“There should be some spillover impact, judging from the selloff in Treasury duration and the weaker dollar,” said Winson Phoon, head of fixed-income research at Maybank Securities Pte. “Singapore could be one of the beneficiaries.”
The steepest yield curve on Singapore’s bonds in about three years is signalling the time may be propitious for investors to buy long-dated debt at an auction this month.
A flight to safety following gyrations in US Treasuries in response to Donald Trump’s damaging tariffs, and a sharper decline in shorter debt relative to longer maturities will likely burnish the appeal of the local-currency bonds. The yield premium investors get for holding Singapore’s 30-year securities over its five-year debt is near the highest since March 2022.
