In what could be the last issue (in a long time) that would be getting a yield of 3% or more, retail investors came for this SSB January 2024 issue which resulted in an under-subscription due to the lukewarm response from yield hunters.
$867.5 million (0.8x) worth of application was received out of the total $1.1 billion available
If you have noticed, the total amount offered for this issue of SSB was record-breaking at $1.1 billion ($100 million higher than the last two months), and it proved to be enough for the demand.
Historically, the SSB max. offered amount has always been $1 billion, and they were for the issues of December 2022 (3.47%), November 2023 (3.32%) and December 2023 (3.40%).
By offering an appealing yield of a little over 3% for ten years, Singapore Savings Bonds attracted tonnes of investors who managed to put more cash into this issue.
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