The latest round of SSB interest rates came as a surprise. While the short term interest rates went up by 0.06%, the long term interest rates actually fell by the same number.
Frankly, I was expecting both figures to go north after the last issuance, but I guess that was wishful thinking on my part. Still I think the latest issuance still meets the expectations of most investors and that the latest tranche will be over subscribed.
Comparing the with the last SSB issuance, it seems like most holders can still subscribe to the latest issuance, but with a time horizon of 6 years, before the bond begins to underperform the last issuance.
Here is an incomplete list of the past SSB issuances.
- July 2018 – S$250mil available