Run ! The Bonds Are Coming : Did U See SG Rates And Bonds Today ?
| Issuer | Cpn | Mty | CLOSE PRICE | PRICE CHANGE | CLOSE YIELD | Yld Chg | DAY HIGH | DAY LOW |
| SINGAPORE GOV’T | 0.5 | 1-Apr-18 | 98.75 | (0.05) | 0.782 | 0.01 | 98.75 | 98.75 |
| SINGAPORE GOV’T | 4 | 1-Sep-18 | 114.5 | (0.25) | 0.985 | 0.04 | 114.9 | 114.2 |
| SINGAPORE GOV’T | 2.5 | 1-Jun-19 | 106.5 | (0.40) | 1.31 | 0.07 | 106.5 | 106.5 |
| SINGAPORE GOV’T | 3.25 | 1-Sep-20 | 109.3 | (0.60) | 1.817 | 0.09 | 110.25 | 109.3 |
| SINGAPORE GOV’T | 2.25 | 1-Jun-21 | 102.4 | (0.45) | 1.913 | 0.06 | 103.3 | 102.4 |
| SINGAPORE GOV’T | 3.125 | 1-Sep-22 | 109.08 | (0.42) | 2.01 | 0.05 | 109.92 | 109.08 |
| SINGAPORE GOV’T | 2.75 | 1-Jul-23 | 104.58 | (0.77) | 2.226 | 0.09 | 105.85 | 104.5 |
| SINGAPORE GOV’T | 3 | 1-Sep-24 | 104.7 | (1.15) | 2.506 | 0.12 | 106.3 | 104.6 |
| SINGAPORE GOV’T | 3.5 | 1-Mar-27 | 107.98 | (1.37) | 2.784 | 0.12 | 109.8 | 107.98 |
| SINGAPORE GOV’T | 2.875 | 1-Sep-30 | 98.7 | (1.40) | 2.973 | 0.11 | 100.5 | 98.4 |
| SINGAPORE GOV’T | 3.375 | 1-Sep-33 | 103.8 | (0.90) | 3.118 | 0.06 | 105.6 | 103.8 |
| SINGAPORE GOV’T | 2.75 | 1-Apr-42 | 93.15 | (0.20) | 3.114 | 0.01 | 94.6 | 93.15 |
There is something in the air today that cause investors to turn their backs on govis after 1 1/2 hard days of rally.
Prices tipped off their 3 month highs only this morning with yields falling another 2 to 5 bp after yesterday’s 15-20 bp run, for a sharp and steep drop in the early afternoon that capitulated into a messy dump fest.
I expect it is the 2% demon in the 10Y yield that got investors scared. Throw in the RBI and their surprise rate hike, and suddenly EM is not ok yet.
Still, we saw a lifetime high for the new 10Y SGS which was auctioned in May this year. At 105.85 vs issued price 99.135. The new 20Y fared just as well from its auction just 3 weeks ago at 99.639 and saw a lifetime high of 105.60 – what a windfall !!
Maybe retail investors will start paying more attention to what I write about govis from now on.