{"id":1726,"date":"2023-07-05T10:36:07","date_gmt":"2023-07-05T02:36:07","guid":{"rendered":"https:\/\/www.wealthfor.us\/article\/?p=1726"},"modified":"2023-08-14T13:06:44","modified_gmt":"2023-08-14T05:06:44","slug":"singapore-savings-bond-ssb-aug-2023-at-2-99-interest-rate-rising","status":"publish","type":"post","link":"https:\/\/www.wealthfor.us\/article\/singapore-savings-bond-ssb-aug-2023-at-2-99-interest-rate-rising\/","title":{"rendered":"Singapore Savings Bond SSB Aug 2023 at 2.99%: Interest Rate Rising"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">MAS has <\/span><a href=\"https:\/\/www.mas.gov.sg\/bonds-and-bills\/auctions-and-issuance-calendar\/issuance-singapore-savings-bond?issue_code=GX23080N&amp;issue_date=2023-08-01\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">released<\/span><\/a><span style=\"font-weight: 400;\"> the latest Singapore Savings Bond SSB Aug 2023 offering (SBAUG23 GX23080N). <\/span><b>The 10-year average is 2.99%, with the first-year rate at 2.97%<\/b><span style=\"font-weight: 400;\">. It is very close to 3% for the whole duration of the SSB, yay! This month&#8217;s offering sees a jump in the first-year and 10-year average interest rates. This offering looks attractive. Should we consider applying for this month\u2019s SSB?<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2>Key Takeaways<\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">SSB Aug 2023 rates are much higher than last month\u2019s offering. The rates are roughly flat, close to 3% for ten years.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Long-term investors looking for a safe place to park their cash may consider this month&#8217;s SSB. With the interest rate projected to decline next year, this can be a good chance to lock the higher rates.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">This month\u2019s SSB can be a good opportunity for investors looking to recycle their older SSBs yielding less than 2.99%.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">To enjoy higher short-term rates, short-term investors may consider alternatives such as T-Bills, high-yield savings accounts, or cash management accounts.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2>Looking at SSB Aug 2023 Offering<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-1727\" src=\"https:\/\/www.wealthfor.us\/article\/wp-content\/uploads\/2023\/07\/SSB-AUG-2023-1024x1024.png\" alt=\"SSB AUG 2023\" width=\"750\" height=\"750\" srcset=\"https:\/\/cdn.wealthfor.us\/uploads\/2023\/07\/SSB-AUG-2023-1024x1024.png 1024w, https:\/\/cdn.wealthfor.us\/uploads\/2023\/07\/SSB-AUG-2023-300x300.png 300w, https:\/\/cdn.wealthfor.us\/uploads\/2023\/07\/SSB-AUG-2023-150x150.png 150w, https:\/\/cdn.wealthfor.us\/uploads\/2023\/07\/SSB-AUG-2023-768x768.png 768w, https:\/\/cdn.wealthfor.us\/uploads\/2023\/07\/SSB-AUG-2023.png 1080w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Generally, this month\u2019s offering is more attractive than last month&#8217;s <\/span><a href=\"https:\/\/www.wealthfor.us\/article\/singapore-savings-bond-ssb-july-2023-at-2-82-is-it-still-worth-it\/\"><span style=\"font-weight: 400;\">SSB July 2023<\/span><\/a><span style=\"font-weight: 400;\"> offering, with higher first-year and ten-year average rates. At close to 3%, this offering is one of the higher SSB rates in recent times.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">SSB has seen low demand in the past recent offerings. With the higher rates, it would be interesting to see if the demand will climb again as investors try to lock in these higher rates for the next ten years.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you are interested in applying for this SSB Aug 2023, please follow the following application timeline:<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1728\" src=\"https:\/\/www.wealthfor.us\/article\/wp-content\/uploads\/2023\/07\/SSB-Aug-2023-Application-Timeline.png\" alt=\"SSB Aug 2023 Application Timeline\" width=\"792\" height=\"212\" srcset=\"https:\/\/cdn.wealthfor.us\/uploads\/2023\/07\/SSB-Aug-2023-Application-Timeline.png 792w, https:\/\/cdn.wealthfor.us\/uploads\/2023\/07\/SSB-Aug-2023-Application-Timeline-300x80.png 300w, https:\/\/cdn.wealthfor.us\/uploads\/2023\/07\/SSB-Aug-2023-Application-Timeline-768x206.png 768w\" sizes=\"auto, (max-width: 792px) 100vw, 792px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">You may follow our step-by-step guide on <\/span><a href=\"https:\/\/www.wealthfor.us\/article\/how-to-buy-ssb\/\"><span style=\"font-weight: 400;\">how to buy SSB<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2>Is SSB Still Attractive?