Surprising fact: a one-percentage-point move in the quoted yield between Dec 2024 and Jan 2025 changed total returns by more than many investors expected.
We’ll set the stage so you see how a quoted figure connects to the cash you actually receive and the total return you can expect.
You’ll learn the gap between published numbers and real market pricing, and why that matters for decisions made in Dec 2024 and Jan 2025.
Expect plain-English definitions, short examples, and clear steps to align choices with your financial goals. We explain where yield comes from, how coupons are paid, and how moves translate into price changes.
If you want personal guidance, Whatsapp us for a discovery session.
Key Takeaways
- Quoted figures affect income and total return—know the difference.
- Market pricing often differs from published yields; timing matters.
- Dec 2024 and Jan 2025 moves created both risk and opportunity.
- Simple math makes outcomes predictable for your financial goals.
- We offer clear next steps and personal help—Whatsapp us for a discovery session.
Beginner’s overview: What are Singapore Government Securities and Savings Bonds?
Start with a simple view: these instruments let savers and institutions lend to the state for set terms and predictable payments.
Singapore government securities are market-issued debt securities that pay fixed coupons every six months. They span maturities from 2 to 50 years and are tradable via dealer banks or the exchange. Minimums start at S$1,000 and auction allotments can affect the final amount you receive.
Singapore savings bonds are a monthly, consumer-focused product with step-up payouts and flexible early redemption. They cap total holdings and suit individuals who want simple access and predictable cash flow.
SGS vs SSB: quick comparison
| Feature | SGS | SSB |
|---|---|---|
| Purpose | Market tradability, specific maturities | Accessibility, monthly subscriptions |
| Minimum / cap | S$1,000 / no general cap | S$500 min / capped holdings |
| Liquidity | Dealer banks / SGX | Penalty-free early redemption |
| Credit | AAA credit rating | Same AAA backing |
If you need tailored guidance—especially after the moves in Dec 2024 and Jan 2025—Whatsapp us for a discovery session. We will map products to your goals with clear information and no pressure.
How interest rates and bond yields work for beginners
A bond’s printed coupon tells one story; the price you pay today completes the picture of your return.
Coupon vs yield: The coupon is the fixed dollar payment you receive on a schedule. Yield shows your overall return based on the price you pay, future payments, and redemption at par.
The Apr 2025 Green SGS example makes this concrete. A 30‑year 3.25% p.a. coupon pays S$325 on S$10,000 in two S$162.50 payments each year. If you buy at S$9,500, your yield rises to ~3.42% because the same coupons are divided by a lower purchase price.
Price-yield inverse relationship
- Coupons are fixed and paid every six months; market prices move month to month.
- Buy below par → yield > coupon; buy above par → yield
- When interest rates rise, existing bonds with lower coupons usually fall in price; when rates fall, prices tend to climb.
Practical takeaway: choose the maturity and price that match your time horizon and cash flow needs. For a personalised walkthrough of dec 2024 and jan 2025 scenarios, Whatsapp us for a discovery session.
singapore government bonds interest rate: where today’s levels stand
We offer a quick market view so you can act confidently after the Dec 2024 and Jan 2025 moves.
Current short-end yields are a month-to-month barometer. The 1-year bond yield printed 2.76% in Feb 2025, down from 2.90% in Jan 2025. That dip is useful when you time near-term cash deployment or decide on short rolls.
Long-tenor guideposts and historical context
Closing curves on 23 Apr 2025 show 20–30+ year yields roughly 2.5%–2.7%. These levels help planners match long liabilities and set expectations for steady payout streams.
Since Jan 1988, short-term yields swung between a peak of 4.86% (Aug 1988) and a low of 0.18% (Aug 2011). That history reminds us cycles evolve with inflation, growth, and policy.
- Short end: 1-year = 2.76% (Feb 2025) vs 2.90% (Jan 2025).
- Long end: 20–30+ year ≈ 2.5%–2.7% (23 Apr 2025).
