$1.1bn 20-year SGS bond re-opening fetched yield of 3.26%
The SGS bond had a 9bp tail to cut off at 3.35%, and a bid-cover ratio of 1.9x.
According to OCBC, the intensification of the Middle East unrest concerns in recent sessions had contributed to a flight to quality, and SGD swap rates and SGS bond yields had also fallen in tandem with risk appetite.
With the stabilisation in global risk appetite, SGS market may concentrate on digesting the $1.1b 20-year SGS bond
auction.