(Bloomberg) -- The Monetary Authority of Singapore's reliance on exchange rate as the monetary policy tool to fight inflation is bringing rich dividends for bond investors.
Most Read from Bloomberg
Goldman Sachs Now Sees Fed Rates Peaking at 5% in March
Lula Narrowly Wins Brazil's Presidency in Historic Comeback
Seoul Crowd Crush Leaves Over 150 Dead at Halloween Festivities
Musk Posts Then Deletes Tweet Spreading Conspiracy Theory on Pelosi Attack
Putin Stirs European Worry on Home Appliance Imports Stripped for Arms
The city state's sovereign bonds have gained 1.9% in October, the most since April 2020 and are the third-best performers among the 24 markets that make up the FTSE Russell's World Government Bond Index. Yields on Singapore's two- and five-year notes have fallen faster than other tenors.
The MAS's fight against inflation has been supportive for local debt as the authority uses the exchange rate rather than interest rates. This is in stark contrast with other bond markets that have seen yields soar on higher policy rates. Limited supply of government securities has also augured well for Singapore's market unlike others such as the UK, where unfunded tax cuts sparked a meltdown in gilts.
Singapore's dollar has weakened more than 4% against the greenback this year, but the former's nominal effective exchange rate has gained just as much. The MAS tightened the currency policy early this month for a fourth time this year as core inflation quickened to the fastest since 2008.
While the city state's bonds could remain resilient in the rising yield environment globally, they may lag behind peers once overseas markets turn around, according to Winson Phoon, head of fixed-income research at Maybank Securities Pte in Singapore.
"Singapore government securities may continue to outperform if US Treasury yields rise further," he said. "Conversely, if US Treasury yields plunge on global risk-off, then the negative spreads between SGS and UST will narrow."
Most Read from Bloomberg Businessweek
When Netflix and HBO Turned on Each Other, They Forged a New Era of Television
Student Debt Headaches Return for Millions Despite Biden Relief
What the Alzheimer's Drug Breakthrough Means for Other Diseases
One Way to Boost Profits and Reduce Inequality? Turn Workers Into Owners
Flights to Asia Are Finally Back, But Russia Airspace Bans Cause Onerous Detours
©2022 Bloomberg L.P.
Knishm
(2022-11-04 09:26:18Z)buy rocaltrol pills rocaltrol 0.25mg cost rocaltrol 0.25mg sale
REPLYQctjmu
(2022-11-04 14:43:47Z)rocaltrol online calcitriol uk order rocaltrol 0.25mg without prescription
REPLYOwdiut
(2022-11-08 13:09:24Z)buy zithromax 500mg pill cheap prednisolone 40mg online cheap gabapentin without prescription
REPLYYwpedu
(2022-11-09 16:13:32Z)oral lasix lasix 40 mg daily where to buy ivermectin for humans
REPLYVajtug
(2022-11-10 19:20:55Z)order hydroxychloroquine 400mg buy plaquenil 200mg pill stromectol online canada
REPLYYsnsfm
(2022-11-12 02:20:06Z)lipitor 20mg ca sildenafil 150mg over the counter sildenafil citrate 50mg
REPLYVcnodv
(2022-11-13 05:04:45Z)lisinopril 2.5mg pills norvasc online buy buy cialis 20mg without prescription
REPLYNhitns
(2022-11-14 07:56:47Z)lopressor brand order metoprolol online methylprednisolone order
REPLYPuixgs
(2022-11-15 11:20:55Z)clomid 100mg tablet order clomid pills lyrica brand
REPLYZtrfar
(2022-11-16 17:21:29Z)triamcinolone 4mg pills ventolin inhalator price dapoxetine usa
REPLY토토사이트
(2022-11-18 02:11:22Z)The e-sports site is the leading sports site of the Toto site. The recent LOL game has become a hot topic for many Toto players as it is gaining a lot of popularity. Therefore, many storage facilities in Korea offer direct import to Toto.
REPLY안전놀이터
(2022-11-18 02:11:48Z)The e-sports playground is an important playground that drives the trend of the Toto site. The recent LOL game has become a hot topic for many Toto sports users as it has gained tremendous popularity. Therefore, most of the safety playgrounds in Korea launch Toto for real-time e-sports.
REPLY스포츠토토
(2022-11-18 02:12:17Z)E-sports playground is a major playground that leads the trend of Toto site. The recent LOL game has become a hot topic for many sports Toto users as it has gained huge popularity. Therefore, most safety playgrounds in Korea release real-time e-sports Toto.
