COUNTRY •
SINGAPORE
Last Update: 2 Oct 2023 8:15 GMT+0
The Singapore 10Y Government Bond has a 3.400% yield.
10 Years vs 2 Years bond spread is -35.5 bp. Yield Curve is inverted in Long-Term vs Short-Term Maturities.
Central Bank Rate is 3.82% (last modification in October 2023).
The Singapore credit rating is AAA, according to Standard & Poor's agency.
Current 5-Years Credit Default Swap quotation is 25.56 and implied probability of default is 0.43%.
If data are not all visible, swipe table left
| Residual Maturity |
Yield | ZC Price | Last Change |
||||||
|---|---|---|---|---|---|---|---|---|---|
| Last | Chg 1M | Chg 6M | Last | Chg 1M | Chg 6M | ||||
| 1 month | 4.102% | -6.9 bp | +10.6 bp | 02 Oct | |||||
| 3 months | 4.080% | -2.8 bp | +9.5 bp | 02 Oct | |||||
| 6 months | 3.984% | +27.6 bp | +17.2 bp | 02 Oct | |||||
| 1 year | 3.818% | +20.7 bp | +26.2 bp | 96.32 | -0.20 % | -0.26 % | 02 Oct | ||
| 2 years | 3.755% | +14.7 bp | +63.3 bp | 92.89 | -0.29 % | -1.22 % | 02 Oct | ||
| 5 years | 3.341% | +23.2 bp | +39.4 bp | 84.85 | -1.12 % | -1.88 % | 02 Oct | ||
| 10 years | 3.400% | +25.3 bp | +45.1 bp | 71.58 | -2.43 % | -4.28 % | 02 Oct | ||
| 15 years | 3.284% | +16.2 bp | +45.4 bp | 61.59 | -2.33 % | -6.40 % | 02 Oct | ||
| 20 years | 3.220% | +11.9 bp | +47.9 bp | 53.05 | -2.28 % | -8.90 % | 02 Oct | ||
| 30 years | 3.082% | +1.3 bp | +57.2 bp | 40.23 | -0.37 % | -15.36 % | 02 Oct | ||
| 50 years | 3.030% | +0.2 bp | +51.7 bp | 22.48 | -0.09 % | -22.24 % | 02 Oct | ||
Last Update: 2 Oct 2023 8:15 GMT+0
Singapore Yield Curve Analysis
Normally, longer-duration interest rates are higher than short-duration. So, the yield curve normally slopes upward as duration increases.
For this reason, the spread (i.e. the yield difference) between a longer and a shorter bond should be positive.
If not, the yield curve can be flat or inverted.
The curve convexity is measured considering some key bond durations (usually 2 years and 10 years, but also other maturities).
The curve convexity is measured considering some key bond durations (usually 2 years and 10 years, but also other maturities).
If data are not all visible, swipe table left
| Residual Maturity |
Yield | Spread vs Bond | Spread vs Central Bank Rate (3.82%) |
|||||
|---|---|---|---|---|---|---|---|---|
| 3 months | 1 year | 2 years | 5 years | 10 years | ||||
| 30 years | 3.082% | -73.8 bp | ||||||
| 10 years | 3.400% | -42.0 bp | ||||||
| 5 years | 3.341% | -47.9 bp | ||||||
| 2 years | 3.755% | -6.5 bp | ||||||
| 1 year | 3.818% | -0.2 bp | ||||||
| 3 months | 4.080% | 26.0 bp | ||||||
Focusing on 2 years Government Bond:
If data are not all visible, swipe table left
| 2Y vs 1Y | -6.3 bp | Yield Curve is inverted in Short-Term Maturities | ||
| 5Y vs 2Y | -41.4 bp | Yield Curve is inverted in Mid-Term vs Short-Term Maturities | ||
| 10Y vs 2Y | -35.5 bp | Yield Curve is inverted in Long-Term vs Short-Term Maturities |
Readings that may interest you
Singapore Credit Ratings
A credit rating is an assessment of the creditworthiness of a borrower (in general terms or with respect to a particular debt or financial obligation).
