Singapore’s Treasury Bills are a hot asset with record yields

Singapore’s Treasury Bills are a hot asset with record yields

9 days ago

SINGAPORE: Singapore’s Treasury bills are seeing historically high demand, with an auction Thursday expected to see fierce bidding from money-market funds to retirees.

The city-state will sell S$4.8 billion (US$3.5 billion) of six-month T-bills after an offering two weeks ago drew a record S$14.2 billion worth of bids. The securities yielded 4.01% on Wednesday, near an all-time high of 4.14% reached on Nov 10.

The demand reflects how soaring inflation is driving investors to look for ways to protect their capital, while other assets continue to come under pressure from higher rates. With growing expectations that central banks may be slowing hikes, funds are also looking to lock in higher yields.

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