REPLYXvlzxu
(2022-11-18 06:43:06Z)buy cytotec pills cheap generic levothyroxine cost synthroid
REPLYUxsuso
(2022-11-20 05:55:18Z)order acyclovir 400mg without prescription diltiazem canada zyloprim 100mg sale
REPLYGrsvvn
(2022-11-22 04:15:08Z)order rosuvastatin 20mg sale purchase tetracycline online cheap order tetracycline 500mg without prescription
REPLYIzrntx
(2022-11-24 00:26:28Z)order baclofen 10mg generic flexeril price viagra 100mg
REPLYMoqmic
(2022-11-26 06:47:25Z)brand cialis 5mg cheap cialis 40mg toradol us
REPLYVrfdar
(2022-11-28 13:55:31Z)colchicine drug plavix pills buy methotrexate 2.5mg generic
REPLYHfkacz
(2022-11-30 17:06:37Z)cozaar price topiramate 200mg oral order imitrex for sale
REPLYVsssjc
(2022-12-03 03:23:41Z)purchase avodart generic order tamsulosin pill ondansetron 8mg canada
REPLYLkcqpq
(2022-12-04 11:07:22Z)buy spironolactone 100mg diflucan 100mg for sale diflucan order online
REPLYPjdoaz
(2022-12-05 18:41:37Z)ampicillin 250mg canada erythromycin 500mg brand purchase erythromycin generic
REPLYCelvyb
(2022-12-07 01:40:08Z)sildenafil 50mg tablet buy tamoxifen 20mg online cheap methocarbamol
REPLYMnitzx
(2022-12-08 08:35:10Z)brand suhagra sildenafil 25mg price estradiol 1mg uk
REPLYFzrwjk
(2022-12-09 14:02:23Z)lamotrigine 200mg pills order retin online tretinoin order
REPLYFqqzbr
(2022-12-10 19:07:25Z)tadalis 20mg cost order tadacip without prescription order diclofenac
REPLYPywyal
(2022-12-11 19:05:32Z)cost accutane 40mg buy generic zithromax 500mg purchase zithromax online cheap
REPLYSupebf
(2022-12-12 00:28:16Z)indocin us trimox 500mg pills cheap trimox 250mg
REPLYWokaia
(2022-12-13 07:41:33Z)cialis 40mg uk Buy viagra now order viagra 100mg without prescription
REPLYJmrdsi
(2022-12-13 10:33:51Z)anastrozole 1mg drug order anastrozole 1 mg pill viagra price
REPLYEkcqyt
(2022-12-14 22:02:17Z)generique tadalafil 10mg tadalafil sans ordonnance en france viagra 25mg generique en pharmacie
REPLYMogzgb
(2022-12-15 01:31:35Z)buy prednisone pills brand name cialis overnight buy viagra 100mg generic
REPLYXcsqnq
(2022-12-16 01:36:50Z)cialis 5mg ohne rezept original tadalafil 5mg rezeptfrei sicher kaufen viagra 200mg kaufen ohne rezept
REPLYFruqxo
(2022-12-16 14:12:59Z)buy isotretinoin generic order stromectol 12mg generic ivermectin 500ml
REPLYZfvfbp
(2022-12-17 17:17:32Z)doxycycline us doxycycline 100mg price lasix cost
REPLYItvply
(2022-12-18 02:22:09Z)buy ramipril 5mg online buy azelastine sprayers astelin 10 ml without prescription
REPLYQvibwe
(2022-12-18 20:55:34Z)clonidine 0.1mg brand spiriva cheap order spiriva 9 mcg generic
REPLYCcgkjh
(2022-12-19 06:51:14Z)order buspirone online ditropan 2.5mg ca ditropan 5mg without prescription
REPLYJeevgp
(2022-12-20 00:52:03Z)buy terazosin online order hytrin 1mg for sale sulfasalazine online buy
REPLYJayvdd
(2022-12-20 11:44:44Z)alendronate without prescription fosamax 35mg drug pepcid price
REPLYSxajib
(2022-12-21 04:56:48Z)olmesartan medication brand olmesartan 10mg buy generic diamox 250 mg
REPLYRpybwi
(2022-12-21 16:37:04Z)buy tacrolimus 1mg generic trandate over the counter order ursodiol 150mg generic
REPLYErwjdm
(2022-12-22 09:26:40Z)generic imdur 40mg buy telmisartan 20mg online cheap micardis online buy
