Ending a streak of oversubscribed Singapore Savings Bonds (SSB), February 2023’s SSB (GX23020X) sees only S$477.1 million applied out of the S$700 million offered. This trend was barely hanging on last month with an oversubscription of just 1% above the amount offered.
No ceiling amount – first time since May 2022
For the first time in months, there is no ceiling amount. Aside from a total cap of S$200,000 cap across all Singapore Savings Bonds per individual, applicants would be allotted whatever amount they applied for.
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Rates have not been attractive in recent months
Given how t-bills have been offering around 4% p.a. and fixed deposits as high as 4.28% p.a. (or even a mythical 4.4% which is now gone), the relative unpopularity of this month’s SSB is to be expected....