For a deeper analysis of credit ratings, click here
Singapore Credit Ratings History
| Rating Agency | Rating | Outlook |
|---|---|---|
| Standard & Poor's |
AAA
|
- |
| Moody's Investors Service |
Aaa
|
- |
| Fitch Ratings |
AAA
|
- |
| DBRS |
AAA
|
- |
Singapore Interest Rates
A bank rate is the interest rate at which a nation's central bank lends money to domestic banks, often in the form of very short-term loans.
| Interest Rates | Value | |
|---|---|---|
| Central Bank Rate | 3.82% |
Singapore Credit Default Swaps
The term credit default swap (CDS) refers to a financial derivative that allows an investor to swap or offset their credit risk with that of another investor. To swap the risk of default, the lender buys a CDS from another investor who agrees to reimburse the lender in the case the borrower defaults.
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| Credit Default Swap | CDS Value | Var % 1W | Var % 1M | Var % 1Y | Implied PD(*) | |
|---|---|---|---|---|---|---|
| 5 Years CDS | 25.56 | +40.13 % | +38.31 % | +18.39 % | 0.43 % |
(*) Implied probability of default, calculated on the hypothesis of a 40% recovery rate.
Singapore 10Y Bond Yield Spread
The Singapore 10Y Government Bond has a 3.400% yield. Click on Spread value for the historical serie.
A positive spread, marked by
, means that the 10Y Bond Yield is higher than the corresponding foreign bond. Instead, a negative spread is marked by a green circle.
Click on the values in "Current Spread" column, for the historical series of the spread.
Click on the "Compare" button, for a report with the full comparison between the two countries, with all the available data.
If data are not all visible, swipe table left
| Singapore 10Y vs | Current Spread | Chg 1M | Chg 6M | ||
|---|---|---|---|---|---|
| Japan 10Y | 264.0 bp | +11.4 bp | +2.0 bp | Compare | |
| China 10Y | 69.4 bp | +17.0 bp | +61.9 bp | Compare | |
| Germany 10Y | 51.4 bp | -9.3 bp | -14.9 bp | Compare | |
| France 10Y | -4.2 bp | -11.3 bp | -20.7 bp | Compare | |
| Spain 10Y | -56.3 bp | -14.6 bp | -21.7 bp | Compare | |
| Canada 10Y | -66.9 bp | -21.8 bp | -70.1 bp | Compare | |
| Australia 10Y | -114.4 bp | -24.9 bp | -85.6 bp | Compare | |
| United Kingdom 10Y | -116.8 bp | +8.7 bp | -65.2 bp | Compare | |
| United States 10Y | -126.5 bp | -23.1 bp | -74.1 bp | Compare | |
| Italy 10Y | -138.6 bp | -30.2 bp | -25.8 bp | Compare | |
| India 10Y | -381.0 bp | +21.8 bp | +55.6 bp | Compare | |
| Brazil 10Y | -831.1 bp | -30.6 bp | +164.0 bp | Compare | |
| Russia 10Y | -965.0 bp | -72.7 bp | -229.9 bp | Compare |
Singapore Government Bonds Prices
Price Simulation: bonds with a face value of 100, with different coupon rates. The highlighted column refers to the zero coupon bond.
Click on
for a forecast of the yield.
If data are not all visible, swipe table left
| Residual Maturity |
Yield | Bond Price - with different Coupon Rates | Fx | ||||||
|---|---|---|---|---|---|---|---|---|---|
| 0% | 1% | 3% | 5% | 7% | 9% | ||||
| 50 years | 3.030% | 22.48 | 48.06 | 99.23 | 150.40 | 201.57 | 252.74 | ||
| 30 years | 3.082% | 40.23 | 59.62 | 98.41 | 137.20 | 175.99 | 214.78 | ||
| 20 years | 3.220% | 53.05 | 67.63 | 96.79 | 125.95 | 155.11 | 184.27 | ||
| 15 years | 3.284% | 61.59 | 73.29 | 96.68 | 120.07 | 143.46 | 166.86 | ||
| 10 years | 3.400% | 71.58 | 79.94 | 96.66 | 113.37 | 130.09 | 146.81 | ||
| 5 years | 3.341% | 84.85 | 89.38 | 98.45 | 107.52 | 116.60 | 125.67 | ||
| 2 years | 3.755% | 92.89 | 94.79 | 98.57 | 102.36 | 106.14 | 109.93 | ||
| 1 year | 3.818% | 96.32 | 97.29 | 99.21 | 101.14 | 103.06 | 104.99 | ||
| Maturity Date | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | |||