Dear readers, it was not surprising to read that the average 10-year yield of the latest tranche of the Singapore Savings Bonds, SBNOV24 GX24110N has declined to 2.56% per annum.
The cut-off yield (interest rate) of the latest 6-month Singapore Treasury Bill (T Bill), BS24119S which closed was 2.97% per annum and this was just 0.41% per annum above the latest Singapore Savings Bonds.
With declining interest rates, it is expected that the gap between the longer-term Singapore Savings Bonds and the shorter-term Treasury Bills has narrowed to such.