What Fundamentals Affect The Yield Of Bonds In The Singapore Market

3435 words - 14 pages

What
 fundamentals
 affect
 the
 yield
 of
 bonds
  (Singapore
 market)
 

 
 
 
 
 
 
 
 
  By:
 
  G8
  Lee
 Kang
 Wee
  Olivia
 Tan
  Daryle-­‐alexis
 Tan
  Ho
 Guoming
 
 


 
 
 
 
  FIIM
 FNCE
 102
  Professor
 Huang
 Sheng
 
 
 


 
 
 
 
 
 
 
 
 
 


 
 

Introduction
 

  As
  an
  international
  financial
  centre
  with
  about
  11%
  of
  GDP
  from
  financial
  services,
  we
  felt
  it
  would
  be
  interesting
...view middle of the document...

 
 
 
 

Inflation,
 Real
 Interest
 &
 Bond
 Yield
 


  Bond
 Yield
 Breakdown
 by
 Country
 of
 Risk
 (Refer
 to
 Appendix
 A)
  Majority
 of
 the
 bonds
 on
 the
 market
 are
 issued
 by
 companies
 based
 in
 Singapore,
 with
 627
 issuances.
 Hong
  Kong
 companies
 are
 2nd
 with
 36
 issuances.
 
 
  Bonds
 issued
 by
 Hong
 Kong
 companies
 saw
 a
 spike
 in
 yield
 during
 1997
 and
 1998,
 due
 to
 the
 Asian
 Financial
  Crisis
  that
  impacted
  Hong
  Kong
  companies
  the
  most
  out
  of
  the
  list
  of
  countries
  above.
  China
  saw
  a
  similar
  spike
  in
  2009.
  Bonds
  issued
  by
  Singapore
  companies
  have
  been
  the
  most
  stable,
  with
  yield
  levels
  staying
  around
 5%
 -­‐
 6%.
 While
 the
 yield
 is
 rather
 low,
 the
 low
 volatility
 makes
 it
 an
 attractive
 instrument
 for
 investors
  with
 low
 risk
 appetite.
 
 
  For
  bonds
  issued
  by
  companies
  from
  India,
  Malaysia
  and
  Thailand,
  little
  trading
  data
  is
  available
  which
  indicates
 their
 low
 liquidity.
 The
 2
 issuances
 of
 India
 bonds
 were
 only
 actively
 traded
 from
 2010-­‐2011,
 while
  there
 was
 no
 active
 trading
 for
 the
 bonds
 from
 Malaysia
 and
 Thailand
 companies.
 
  Bond
 Yield
 Breakdown
 by
 Currency
 (Refer
 to
 Appendix
 B)
  Until
  year
  2000
  where
  SGD-­‐denominated
  bonds
  entered
  the
  market,
  bonds
  denominated
  in
  USD
  largely
  dominated
  the
  Singapore
  bonds
  market.
  SGD-­‐denominated
  bonds
  are
  the
  current
  majority,
  with
  524
  issuances
 and
 USD-­‐denominated
 bonds
 being
 the
 2nd
 largest,
 with
 129
 issuances.
 
  USD-­‐denominated
  bond
  yield
  show
  the
  greatest
  fluctuation,
  possibly
  due
  to
  the
  huge
  impact
  of
  the
  USA
  economy
  on
  the
  world.
  Any
  happenings
  in
  the
  USA
  market
  are
  quickly
  reflected
  in
  the
  bond
  yields
  of
  USD
  bonds,
 such
 as
 the
 Financial
 Crisis
 in
 2007
 and
 2008.
 The
 USD-­‐denominated
 bond
 also
 accounts
 for
 majority
 of
  the
 fluctuations
 in
 the
 overall
 average
 bond
 yield
 of...

Other Papers Like What Fundamentals Affect The Yield Of Bonds In The Singapore Market

The Affect Of The Aggregate Demand

844 words - 4 pages The aggregate demand – aggregate supply model is used by economists to analyze the behavior of the macroeconomy in both the short run and the long run and aggregate demand in general refers to total spending by households, businesses, governments, and foreigners on domestically produced final goods and services. The aggregate demand curve (AD) describes the behavior of buyers of final goods and services in the aggregate. The aggregate demand

Sociology Of Chinese Migrant Women In Singapore

2483 words - 10 pages and its occupants; not enough has been done to investigate the experiences and conditions of migrants living in Singapore. This paper will focus on migrant Chinese women in Singapore, following their lived experiences and finding out what coping mechanism they employ to adapt to their new ‘home’. Migrant Chinese women are a particular interesting and relevant topic in Singapore. Most regional migration studies tend to center around female

New Laws Of Recruitment In Singapore

946 words - 4 pages According the newspaper of The Sun, the government of Singapore is set the new rules in the recruitment from August next year firms that want to hire foreign professionals must prove that they have tried to hire Singaporeans. New employment rules that could require firms here to explore more avenues to hire locals before foreigners are expected to be announced soon. Singapore till now does not have any laws to treat locals better than foreigners

Physician Affect The Cost Of Health Care For Insurance

270 words - 2 pages and prescription drugs. Researchers surveyed physicians in Ontario, who said health insurance paperwork costs them an average of $22,205 a year. If American physicians had administrative costs that matched those of the Ontario doctors, physicians could save as much as $27.6 billion a year. A major problem with American health care today is what policy experts call "perverse incentives." As shown in the figure above, hospital care and physician

How Do Variations In An Area’S Income Level Affect The Social, Economic And Environmental Impact Of A Cyclone?

