1616118451463,"gmtModify":1704791171157,"author":{"id":"3560333139103013","authorId":"3560333139103013","name":"missychatty","avatar":"https://static.tigerbbs.com/d75cdb42cbca99e3666b7b1796540245","vip":1,"crmLevel":5,"crmLevelSwitch":0,"authorIdStr":"3560333139103013","idStr":"3560333139103013"},"htmlText":"Wowww","listText":"Wowww","text":"Wowww","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/327421621","repostId":1190832678,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":327423876,"gmtCreate":1616118399095,"gmtModify":1704791170189,"author":{"id":"3573966231987456","authorId":"3573966231987456","name":"TerenceD","avatar":"https://static.tigerbbs.com/046d570a2a5c6793332b041c7628d5c3","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":2,"crmLevelSwitch":1,"authorIdStr":"3573966231987456","idStr":"3573966231987456"},"htmlText":"That’s ??&nbsp;","listText":"That’s ??&nbsp;","text":"That’s ??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/327423876","repostId":1190832678,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":32,"commentSize":9,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1190832678"}