REPLYCsrnxa
(2022-12-23 02:35:12Z)oral bupropion buy generic seroquel order seroquel online cheap
REPLYUttduw
(2022-12-23 17:08:00Z)molnupiravir 200mg oral naproxen 500mg pill generic lansoprazole
REPLYXpssmz
(2022-12-24 07:06:14Z)order generic sertraline 50mg order kamagra 200mg pills sildenafil us
REPLYBiefbw
(2022-12-24 20:01:29Z)buy salbutamol generic generic protonix buy viagra 50mg for sale
REPLYYggihb
(2022-12-25 23:23:42Z)canadian cialis and healthcare pyridium online order symmetrel buy online
REPLYWsxbtq
(2022-12-26 15:39:47Z)buy revia online buy generic albendazole 400mg buy aripiprazole generic
REPLYBxtmin
(2022-12-27 05:00:01Z)order avlosulfon 100mg pills perindopril online aceon ca
REPLYFvdfua
(2022-12-27 19:41:50Z)provera ca brand provera 10mg cost cyproheptadine 4 mg
REPLYQmjrjh
(2022-12-28 17:41:46Z)buy provigil for sale order modafinil 100mg online ivermectin generic
REPLYTfmcyx
(2022-12-29 00:02:01Z)buy fluvoxamine online buy cymbalta generic cheap glipizide 5mg
REPLYAvpvfh
(2022-12-29 21:25:35Z)accutane 40mg cost order generic isotretinoin 20mg prednisone 10mg cost
REPLYVihfws
(2022-12-30 12:20:20Z)piracetam 800 mg drug sildenafil women viagra 50mg canada
REPLYRufsax
(2022-12-31 01:25:37Z)purchase azithromycin generic buy neurontin generic neurontin online buy
REPLYAlwjye
(2022-12-31 15:52:48Z)cialis tadalafil 40mg cialis online buy viagra 100mg canada
REPLYDmylcm
(2023-01-01 04:51:15Z)order furosemide generic order hydroxychloroquine 400mg sale order hydroxychloroquine 400mg generic
REPLYGopvoq
(2023-01-01 20:30:16Z)cialis for daily use order tadalafil 10mg online buy clomipramine 50mg without prescription
REPLYAxtzqg
(2023-01-02 08:20:23Z)order chloroquine 250mg without prescription buy chloroquine pill baricitinib generic
REPLYYgrdlw
(2023-01-03 00:23:52Z)order itraconazole 100mg online itraconazole drug order tinidazole 300mg without prescription
REPLYDgwuxv
(2023-01-03 12:36:06Z)purchase metformin sale glycomet 1000mg for sale oral tadalafil 5mg
REPLYLjjvxh
(2023-01-04 04:16:32Z)order zyprexa for sale buy valsartan 80mg without prescription diovan brand
REPLYIwmfqm
(2023-01-04 17:00:07Z)buy amlodipine 10mg coupon for cialis cialis 10mg for sale
REPLYOipfxo
(2023-01-05 08:11:56Z)buy clozapine 100mg pill decadron drug buy dexamethasone 0,0,5 mg pills
REPLYRrjyid
(2023-01-05 21:24:44Z)buy viagra tablets viagra 50mg canada order lisinopril 10mg online
REPLYJuggbh
(2023-01-07 01:09:02Z)omeprazole 20mg drug online assignment help card games online
REPLYVbsawa
(2023-01-08 01:41:14Z)order zyvox 600 mg pills linezolid over the counter best online poker sites
REPLYUjdltv
(2023-01-08 07:27:50Z)purchase metoprolol for sale atenolol 50mg oral vardenafil 20mg generic
REPLYLeetsu
(2023-01-09 06:40:54Z)college essay writing help best essay writers online real casino games
REPLYVfehdv
(2023-01-09 20:09:40Z)vardenafil 10mg oral medrol 8mg without a doctor prescription medrol 8mg tablets
REPLYQuryhk
(2023-01-10 21:58:05Z)paper writing websites help with assignments uk sildenafil 150 mg
REPLYMsqbep
(2023-01-11 01:34:58Z)clomiphene 50mg brand order clomiphene sale empire city casino online
REPLYWncnqn
(2023-01-12 02:56:32Z)buy tadalafil sildenafil pills 200mg order viagra for sale
REPLYYkqkhz
(2023-01-12 06:49:34Z)order aristocort 4mg online order clarinex pill clarinex pills
REPLYشركة عزل اسطح بالقطيف
(2023-01-12 12:32:08Z)great work
REPLYthank you
visit my website
شركة عزل اسطح بالقطيف
Zwuegc
(2023-01-13 11:20:28Z)dapoxetine for sale online cheap synthroid 75mcg buy synthroid tablets
REPLYTohydu
(2023-01-13 12:54:11Z)tadalafil 20mg without prescription sildenafil overnight shipping usa purchasing viagra on the internet
REPLYشركة عزل اسطح بالقطيف
(2023-01-14 09:24:15Z)great work
REPLYthank you
visit my website
شركة عزل اسطح بالقطيف
Mvtqdw
(2023-01-14 17:10:27Z)order xenical 60mg without prescription buy xenical 60mg sale order zovirax for sale
REPLYBltxij
(2023-01-15 06:55:42Z)cialis 10mg pills order clopidogrel 75mg sale plavix 150mg for sale
REPLYLklwee
(2023-01-15 21:43:35Z)buy zyloprim 300mg generic buy zyloprim pills buy generic ezetimibe 10mg
REPLYBvptkf
(2023-01-16 11:27:36Z)buy methotrexate 2.5mg pill coumadin 5mg ca reglan 10mg pill
REPLYIujxvg
(2023-01-17 02:08:34Z)motilium order online tetracycline 500mg ca cyclobenzaprine 15mg generic
REPLYNfcrqv
(2023-01-17 16:08:54Z)buy losartan 50mg esomeprazole 40mg generic order topiramate 200mg online
REPLYLxhfpi
(2023-01-18 20:58:44Z)brand imitrex 25mg imitrex 50mg us avodart online order
REPLYJeisvw
(2023-01-19 12:20:20Z)colchicine us online blackjack game wind creek casino online play
REPLYLqohbk
(2023-01-20 01:54:42Z)zantac 150mg cost celecoxib 200mg canada buy celecoxib 100mg sale
REPLYXenjsj
(2023-01-20 17:17:00Z)online casino bonus live dealer blackjack that roulette
REPLYIippqw
(2023-01-21 22:29:51Z)buy tamsulosin 0.2mg generic purchase flomax oral aldactone 25mg
REPLYAzzaqm
(2023-01-22 07:10:28Z)buy cialis online safely tadalafil 5mg ca cipro 500mg ca
REPLYAgijqh
(2023-01-23 02:51:19Z)buy zocor for sale propecia 1mg uk propecia buy online
REPLYGzaury
(2023-01-23 11:58:17Z)cost flagyl metronidazole 400mg for sale trimethoprim us
REPLYBusveb
(2023-01-24 07:40:37Z)buy fluconazole for sale viagra brand viagra 100mg over the counter
REPLYXfjxst
(2023-01-25 09:03:24Z)cialis 5mg without prescription buy generic sildenafil 50mg viagra 50mg canada
REPLYNeugbt
(2023-01-25 18:57:47Z)order sildenafil 50mg online cheap buy sildenafil pills cialis for women
REPLYTrwbnd
(2023-01-26 19:40:46Z)order cefuroxime order methocarbamol 500mg generic buy generic robaxin 500mg
REPLYYvwrgw
(2023-01-27 08:41:36Z)best casino online san manuel casino online oral cialis 20mg
REPLYSmnekf
(2023-01-28 00:19:29Z)desyrel 100mg price cost sildenafil 100mg buy sildenafil 50mg
REPLYKpuqhl
(2023-01-28 21:54:15Z)my childhood essay writing write college essays for money buy liquid ivermectin
REPLYSlggrj
(2023-01-29 05:10:39Z)sildenafil pharmacy order lamictal 200mg for sale order lamictal without prescription
REPLYSzqgya
(2023-01-30 09:47:22Z)buy generic deltasone 20mg deltasone online order amoxicillin 250mg us
REPLYVtdkhj
(2023-01-30 11:37:06Z)sildenafil 100mg tablet viagra 50mg brand order cialis online cheap
REPLYLgjjvs
(2023-01-31 19:02:36Z)free slot play erection pills viagra online tadalafil 20mg us
REPLYEblyyq
(2023-02-02 09:27:01Z)money poker online online casino real money no deposit provigil 200mg ca
REPLY