1721 words - 7 pages How Do Variations in an Area’s Income Level Affect the Social, Economic and Environmental Impact of a Cyclone? All hurricanes may hold an element of danger, but some have many more catastrophic social, economic and environmental impacts, mainly due to an area’s income level. Hurricane Katrina and Cyclone Nargis were both very powerful tropical storms, but differed greatly in impacts in the two areas, due to economic reasons, as we will

How Did The Reforms Of The Last Decade Impact The Unemployment Rate In Germany? – A Strong Flexible Labor Market

1557 words - 7 pages and/or a drop in productivity/work intensity. GROUP E – MIMIBF1 A strong flexible labor market Mentioning the change in the productivity per hour has achieved to the buffering effect, which corresponds to a decrease in productivity and or work intensity. This is what happened it Germany during the rough times of the financial crisis. As a result, a decrease of 1% in productivity was created in manufacturing companies. In figures and

1. Perform A Quantitative Insourcing/Outsourcing Analysis Using The Data Provided. What Qualitative Issues Might Affect Your Final Decision? Identify Any Costs Or Issues That Are Not Part Of Your...

4548 words - 19 pages capacity to satisfy FlexCon's total piston requirements. Appendix 3 provides a worksheet to help in the insourcing/outsourcing cost analysis. CASE DISCUSSION 1. Perform a quantitative insourcing/outsourcing analysis using the data provided. What qualitative issues might affect your final decision? Identify any costs or issues that are not part of your analysis that might affect your decision. What is your recommendation regarding

What Were The Major Developments In The Evolution Of Mass Media During The 20th Century?

251 words - 2 pages What were the major developments in the evolution of mass media during the 20th century? During the 20th century the latest printing and color printer was development. Back in days newspapers were hand pressed or hand written. Americans were introduced to the internet and mobile phones. Cell phones has improved each year and with new and improved technology. And publishing technology and use of satellite vastly during the 20th century

What Were The Major Developments In The Evolution Of Mass Media During The Last Century

411 words - 2 pages Unified Communication Platforms Paulette Lewis IT/200 March 7, 2016 Ezam Mohammed The differences of Unified Communication Platforms, Features, Functionally Softphone: A softphone ( software telephone) is an application program that enables voice over internet protocol ( VOIP) telephone calls from computing devices in the enterprise, softphone

Factors That Affect The Study Habits Of First Year Students Of Dominican College San Juan City

993 words - 4 pages formulation of future medication of educational policies, curriculum and strategies toward a more effective delivery of learning. Future Researchers they may be able to use the result of this study in farther research similar to what the study is. Scope and Delimitation. This study only focuses on the factors that affect the study habits of first year students currently enrolled in Dominican College and is having the prescribe study load for

Affect Humans Have On The Biosphere

756 words - 4 pages what. And the effects can either be negative or positive. The top species on the biosphere are humans, and they affect the area in both good and bad ways. Humans are the only species that make their ecosystem adapt to them instead of the other way around. This is why they have the most effect on the biosphere. Some things humans have done that improves the condition of the biosphere would be selective breeding. By putting the best of the best

Related Essays

Fundamentals Of Effective Communication In The Workplace

400 words - 2 pages . In this case, my effective communication dealt with making sure my staff knew how to effectively communicate with all the different types of people they would run into through out the summer. Some examples we went over were; the kids of course and all the different ages, their parents or guardians, their superiors, and their trainees. My effective communication began with simply telling my staff how to talk with each type of person and what we

The Theory Of Fundamentals Essay

1158 words - 5 pages topics. The libertarian approach is in which people must exercise the free market organization associated with minimal government intervention. Libertarians are strong supporters of the free market capitalism, a social system in which people encourage the ownership and control of private businesses, with few regulatory bodies. Libertarianism has become a crucial part of the society which has led to increased number of privately owned

What Is Financial Market? Discuss The Components Of Financial Market?

1323 words - 6 pages A financial market is a market in which people and entities can trade financial securities, commodities, and other fungible items of value at low transaction costs and at prices that reflect supply and demand. Securities include stocks and bonds, and commodities include precious metals or agricultural goods. The definition may be termed as: "Financial Markets are generally known as a market where financial securities or/and assets are bought

Exchange Rate Policy At The Monetary Authority Of Singapore

1264 words - 6 pages presented the content in the form of a poem and follow-up questions. Each student was presented a written copy of the poem. Before reading the poem aloud to the class, Shelley said, “Today we’re gonna talk about water animals and their adaptations. To make sure you are following along I will pause. Then you all need to tell me what work I paused on.” Implications /Effects Shelley’s management style was congruent with the management style