- History: Peak 4.86% / Low 0.18% since 1988.
| Horizon | Recent level | Role for investors |
|---|---|---|
| 1-year | 2.76% (Feb 2025) | Cash management, short ladders |
| 20–30+ year | 2.5%–2.7% (23 Apr 2025) | Liability matching, long-term income |
| Historical range | 0.18%–4.86% (since 1988) | Context for cycle timing |
Practical takeaway: in a mid-range market, disciplined laddering eases reinvestment risk across Dec 2024, Jan 2025, and beyond. Whatsapp us for a discovery session and we’ll map specific yield targets to your timeline.
The Monetary Authority of Singapore’s role in the bond market
A clear issuance timetable and auction rules help investors plan cash and bids.
The monetary authority organises issuance via a public calendar, periodic syndications and regular uniform‑price auctions.
Issuance calendar, syndications, and uniform-price auctions
Scheduled announcements tell you when new government securities will be offered. Syndications use bookrunners to build demand with institutions before a public launch.
Uniform‑price auctions set a single cut‑off yield that applies to all successful bidders. That keeps pricing fair across participants.
Competitive vs non-competitive bidding and the cut-off yield
- Non‑competitive bids are simple: state an amount and accept the cut‑off. Up to 40% of bonds issued go to these bids and are pro‑rated if demand exceeds supply.
- Competitive bids let you target a specific yield. Auctions fill competitive bids from the lowest yield up to the cut‑off.
Plan funds and paperwork ahead of the business day deadline so allotment and settlement occur smoothly. Decide your bid type, set the amount you need, and weigh auction risk versus buying later in the secondary market.
Practical note: the authority singapore keeps the market orderly and liquid so individuals can participate alongside institutions.
If you’d like help sizing bids or timing entries for Dec 2024 and Jan 2025 windows, Whatsapp us for a discovery session.
Singapore Savings Bonds today: laddered returns and recent issues
A monthly SSB issue gives you a clear path to build a laddered income stream. These products use a step-up schedule so holding longer raises your scheduled returns.
- Step-up design: Year 1 pays lower and Year 10 pays higher; the Jan 2025 issue averages 2.86% per year over ten years.
- Early redemption: You may redeem penalty-free and receive proceeds by the second business day of the following month; a $2 transaction fee applies.
- Access: Minimum investment is $500 in multiples of $500; max holdings per account are $200,000 across cash and SRS accounts.
“Apply in the previous month to secure an allotment and keep laddering monthly for steady cash flow.”
| Item | Jan 2025 issue | Key dates |
|---|---|---|
| Amount offered | S$600m | Issue date 2 Jan 2025 |
| Tenor / payments | 10 years / semiannual payments on 1 Jan & 1 Jul | Applications 2 Dec 2024–26 Dec 2024 |
| Yield path | 1Y 2.73% → 10Y 3.01%, 10-yr avg 2.86% per year | Tax-exempt for individuals |
Practical tip: use monthly applications to build a ladder and pair with longer SGS holdings for duration balance. If you want help building or topping up an SSB ladder for 2025, Whatsapp us for a discovery session.
Returns in practice: Calculating coupons, yield, and effective per year
Let’s turn the printed coupon into the actual cash you’ll receive each year.
Example: a 30‑year bond with a 3.25% coupon on a S$10,000 face amount pays S$325 per year in two S$162.50 semiannual installments. If you buy at S$9,500, the same coupons give a higher yield (~3.42%) because your purchase price is lower.
- Coupon income: face amount × coupon = annual interest, split into two six‑month payments.
- Yield to maturity: annualized return that factors purchase price, all coupons, and redemption at par.
- Discount vs premium: buy below par → yield exceeds coupon; buy above par → yield falls below coupon.
Accrued interest at settlement changes the cash you pay and the first coupon stub you get. Nominal return is the coupon; effective return depends on whether you reinvest coupons and at what yields across dec 2024 and jan 2025 conditions.
Plan cash flow by mapping coupon dates to your monthly expenses or planned distributions. Before you trade, run this quick checklist: target yield, desired amount, time to maturity, and overall budget. Prefer us to run the math on your holdings? Whatsapp us for a discovery session—we’ll calculate blended yields and effective returns on your ladder.
Access and liquidity: Buying, holding, and selling SGS in the secondary market
Knowing where and how to trade affects the cash you keep and the flexibility you retain.
