SINGAPORE BOND MARKET MECHANICS
Repo & Collateral
SGS Repo Specialness
Why a particular Singapore Government Security can become unusually valuable to borrow.
MECHANISM
A specific SGS line can trade 'special' in repo when demand to obtain that security exceeds its readily available supply. Benchmark status, short positions and settlement needs can contribute.
WHAT TO MONITOR
Watch issue-specific repo conditions alongside cash-bond richness and benchmark status.
Primary-source starting points: Monetary Authority of Singapore — Bonds and Bills and Singapore Ministry of Finance — Assets and Liabilities. Source availability varies by mechanism.
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