<\/h2>\n<p><span style=\"font-weight: 400;\">In our opinion, the main attraction of SSB is its flexibility. Investors can withdraw partially or in full at any month without penalty. They even earn the accrued interest. This free withdrawal feature allows investors to recycle older SSBs yielding lower into the newer SSB should the interest rate rise. SSB may be a good choice if you are a conservative investor seeking capital preservation.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">For Long Term Investors<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">This SSB Aug 2023 offers higher rates for the first year and ten-year average, but where are we historically?<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1729\" src=\"https:\/\/www.wealthfor.us\/article\/wp-content\/uploads\/2023\/07\/SSB-Historical-Interest-Rates-Aug-2023.jpg\" alt=\"SSB Historical Interest Rates Aug 2023\" width=\"940\" height=\"788\" srcset=\"https:\/\/cdn.wealthfor.us\/uploads\/2023\/07\/SSB-Historical-Interest-Rates-Aug-2023.jpg 940w, https:\/\/cdn.wealthfor.us\/uploads\/2023\/07\/SSB-Historical-Interest-Rates-Aug-2023-300x251.jpg 300w, https:\/\/cdn.wealthfor.us\/uploads\/2023\/07\/SSB-Historical-Interest-Rates-Aug-2023-768x644.jpg 768w\" sizes=\"auto, (max-width: 940px) 100vw, 940px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">As we can see from the chart, the <a href=\"https:\/\/www.wealthfor.us\/article\/ssb-interest-rate-history\/\">SSB interest rates<\/a> have risen recently. With the current offering hovering around 3%, we are close to the recent high in November 2022. <\/span><b>The current rates are also one of the highest in recent times<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the market and the Fed expecting a rate cut starting next year, this may be your chance to lock in the higher rates for the next ten years.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1730\" src=\"https:\/\/www.wealthfor.us\/article\/wp-content\/uploads\/2023\/07\/Fed-rate-expectation-Jul-2023.png\" alt=\"Fed rate expectation Jul 2023\" width=\"616\" height=\"305\" srcset=\"https:\/\/cdn.wealthfor.us\/uploads\/2023\/07\/Fed-rate-expectation-Jul-2023.png 616w, https:\/\/cdn.wealthfor.us\/uploads\/2023\/07\/Fed-rate-expectation-Jul-2023-300x149.png 300w\" sizes=\"auto, (max-width: 616px) 100vw, 616px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">The market expects an additional rate hike this year and the first rate cut toward the middle of next year. From the Fed\u2019s latest FOMC, they expect two further hikes this year before starting rate cuts next year. Nobody knows with certainty how many more rate hikes we will get, but we can see that barring any black swan event, we are <\/span><b>likely reaching the tail end of this rate hike cycle<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">What do you think? Do you agree with the market and the Fed? Maybe it\u2019s a good idea to consider locking the higher rates now?<\/span><\/p>\n<h4><strong>Recycle Older SSBs<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">We have seen low demand for SSB in the past several offerings. We will likely see the demand still muted this month, with most investors able to get their allocation. If you have older SSBs yielding much lower than 2.99%, this can be your chance to recycle them. You just need to pay the admin fee of $2 for the withdrawal and another $2 for the new application.<\/span><\/p>\n<h4><strong>Equities Bull Market?<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">For long-term investors with a <\/span><b>higher risk appetite<\/b><span style=\"font-weight: 400;\">, you may consider looking at the equities market for higher growth potential. The <\/span><a href=\"https:\/\/www.wealthfor.us\/article\/stock-market-rebound-what-can-we-observe-and-learn\/\"><span style=\"font-weight: 400;\">US stock market has recently rebounded<\/span><\/a><span style=\"font-weight: 400;\"> and entered a bull market (defined by rallying 20% above the low). Please note that investing in the equities market has a different risk profile than investing in government bonds. Ensure that you understand what you are investing in. As always, please exercise prudence when investing.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Short-Term Investors: Looking at Other Alternatives<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">SSB is a long-term 10-year government bond. In a normal economic environment, the longer the bond duration, the higher the interest rates are. However, we are in a unique environment with the bond yield curve inverted.