Dear readers, the application for Singapore Feb 24 Singapore Savings Bonds (SB Feb 24 GX24020T) will open next month. So what will be the expected average 10-year interest rate of the Singapore February 2024 Singapore Savings Bonds?
Before we get into the details of the expected interest rate for Singapore Feb 24 Singapore Savings Bonds, let us take a look at the average 10-year interest rates of the recent Singapore Savings Bonds as follows.
Sep-23: 3.06% per annum
Oct-23: 3.16% per annum
Nov-23: 3.32% per annum
Dec-23: 3.40% per annum
Jan-24: 3.07% per annum
Looking at the above statistics, all seems good for interested parties for Singapore Savings Bonds as the average 10-year interest rates has keep rising from the Sep 23 tranche to Dec 23 tranche. However, the average 10-year interest rates of recent Singapore Savings Bonds seem to have then peaked at the Dec 23 tranche as the Jan 24 tranche saw quite a decline of average 10-year interest rate from 3.40% to 3.07% per annum.
And I believe the average 10-year interest rate will only decline for the Feb 24 Singapore Savings Bonds. The US Federal Reserves has already signalled a halt in interest rate hike in its middle last week. Many analysts are predicting a start of the decline in the interest rates from next year onwards.
With the above backdrop in mind, my projection is for a 2.90% to 3% per annum average 10-year interest rate for the February 2024 Singapore Savings Bonds and with further potential reductions in interest rates for subsequent Singapore Savings Bonds tranche.
That is the reason why I have always advocated savers to lock in high interest rates for as long as possible where there are opportunities to do so!
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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