COUNTRY • SINGAPORE
Last Update: 28 Jun 2022 11:15 GMT+0

The Singapore 10Y Government Bond has a 3.031% yield.

10 Years vs 2 Years bond spread is 29.9 bp.
Yield Curve is flat in Long-Term vs Short-Term Maturities.

Central Bank Rate is 0.64% (last modification in June 2022).

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%.

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Residual
Maturity
Yield ZC Price Last
Change
Last Chg 1M Chg 6M Last Chg 1M Chg 6M
1 month 1.614% +32.8 bp +98.6 bp 28 Jun
3 months 2.021% +44.3 bp +149.5 bp 28 Jun
6 months 2.259% +50.9 bp +175.4 bp 28 Jun
1 year 2.260% +53.0 bp +179.4 bp 97.79 -0.52 % -1.76 % 28 Jun
2 years 2.732% +56.8 bp +189.0 bp 94.75 -1.11 % -3.65 % 28 Jun
5 years 2.903% +43.5 bp +160.2 bp 86.67 -2.09 % -7.54 % 28 Jun
10 years 3.031% +41.1 bp +143.2 bp 74.19 -3.91 % -13.06 % 28 Jun
15 years 3.134% +38.7 bp +126.9 bp 62.95 -5.48 % -16.94 % 28 Jun
20 years 3.166% +37.0 bp +117.6 bp 53.61 -6.94 % -20.50 % 28 Jun
30 years 2.962% +37.9 bp +95.2 bp 41.66 -10.47 % -24.31 % 28 Jun
Last Update: 28 Jun 2022 11:15 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).
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Residual
Maturity
Yield Spread vs Bond Spread vs
Central Bank
Rate (0.64%)
3 months 1 year 2 years 5 years 10 years
30 years 2.962% 232.2 bp
10 years 3.031%
239.1 bp
5 years 2.903%
226.3 bp
2 years 2.732%
209.2 bp
1 year 2.260%
162.0 bp
3 months 2.021%
138.1 bp
Focusing on 2 years Government Bond:
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2Y vs 1Y 47.2 bp Normal Convexity in Short-Term Maturities
5Y vs 2Y 17.1 bp Normal Convexity in Mid-Term vs Short-Term Maturities
10Y vs 2Y 29.9 bp Yield Curve is flat in Long-Term vs Short-Term Maturities

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 0.64%

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 3.031% 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.
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Singapore 10Y vs Current Spread Chg 1M Chg 6M
Japan 10Y 280.1 bp +40.4 bp +126.1 bp Compare
Germany 10Y 137.6 bp -26.8 bp -45.9 bp Compare
France 10Y 84.0 bp -28.6 bp -62.8 bp Compare
United Kingdom 10Y 54.4 bp -15.2 bp -13.2 bp Compare
Spain 10Y 28.9 bp -24.3 bp -80.0 bp Compare
China 10Y 17.4 bp +30.4 bp +139.5 bp Compare
United States 10Y -21.8 bp -9.5 bp -33.3 bp Compare
Canada 10Y -42.7 bp -25.7 bp -55.0 bp Compare
Italy 10Y -65.3 bp -37.7 bp -115.7 bp Compare
Australia 10Y -78.8 bp -15.9 bp -80.0 bp Compare
India 10Y -442.6 bp +30.4 bp +45.3 bp Compare
Russia 10Y -558.9 bp +130.1 bp +122.7 bp Compare
Brazil 10Y -975.1 bp +6.2 bp -64.3 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.
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Residual
Maturity
Yield Bond Price - with different Coupon Rates Fx
0% 1% 3% 5% 7% 9%
30 years 2.962% 41.66 61.35 100.75 140.14 179.54 218.93
20 years 3.166% 53.61 68.26 97.57 126.87 156.17 185.48
15 years 3.134% 62.95 74.77 98.42 122.06 145.71 169.35
10 years 3.031% 74.19 82.70 99.74 116.77 133.80 150.84
5 years 2.903% 86.67 91.26 100.45 109.63 118.82 128.00
2 years 2.732% 94.75 96.67 100.51 104.36 108.20 112.04
1 year 2.260% 97.79 98.77 100.72 102.68 104.64 106.59
Maturity Date 100.00 100.00 100.00 100.00 100.00 100.00

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