Channels: You can buy SGS using cash, your SRS account, or CPF-SA/CPF-OA. SSBs accept cash or SRS. Choose the channel that matches your liquidity needs and long-term plan.
Minimums, allotments, and refunds
The minimum investment for SGS is S$1,000 in S$1,000 increments. SSBs start at S$500 with a $200,000 cap per individual.
For reopened SGS auctions, 115% of your bid may be debited upfront. Any excess is returned after allotment. Unsuccessful bids are normally refunded within 1–2 business days, so plan funds ahead of settlement.
Selling in the secondary market
You can sell SGS through dealer banks or on SGX. Executed prices reflect current yields, so your sale may produce capital gains or losses versus the price you paid.
| Item | What to expect | Why it matters |
|---|---|---|
| Channels | Cash / SRS / CPF-SA / CPF-OA for SGS; Cash / SRS for SSB | Choose for liquidity or long-term holding |
| Minimum investment | S$1,000 SGS; S$500 SSB | Sets how you ladder and dollar-cost-average |
| Refund timing | 115% debit for reopenings; refunds in 1–2 business days | Affects cash planning around auction dates |
| Secondary market | Dealer banks / SGX execution; prices vary intraday | Allows matching to target yields or quick liquidity |
Practical steps: pick the amount and tenor, decide your funding account, and set execution preferences. Monitor settlement and coupon dates so cashflows align with needs for Dec 2024 and Jan 2025.
“If you want a hands-off route, Whatsapp us for a discovery session — we’ll plan purchases and manage key dates across Dec 2024 and Jan 2025 timelines.”
Risks to understand: Interest rate moves and inflation in Singapore
Risk shows up when expected cashflows meet unexpected inflation or market moves.
Duration matters: longer-tenor debt (20–50 year) has higher price sensitivity. A small shift in bond yield can cause bigger price swings on long securities than on short ones.
Duration and price sensitivity for 2–50 year bonds
Duration 101: a longer maturity amplifies market value changes when yields move. That works both ways—prices fall when yields rise and recover when yields drop.
Real returns vs MAS core inflation (2024–2025)
MAS core inflation averaged about 2.5%–3.5% in 2024 while CPI-All Items ran close to 2%–3% the same year. Compare your nominal yield to these figures to judge real purchasing power.
“Target yields above expected inflation to preserve spending power over time.”
- Short-term signal: the 1-year bond yield eased from 2.90% in Jan 2025 to 2.76% in Feb 2025, showing how quickly reinvestment opportunities can shift.
- Risk types: market value fluctuation (interest rates), credit (minimal with a strong credit rating), and liquidity (thin markets can widen spreads).
- Debt cycle: inflation and growth phases help time when to extend or shorten duration.
| Risk | Why it matters | Practical step |
|---|---|---|
| Duration | Long maturities show larger price moves for small yield changes | Match long bonds to distant goals; avoid using them for near-term cash |
| Inflation | High inflation erodes nominal returns | Seek yields above expected inflation or blend with step-up SSBs |
| Liquidity & Credit | Thin markets can hurt execution; credit risk is low with a top credit rating | Keep some short holdings and check dealer spreads before selling |
Practical framework: match maturities to your spending horizon year by year. Mix step-up saving products with selected long SGS to balance protection and growth.
Want a risk review on your current ladder? Whatsapp us for a discovery session—we’ll measure duration, stress-test against inflation, and propose adjustments around dec 2024 and jan 2025 planning windows.
Strategy for individuals and businesses in Singapore
Tactical ladders and barbells help you capture yield while keeping liquidity when needed.
Building a barbell or ladder with SSBs and longer SGS maturities
Use singapore savings bonds for the near-to-medium leg of a ladder. They give step-up returns and easy early redemption for predictable cash.
Pair those with longer SGS maturities to add a term premium and steady coupons. The mix smooths reinvestment risk across dec 2024 and jan 2025 windows.
Allocating by time horizon, market conditions, and credit comfort
Reserve short maturities for upcoming expenses like tuition or renovations. Use intermediate and long holdings for retirement income or legacy planning.
