HALISTER1: SGD 1-Yr Swaps May Converge to USD; MAS Likely to Hold: Redward

SGD 1-Yr Swaps May Converge to USD; MAS Likely to Hold: Redward

(Bloomberg) -- Singapore dollar 1-year interest-rate swaps may decline further if U.S. nonfarm payrolls miss estimates, Peter Redward, principal at Redward Associates, says in an interview.
  • SGD 1-yr swap may possibly match USD 1-year swap in medium- term
  • USD 1-year swaps down 10bps this yr to 0.7700% while SGD 1- year lost 47bps to 1.3850%; click here for chart
  • SGD’s rise to above mid-point of NEER target zone is boosting interbank liquidity and lowering front-end rates, Redward says
  • Liquidity conditions now likely to be influenced by external factors, notably those affecting broad USD index: Redward
  • MAS unlikely to alter monetary policy in April: Redward
  • Related story: Short SGD via proxy NEER basket, says Redward
  • NOTE: U.S. nonfarm payrolls seen adding 205k jobs in March vs 242k previously, according to median estimate in Bloomberg survey; data due Friday
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Peter Redward (Redward Associates Ltd)

To de-activate this alert, click here

UUID: 7947283