Fixed Income Indices hit with steepest weekly decline in two years

It fell 1% last week.

Singapore's Fixed Income Indices (SFI) booked its largest weekly decline on record last week, with the index slipping 1% over the past five trading days.

According to the SGX, this is the SFI's second-largest weekly decline since its inception. The index's biggest weekly loss was recorded on the week of June 17, 2013, when it lost 1.29%.

The SFI has declined for three consecutive weeks, eroding gains thus far in 2015 and bringing the index into negative territory with a year-to-date loss of -0.20%.

Government bonds led last week’s decline, with the SFI Government Bond Index falling 1.38%. This is also the second largest weekly decline since inception.

Corporate bonds were also not spared, with the SFI Corporate Bond Index falling 0.42%.