For businesses: match maturities to forecasted outflows and keep some cash-like assets for surprises. Add on weakness when yields spike; trim duration when cycles turn.
Whatsapp us for a discovery session to align bonds with your financial goals
We coordinate coupon dates with your cashflow calendar so payments land when you need them. That reduces ad-hoc withdrawals and stress.
Ready to personalise the mix? Whatsapp us for a discovery session and we’ll translate your financial goals into a clear, executable investment plan.
| Objective | Tool | Time horizon | Practical tip |
|---|---|---|---|
| Predictable income | Singapore savings bonds | 1–5 years | Build monthly ladder; redeem penalty-free if needed |
| Term premium | Long SGS | 10–30+ years | Anchor core with AAA exposure; avoid using for near-term cash |
| Liquidity & flexibility | Short SGS / cash-like holdings | 0–2 years | Hold for business treasury needs and quick disbursements |
Conclusion
To finish, focus on the simple actions that turn knowledge into predictable income.
What to do next: set clear time horizons by month and year, pick target maturities, and fund the right account ahead of deadlines. Track each coupon month and tax status so you know expected income per year.
Remember how the monetary authority singapore structures auctions and timelines—from the previous month application to business day settlement—and use that schedule when planning amounts to invest.
Compare your target bond yield to inflation, revisit allocations every months, and keep records tidy. If you want a second set of eyes, Whatsapp us for a discovery session and we’ll turn this guide into a tailored product and portfolio plan. For official details, see Singapore government bonds information.
FAQ
Understand Singapore Government Bonds Interest Rate — what does this mean for my money?
It means you can compare secure debt securities issued by the state to other options. These instruments pay periodic returns and protect principal better than many private debt products. Use them to match cash flow needs, preserve capital, or add predictable income to a portfolio.
Beginner’s overview: What are Singapore Government Securities and Savings Bonds?
Singapore Government Securities (SGS) are marketable debt papers with fixed terms and regular coupons. Singapore Savings Bonds (SSB) are retail products designed for individuals, offering step-up interest and penalty-free redemption after a short holding period. Both aim to provide low-risk returns backed by the full faith of the issuer.
SGS vs SSB: How do these debt securities differ for individuals?
SGS are tradable in secondary markets and suit investors who need yield and liquidity. SSB are non-tradeable retail bonds with a rising schedule of returns and easy redemptions, ideal for savers who want simplicity and capital protection without market price risk.
Credit quality and backing: Why does a AAA rating matter for my cash and goals?
A top credit rating signals very low default risk. That means these instruments are suitable for capital preservation and for meeting near-term liabilities, especially for retirees or professionals seeking steady, dependable income.
How do coupon and yield differ: fixed payments versus market return?
A coupon is the fixed payment set when the security is issued, usually paid semiannually. Yield reflects the total return an investor gets based on purchase price and coupons. If you buy at par, coupon and yield match; if you buy at a premium or discount, yield adjusts accordingly.
How does the price-yield inverse relationship work — can you give a simple example?
When market yields rise, existing bond prices fall so their yields align with new issues; when yields fall, prices rise. Example: a bond paying a year on a
FAQ
Understand Singapore Government Bonds Interest Rate — what does this mean for my money?
It means you can compare secure debt securities issued by the state to other options. These instruments pay periodic returns and protect principal better than many private debt products. Use them to match cash flow needs, preserve capital, or add predictable income to a portfolio.
Beginner’s overview: What are Singapore Government Securities and Savings Bonds?
Singapore Government Securities (SGS) are marketable debt papers with fixed terms and regular coupons. Singapore Savings Bonds (SSB) are retail products designed for individuals, offering step-up interest and penalty-free redemption after a short holding period. Both aim to provide low-risk returns backed by the full faith of the issuer.
SGS vs SSB: How do these debt securities differ for individuals?
SGS are tradable in secondary markets and suit investors who need yield and liquidity. SSB are non-tradeable retail bonds with a rising schedule of returns and easy redemptions, ideal for savers who want simplicity and capital protection without market price risk.
Credit quality and backing: Why does a AAA rating matter for my cash and goals?
