Dear readers, the Singapore September Savings Bonds (SBSEP24 GX24090E) is open for application and will close on 27 Aug 24.
The average 10-year yield of SBSep24 Singapore Savings bonds is 3.10% per annum and this yield has decline starting from the highest average 10-year yield of 3.33% for this year from the Jun 24 Singapore Savings Bonds, as we can note from the figures below.
Jan-24: 3.07% per annum
Feb 24: 2.81% per annum
Mar 24: 2.88% per annum
Apr 24: 3.04% per annum
May 24: 3.06% per annum
Jun 24: 3.33% per annum
Jul 24: 3.3% per annum
Aug 24: 3.22% per annum
Sep 24: 3.10% per annum
We are actually quite close to the average 10-year yield of the Jan-24 bond of 3.07% per annum.
I would think that savers are pragmatic enough to know that high interest rates are not always a given and hence it is always important to make hay while the sun shines.
The current interest rates expected on fixed accounts, T-bills, Singapore Savings Bonds are on average 3% per annum and going forward, the average 10-year yield of Singapore Savings Bonds should come below 3% mark when the Federal Reserves start to cut interest rates.