For the bond portion of my por-To The Moon - Tiger Brokers Online Investing Community - To The Moon

For the bond portion of my portfolio, I’d prioritise capital stability before chasing the highest yield.

A 3.60% YTM with roughly 2.3 years of duration is interesting because it offers a higher prospective yield while limiting interest-rate sensitivity compared with long-duration bonds. But I wouldn’t treat the 3.60% as equivalent to a guaranteed 3.60% return. Credit spreads, defaults, portfolio changes, fees and interest-rate movements still matter.

The comparison I’d make is against T-bills, SSBs, fixed deposits and money-market funds. If a short-duration bond ETF offers only a small yield premium, I may prefer the simpler and lower-risk alternatives. If the premium becomes meaningful, taking some duration and credit risk becomes more attractive.

For me, bonds should primarily stabilise the equity side of the portfolio. Yield is compensation for risk, not the objective by itself.

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