HALISTER1: INSIDE SINGAPORE: USD/SGD, Govt Bond Yields Advance on Clinton

INSIDE SINGAPORE: USD/SGD, Govt Bond Yields Advance on Clinton

(Bloomberg) -- USD/SGD rises for first time in a week as FBI’s reaffirmation that Clinton didn’t commit a crime in her handling of emails as secretary of state lifts dollar against its peers while boosting Treasury yields.
  • FX pair gains 0.2% to 1.3866 after falling 0.8% in previous six days; Williams %R rebounds in oversold territory, now up to -70
  • Govt bonds decline following U.S. Treasuries, with local 20- year yield up 4bps to 2.39%
  • Investors should take advantage of any SGD strength by positioning short SGD against its basket, according to Nov. 4 note from RBS
    • MAS is poised to re-center the mid-point of SGD NEER by lowering it in April next year
    • The NEER is currently trading at 0.4 ppt below the mid- point of the band, by RBS’ estimates; only a level above the mid-point makes for decent risk-reward
  • Oct. foreign reserves due 5pm local time
  • Six-month swap-offer rate rose for first time in a week on Friday, up at 1.01689% from 1.01645%
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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