April 29 (Bloomberg) — Benchmark 10-yr note yield falls to
1.357% as of 9:56am in Singapore.
• It compares with close at 1.401% on April 26 and is poised for lowest close since Jan. 23, according to data compiled by the central bank
Not true. Historic low was on 11 Dec at 1.29% for the 10Y.
At the same time, STI is at its historic high today.
I do not know if its the dividend play.
Average dividend yield on STI without adjusting for weights is 2.76%. And if you look at the table below which I have roughly done up for year to date, dividends are favoured over growth engine stocks like poor Keppel and Sembcorp.
The USD/SGD is also testing its 1 month low at 1.2349 and the 6M SOR has been fixing between 0.35 to 0.40 for the entire month (except for a 0.41 fix on 11 April).
I am not sure if we are running ahead of ourselves here or this is the new norm, great rotation or transition if you want to call it but it is looking mighty stretched here.
We are at the end of April. Could it really be Sell in May ?