INSIDE SINGAPORE: SGD Set for Weekly Gain; MAS Sells 10-Yr Bond
Source: BFW (Bloomberg First Word)
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UUID: 7947283
(Bloomberg) -- Singapore dollar firmer, poised for first weekly gain this month. Central bank to auction S$2.5b ($1.8b) of 10-yr govt bond.
Alert: HALISTER1- HSBC expects “good demand” at auction as it’s the only 10- year issuance this year, according to May 26 note
- Debt may be issued in range of 2.20-2.25%
- 10-year govt notes have become more attractive after recent widening in yield spread over 10-year U.S. Treasury notes
- Yield on Singapore’s 10-yr bond fell 6 bps to 2.11% on May 26
- Six-month swap-offer rate dropped 4 bps to 1.40408% on May 26
- USD/SGD -0.1% at 1.3723; fallen 0.7% since May 20, which would be first weekly decline this month; MACD set to cross below signal line
- Singapore’s property market may be closer to a bottom than Hong Kong, according to LaSalle Investment Management
Source: BFW (Bloomberg First Word)
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UUID: 7947283