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2023 0utlook: Singapore dollar bonds

SGD bonds are attractive from a fundamental, valuation and technical viewpoint.
01 February 2023
    Articles
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    Key takeaways:

    • We believe that a better environment for fixed income and the resilient macroeconomic situation in Singapore provide a much improved backdrop for Singapore dollar (SGD) bonds this year
    • The SGD, a proxy for quickly gaining exposure to major Asia Pacific and developed market currencies, is poised to strengthen modestly in 2023
    • The SGD bond market is seeing attractive yields and is supported by the limited bond supply. The maturing global monetary tightening cycle further adds to the appeal of SGD bonds
    • The HSBC GIF Singapore Dollar Income Bond fund is not a traditional, pure SGD bond product; rather, it has significant flexibility to invest in Asia USD bonds for yield enhancement and/or tactical opportunities, resulting in a well-diversified, quality portfolio

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