SINGAPORE BOND MARKET MECHANICS
Singapore Savings Bonds
SSB Step-Up Curve Construction
How the Singapore Savings Bond coupon path is constructed from SGS market yields.
MECHANISM
Savings Bond coupons are designed so that average compounded returns over different holding periods are linked to corresponding SGS yields while preserving the programme's step-up feature.
WHAT TO MONITOR
Watch the reference SGS curve used for a new SSB issue and how curve shape affects the resulting coupon schedule.
Primary-source starting points: Monetary Authority of Singapore — Bonds and Bills and Singapore Ministry of Finance — Assets and Liabilities. Source availability varies by mechanism.
← ALL SINGAPORE MECHANICS