<\/span><\/p>\n<figure id=\"attachment_1731\" aria-describedby=\"caption-attachment-1731\" style=\"width: 539px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1731\" src=\"https:\/\/www.wealthfor.us\/article\/wp-content\/uploads\/2023\/07\/Singapore-Bond-Yield-Curve-Jul-2023.png\" alt=\"Singapore Bond Yield Curve Jul 2023\" width=\"539\" height=\"451\" srcset=\"https:\/\/cdn.wealthfor.us\/uploads\/2023\/07\/Singapore-Bond-Yield-Curve-Jul-2023.png 539w, https:\/\/cdn.wealthfor.us\/uploads\/2023\/07\/Singapore-Bond-Yield-Curve-Jul-2023-300x251.png 300w\" sizes=\"auto, (max-width: 539px) 100vw, 539px\" \/><figcaption id=\"caption-attachment-1731\" class=\"wp-caption-text\">The chart shows the interest rate of Singapore government bonds for various maturities. The shorter-term bond yields higher than the longer-term bonds. This phenomenon is called an inverted yield curve. Source: <a href=\"http:\/\/www.worldgovernmentbonds.com\/country\/singapore\/\" target=\"_blank\" rel=\"noopener\">worldgovernmentbonds.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Because of the inverted yield curve, short-term investors can benefit from this situation by investing in shorter-term bond maturities, such as 6-month or 1-year T-Bills. The <\/span><a href=\"https:\/\/www.wealthfor.us\/article\/latest-t-bill-27-jun-2023-bs23112n-yield-jumped-to-3-89\/\"><span style=\"font-weight: 400;\">recent 6-month T-Bill auctions<\/span><\/a><span style=\"font-weight: 400;\"> yielded around 3.8-3.9%. You may also consider high-yield savings or cash management accounts, which track the short-term interest rate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investors may also consider mixing both short- and long-term maturities to benefit from the higher short-term interest rates while still locking in the relatively high long-term rates.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2>What Would We Do?<\/h2>\n<p><span style=\"font-weight: 400;\">We had filled our desired SSB allocation when the interest rates were around 3%; therefore, we will not participate in this SSB Aug 2023 offering. We also use a combination of T-Bills and high-yield savings accounts to park our short-term cash to benefit from the higher short-term interest rates.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To get faster updates, follow us on Twitter:<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The latest SSB offering yields 10 year avg of 2.99%.<\/p>\n<p>The first year rate is 2.97%.<\/p>\n<p>With the rates hovering close to 3% for 10 years, this month\u2019s offering is more attractive than last month\u2019s.<\/p>\n<p>If you are interested, do apply before 26 Jul 2023. <a href=\"https:\/\/t.co\/pn7F7y1zs2\">pic.twitter.com\/pn7F7y1zs2<\/a><\/p>\n<p>\u2014 wealthfor.us (@wealthfor_us) <a href=\"https:\/\/twitter.com\/wealthfor_us\/status\/1675817668186890242?ref_src=twsrc%5Etfw\">July 3, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MAS has released the latest Singapore Savings Bond SSB Aug 2023 offering (SBAUG23 GX23080N). The 10-year average is 2.99%, with the first-year rate at 2.97%. It is very close to 3% for the whole duration of the SSB, yay! This month&#8217;s offering sees a jump in the first-year and 10-year average interest rates. This offering&hellip; <a class=\"more-link\" href=\"https:\/\/www.wealthfor.us\/article\/singapore-savings-bond-ssb-aug-2023-at-2-99-interest-rate-rising\/\">Continue reading <span class=\"screen-reader-text\">Singapore Savings Bond SSB Aug 2023 at 2.99%: Interest Rate Rising<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":1741,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102],"tags":[],"class_list":["post-1726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-singapore","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SSB Aug 2023 at 2.99%: Interest Rate Rising<\/title>\n<meta name=\"description\" content=\"SSB Aug 2023 (SBAUG23 GX23080N) average 10-year rate rises to 2.99%. 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After over a decade of hands-on investing (and making countless mistakes), I'm excited to use this platform to share what I've learned over the years. And let's continue to learn together. Writing about macro economy, equities, personal finance, web3. Follow me on Twitter: @danggaku\",\"sameAs\":[\"https:\\\/\\\/x.com\\\/danggaku\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SSB Aug 2023 at 2.99%: Interest Rate Rising","description":"SSB Aug 2023 (SBAUG23 GX23080N) average 10-year rate rises to 2.99%. 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