As interest rates fall, demand for Singapore savings bonds (SSBs) (total subscription amount) has almost halved for three months and has been below supply (maximum supply amount) for four consecutive months. According to the subscription results rel...
As interest rates fall, demand for Singapore savings bonds (SSBs) (total subscription amount) has almost halved for three months and has been below supply (maximum supply amount) for four consecutive months.
According to the subscription results released by the Monetary Authority of Singapore on Thursday (June 26), the Singapore Savings Bonds, which will be issued on July 1, received a total subscription amount of RMB 353.7 million at the end of June 25. Although it is higher than the total subscription amount of RMB 302.9 million last month, it continues to be significantly lower than the maximum supply amount.
In the past year, except for the savings bonds issued on March 3, the other six months have faced lower demand than supply. The total subscription amount of savings bonds issued on April 1 this year was the highest, reaching 677.9 million yuan.
The maximum supply of savings bonds issued on July 1 was 400 million yuan, a significant decrease from 700 million yuan of bonds issued on April 1. Meanwhile, its 10-year average interest rate is 2.49%, which has fallen from 2.97% of savings bonds issued on March 3, down four consecutive months.