A top credit rating signals very low default risk. That means these instruments are suitable for capital preservation and for meeting near-term liabilities, especially for retirees or professionals seeking steady, dependable income.
How do coupon and yield differ: fixed payments versus market return?
A coupon is the fixed payment set when the security is issued, usually paid semiannually. Yield reflects the total return an investor gets based on purchase price and coupons. If you buy at par, coupon and yield match; if you buy at a premium or discount, yield adjusts accordingly.
How does the price-yield inverse relationship work — can you give a simple example?
When market yields rise, existing bond prices fall so their yields align with new issues; when yields fall, prices rise. Example: a bond paying $50 a year on a $1,000 face value yields 5%. If market yields move to 4%, that same $50 is worth more, so the bond price rises above $1,000.
Where do today’s levels stand for these securities?
Short-term yields have recently been near mid-single digits in percentage terms for one-year tenors, while longer maturities sit in a different band. Levels shift with monetary policy, global rates, and demand — review official data sources for exact daily figures.
What is a short-term snapshot example for yields?
As a recent reference point, the one-year benchmark hovered around 2.76% in February 2025 per market compilations. Short-term yields react quickly to policy and liquidity, so expect regular movement.
How do long-tenor yields behave and why should I care?
Long-dated yields (20–30+ years) reflect long-term growth and inflation expectations. They tend to be smoother but respond to structural shifts and supply. Investors use them for duration matching and pension-style liabilities.
Why does historical context since 1988 matter?
Long history shows cycles of highs and lows driven by inflation, policy, and global shocks. That perspective helps set expectations for volatility and real returns across different economic regimes.
What role does the Monetary Authority of Singapore play in this market?
The authority issues securities, schedules auctions, and oversees market infrastructure. It sets issuance calendars, runs uniform-price auctions, and ensures orderly functioning of primary and secondary markets.
How do issuance calendars, syndications, and uniform-price auctions work?
The issuance calendar announces planned supply. Syndications handle large institutional placements. Uniform-price auctions allocate offers at a single cut-off yield, promoting transparency in pricing for competitive bids.
What is the difference between competitive and non-competitive bidding?
Competitive bidders specify the yield they accept and risk partial allocation. Non-competitive bids accept the cut-off yield and receive full allotment up to limits, simplifying participation for smaller investors.
How do SSBs work: step-up interest and penalty-free redemptions?
SSBs pay increasing interest each year. You may redeem without penalty after a short settlement window, typically credited within two business days, making them flexible for short- to medium-term goals.
What were recent SSB levels and minimum investment terms?
A recent issuance had a 10-year average return around 2.86% with a low entry of $500. Monthly issuances and published returns let savers ladder holdings or top up positions regularly.
How often are SSBs issued and when do interest dates occur?
SSB offers follow a monthly cadence: applications close in one month, issuance occurs shortly after, and interest accrues from the issue date. Check the published calendar for exact deadlines and payment dates.
How do you calculate coupons, yield, and effective annual return?
Coupon payments are straightforward sums of the stated coupon. Yield-to-maturity factors in price, coupons, and time to maturity to show annualized return. Use online calculators or spreadsheets to model scenarios and compare with alternatives.
How can I buy, hold, and sell these securities in the secondary market?
You can buy at auctions via your bank or broker, hold in cash or eligible accounts, and sell in the secondary market through brokers. Liquidity varies by tenor and market conditions; institutional market depth is generally higher than retail.
What channels support purchases and holding: cash, SRS, CPF?
Retail purchases use cash and Supplementary Retirement Scheme (SRS) accounts; specific retirement accounts like CPF SA or OA have designated schemes for certain instruments. SSB typically supports cash and SRS only. Confirm eligibility with your custodian.
What are minimum investments, allotment limits, and refund timing on business days?
Minimum investments can be small for retail issues (for example, $500). Allotment limits prevent concentration. Refunds for unsuccessful bids are processed on specified business days, as stated in issuance details.
What risks should I understand — rate moves and inflation?
Key risks are price volatility when yields move and erosion of purchasing power if returns lag inflation. Shorter maturities reduce price sensitivity; longer maturities increase it. Plan holdings to match your inflation expectations and time horizon.
