Singapore dollar û the safe haven currency for bonds

Clifford Lee, head of fixed income at DBS, explains why Temasek's S$1 billion sale of Singapore dollar-denominated 10-year bonds will help the market attract more high-grade issuance.

Singapore dollar û the safe haven currency for bonds
Clifford Lee

Temasek's February sale of S$1 billion worth of bonds may turn out to be the benchmark issue for investment-grade issuers looking to access the Singapore local currency market. This is because it proved to investors and issuers that the market could match size and tenor of bonds sold in G3 currencies, but at a cheaper price. The market last facilitated a deal of this size back in May 2008, when DBS self-led the sale of its own...

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