The divergence underscores a growing decoupling, with Singapore’s two-year yields falling below their US counterparts by as much as 243 basis points in March.
(April 15): Singapore government bonds are extending their outperformance over US Treasuries to levels not seen since 2007, as a drop in local interbank borrowing costs points to a surge in haven demand.
By tightening monetary policy this week, the Monetary Authority of Singapore (MAS) has helped attract greater global liquidity, allowing local securities to defy oil-driven inflation and also the lure of higher US yields.