How does duration affect price sensitivity across 2–50 year tenors?
Duration measures how much a bond’s price moves when yields change. Short bonds have low duration and small price swings; long bonds can move substantially for the same yield shift. Use duration to manage interest-rate risk.
What about real returns versus core inflation ranges in 2024–2025?
Compare nominal yields to core inflation to estimate real returns. In recent periods, core inflation trends narrowed but remained an important determinant of real purchasing power—monitor both for realistic return expectations.
What strategies work for individuals and businesses?
Common approaches include laddering across short and long maturities, building a barbell with near-term SSBs and long SGS holdings, or matching liabilities with appropriate tenors. Tailor allocations by time horizon and risk tolerance.
How should I allocate by time horizon, market conditions, and credit comfort?
For near-term needs, favor short-dated retail products and cash equivalents. For long-term income or liabilities, consider longer tenors. Adjust allocations based on yield curve shape, inflation outlook, and how much credit reassurance you need.
Can I get personalised advice or a discovery session to align these instruments with my goals?
Yes — contact a licensed adviser or your wealth manager for a tailored review. They can help map holdings to your cash flow needs, tax situation, and financial objectives. Use secure channels like official contact forms or verified messaging options.
,000 face value yields 5%. If market yields move to 4%, that same is worth more, so the bond price rises above
FAQ
Understand Singapore Government Bonds Interest Rate — what does this mean for my money?
It means you can compare secure debt securities issued by the state to other options. These instruments pay periodic returns and protect principal better than many private debt products. Use them to match cash flow needs, preserve capital, or add predictable income to a portfolio.
Beginner’s overview: What are Singapore Government Securities and Savings Bonds?
Singapore Government Securities (SGS) are marketable debt papers with fixed terms and regular coupons. Singapore Savings Bonds (SSB) are retail products designed for individuals, offering step-up interest and penalty-free redemption after a short holding period. Both aim to provide low-risk returns backed by the full faith of the issuer.
SGS vs SSB: How do these debt securities differ for individuals?
SGS are tradable in secondary markets and suit investors who need yield and liquidity. SSB are non-tradeable retail bonds with a rising schedule of returns and easy redemptions, ideal for savers who want simplicity and capital protection without market price risk.
Credit quality and backing: Why does a AAA rating matter for my cash and goals?
A top credit rating signals very low default risk. That means these instruments are suitable for capital preservation and for meeting near-term liabilities, especially for retirees or professionals seeking steady, dependable income.
How do coupon and yield differ: fixed payments versus market return?
A coupon is the fixed payment set when the security is issued, usually paid semiannually. Yield reflects the total return an investor gets based on purchase price and coupons. If you buy at par, coupon and yield match; if you buy at a premium or discount, yield adjusts accordingly.
How does the price-yield inverse relationship work — can you give a simple example?
When market yields rise, existing bond prices fall so their yields align with new issues; when yields fall, prices rise. Example: a bond paying $50 a year on a $1,000 face value yields 5%. If market yields move to 4%, that same $50 is worth more, so the bond price rises above $1,000.
Where do today’s levels stand for these securities?
Short-term yields have recently been near mid-single digits in percentage terms for one-year tenors, while longer maturities sit in a different band. Levels shift with monetary policy, global rates, and demand — review official data sources for exact daily figures.
What is a short-term snapshot example for yields?
As a recent reference point, the one-year benchmark hovered around 2.76% in February 2025 per market compilations. Short-term yields react quickly to policy and liquidity, so expect regular movement.
How do long-tenor yields behave and why should I care?
Long-dated yields (20–30+ years) reflect long-term growth and inflation expectations. They tend to be smoother but respond to structural shifts and supply. Investors use them for duration matching and pension-style liabilities.
Why does historical context since 1988 matter?
Long history shows cycles of highs and lows driven by inflation, policy, and global shocks. That perspective helps set expectations for volatility and real returns across different economic regimes.
What role does the Monetary Authority of Singapore play in this market?
The authority issues securities, schedules auctions, and oversees market infrastructure. It sets issuance calendars, runs uniform-price auctions, and ensures orderly functioning of primary and secondary markets.
