SINGAPORE BOND MARKET MECHANICS
Bond Mechanics
SGS Yield-to-Price Conversion
How changes in SGS yield translate into bond-price changes.
MECHANISM
Yield and price move inversely, but the size of the price move depends on coupon, maturity and cash-flow timing. MAS publishes both closing prices and yields for SGS issues, allowing the relationship to be observed directly.
WHAT TO MONITOR
Compare duration and remaining maturity before interpreting equal yield moves across different SGS bonds.
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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