How do issuance calendars, syndications, and uniform-price auctions work?
The issuance calendar announces planned supply. Syndications handle large institutional placements. Uniform-price auctions allocate offers at a single cut-off yield, promoting transparency in pricing for competitive bids.
What is the difference between competitive and non-competitive bidding?
Competitive bidders specify the yield they accept and risk partial allocation. Non-competitive bids accept the cut-off yield and receive full allotment up to limits, simplifying participation for smaller investors.
How do SSBs work: step-up interest and penalty-free redemptions?
SSBs pay increasing interest each year. You may redeem without penalty after a short settlement window, typically credited within two business days, making them flexible for short- to medium-term goals.
What were recent SSB levels and minimum investment terms?
A recent issuance had a 10-year average return around 2.86% with a low entry of $500. Monthly issuances and published returns let savers ladder holdings or top up positions regularly.
How often are SSBs issued and when do interest dates occur?
SSB offers follow a monthly cadence: applications close in one month, issuance occurs shortly after, and interest accrues from the issue date. Check the published calendar for exact deadlines and payment dates.
How do you calculate coupons, yield, and effective annual return?
Coupon payments are straightforward sums of the stated coupon. Yield-to-maturity factors in price, coupons, and time to maturity to show annualized return. Use online calculators or spreadsheets to model scenarios and compare with alternatives.
How can I buy, hold, and sell these securities in the secondary market?
You can buy at auctions via your bank or broker, hold in cash or eligible accounts, and sell in the secondary market through brokers. Liquidity varies by tenor and market conditions; institutional market depth is generally higher than retail.
What channels support purchases and holding: cash, SRS, CPF?
Retail purchases use cash and Supplementary Retirement Scheme (SRS) accounts; specific retirement accounts like CPF SA or OA have designated schemes for certain instruments. SSB typically supports cash and SRS only. Confirm eligibility with your custodian.
What are minimum investments, allotment limits, and refund timing on business days?
Minimum investments can be small for retail issues (for example, $500). Allotment limits prevent concentration. Refunds for unsuccessful bids are processed on specified business days, as stated in issuance details.
What risks should I understand — rate moves and inflation?
Key risks are price volatility when yields move and erosion of purchasing power if returns lag inflation. Shorter maturities reduce price sensitivity; longer maturities increase it. Plan holdings to match your inflation expectations and time horizon.
How does duration affect price sensitivity across 2–50 year tenors?
Duration measures how much a bond’s price moves when yields change. Short bonds have low duration and small price swings; long bonds can move substantially for the same yield shift. Use duration to manage interest-rate risk.
What about real returns versus core inflation ranges in 2024–2025?
Compare nominal yields to core inflation to estimate real returns. In recent periods, core inflation trends narrowed but remained an important determinant of real purchasing power—monitor both for realistic return expectations.
What strategies work for individuals and businesses?
Common approaches include laddering across short and long maturities, building a barbell with near-term SSBs and long SGS holdings, or matching liabilities with appropriate tenors. Tailor allocations by time horizon and risk tolerance.
How should I allocate by time horizon, market conditions, and credit comfort?
For near-term needs, favor short-dated retail products and cash equivalents. For long-term income or liabilities, consider longer tenors. Adjust allocations based on yield curve shape, inflation outlook, and how much credit reassurance you need.
Can I get personalised advice or a discovery session to align these instruments with my goals?
Yes — contact a licensed adviser or your wealth manager for a tailored review. They can help map holdings to your cash flow needs, tax situation, and financial objectives. Use secure channels like official contact forms or verified messaging options.
,000.
Where do today’s levels stand for these securities?
Short-term yields have recently been near mid-single digits in percentage terms for one-year tenors, while longer maturities sit in a different band. Levels shift with monetary policy, global rates, and demand — review official data sources for exact daily figures.
What is a short-term snapshot example for yields?
As a recent reference point, the one-year benchmark hovered around 2.76% in February 2025 per market compilations. Short-term yields react quickly to policy and liquidity, so expect regular movement.
How do long-tenor yields behave and why should I care?
Long-dated yields (20–30+ years) reflect long-term growth and inflation expectations. They tend to be smoother but respond to structural shifts and supply. Investors use them for duration matching and pension-style liabilities.
Why does historical context since 1988 matter?
Long history shows cycles of highs and lows driven by inflation, policy, and global shocks. That perspective helps set expectations for volatility and real returns across different economic regimes.
What role does the Monetary Authority of Singapore play in this market?
The authority issues securities, schedules auctions, and oversees market infrastructure. It sets issuance calendars, runs uniform-price auctions, and ensures orderly functioning of primary and secondary markets.
How do issuance calendars, syndications, and uniform-price auctions work?
The issuance calendar announces planned supply. Syndications handle large institutional placements. Uniform-price auctions allocate offers at a single cut-off yield, promoting transparency in pricing for competitive bids.
What is the difference between competitive and non-competitive bidding?
Competitive bidders specify the yield they accept and risk partial allocation. Non-competitive bids accept the cut-off yield and receive full allotment up to limits, simplifying participation for smaller investors.
How do SSBs work: step-up interest and penalty-free redemptions?
SSBs pay increasing interest each year. You may redeem without penalty after a short settlement window, typically credited within two business days, making them flexible for short- to medium-term goals.
What were recent SSB levels and minimum investment terms?
A recent issuance had a 10-year average return around 2.86% with a low entry of 0. Monthly issuances and published returns let savers ladder holdings or top up positions regularly.
How often are SSBs issued and when do interest dates occur?
SSB offers follow a monthly cadence: applications close in one month, issuance occurs shortly after, and interest accrues from the issue date. Check the published calendar for exact deadlines and payment dates.
How do you calculate coupons, yield, and effective annual return?
Coupon payments are straightforward sums of the stated coupon. Yield-to-maturity factors in price, coupons, and time to maturity to show annualized return. Use online calculators or spreadsheets to model scenarios and compare with alternatives.
How can I buy, hold, and sell these securities in the secondary market?
You can buy at auctions via your bank or broker, hold in cash or eligible accounts, and sell in the secondary market through brokers. Liquidity varies by tenor and market conditions; institutional market depth is generally higher than retail.
What channels support purchases and holding: cash, SRS, CPF?
Retail purchases use cash and Supplementary Retirement Scheme (SRS) accounts; specific retirement accounts like CPF SA or OA have designated schemes for certain instruments. SSB typically supports cash and SRS only. Confirm eligibility with your custodian.
What are minimum investments, allotment limits, and refund timing on business days?
Minimum investments can be small for retail issues (for example, 0). Allotment limits prevent concentration. Refunds for unsuccessful bids are processed on specified business days, as stated in issuance details.
What risks should I understand — rate moves and inflation?
Key risks are price volatility when yields move and erosion of purchasing power if returns lag inflation. Shorter maturities reduce price sensitivity; longer maturities increase it. Plan holdings to match your inflation expectations and time horizon.
How does duration affect price sensitivity across 2–50 year tenors?
Duration measures how much a bond’s price moves when yields change. Short bonds have low duration and small price swings; long bonds can move substantially for the same yield shift. Use duration to manage interest-rate risk.
What about real returns versus core inflation ranges in 2024–2025?
Compare nominal yields to core inflation to estimate real returns. In recent periods, core inflation trends narrowed but remained an important determinant of real purchasing power—monitor both for realistic return expectations.
What strategies work for individuals and businesses?
Common approaches include laddering across short and long maturities, building a barbell with near-term SSBs and long SGS holdings, or matching liabilities with appropriate tenors. Tailor allocations by time horizon and risk tolerance.
How should I allocate by time horizon, market conditions, and credit comfort?
For near-term needs, favor short-dated retail products and cash equivalents. For long-term income or liabilities, consider longer tenors. Adjust allocations based on yield curve shape, inflation outlook, and how much credit reassurance you need.
Can I get personalised advice or a discovery session to align these instruments with my goals?
Yes — contact a licensed adviser or your wealth manager for a tailored review. They can help map holdings to your cash flow needs, tax situation, and financial objectives. Use secure channels like official contact forms or verified messaging options.
