{"id":2738,"date":"2024-02-02T00:03:54","date_gmt":"2024-02-01T16:03:54","guid":{"rendered":"https:\/\/www.wealthfor.us\/article\/?p=2738"},"modified":"2024-02-02T00:03:54","modified_gmt":"2024-02-01T16:03:54","slug":"singapore-savings-bond-ssb-march-2024-10-year-average-of-2-88","status":"publish","type":"post","link":"https:\/\/www.wealthfor.us\/article\/singapore-savings-bond-ssb-march-2024-10-year-average-of-2-88\/","title":{"rendered":"Singapore Savings Bond SSB March 2024: 10-Year Average of 2.88%"},"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=GX24030V&amp;issue_date=2024-03-01\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">released<\/span><\/a><span style=\"font-weight: 400;\"> the latest Singapore Savings Bond SSB March 2024 offering: <\/span><b>first-year rate of 2.74%<\/b><span style=\"font-weight: 400;\"> and <\/span><b>10-year average of 2.88%<\/b><span style=\"font-weight: 400;\">. For some of us disappointed with <\/span><a href=\"https:\/\/www.wealthfor.us\/article\/singapore-savings-bond-ssb-feb-2024-first-year-2-72-and-10-year-average-2-81\/\"><span style=\"font-weight: 400;\">last month&#8217;s offering<\/span><\/a><span style=\"font-weight: 400;\">, it&#8217;s worth noting that the current SSB offering is slightly better than the previous month. Yay! Should we consider this month&#8217;s SSB?<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2>SSB March 2024 Offering Details<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2739\" src=\"https:\/\/www.wealthfor.us\/article\/wp-content\/uploads\/2024\/02\/SSB-MARCH-2024.png\" alt=\"SSB MARCH 2024\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/cdn.wealthfor.us\/uploads\/2024\/02\/SSB-MARCH-2024.png 1080w, https:\/\/cdn.wealthfor.us\/uploads\/2024\/02\/SSB-MARCH-2024-300x300.png 300w, https:\/\/cdn.wealthfor.us\/uploads\/2024\/02\/SSB-MARCH-2024-1024x1024.png 1024w, https:\/\/cdn.wealthfor.us\/uploads\/2024\/02\/SSB-MARCH-2024-150x150.png 150w, https:\/\/cdn.wealthfor.us\/uploads\/2024\/02\/SSB-MARCH-2024-768x768.png 768w\" sizes=\"auto, (max-width: 1080px) 100vw, 1080px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">SSB March 2024 offers a first-year rate of 2.74% and a 10-year average of 2.88%. These are a step up from the previous month&#8217;s offering of 2.72% and 2.81%, respectively. Despite the slight increase, this latest offering is still much lower than the rates we have seen throughout 2023, north of 3% for both the first year and 10-year average.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The expected lower rates are due to the projected pivot by the Fed this year, ending its past campaign of raising rates.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you have not locked in the higher interest rates, you may consider looking into this SSB March 2024 offering. If interested, please apply before 26 Feb 2024, 9PM, and take note of the following application timeline:<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-2740\" src=\"https:\/\/www.wealthfor.us\/article\/wp-content\/uploads\/2024\/02\/SSB-March-2024-Application-Timeline.png\" alt=\"SSB March 2024 - Application Timeline\" width=\"1219\" height=\"218\" srcset=\"https:\/\/cdn.wealthfor.us\/uploads\/2024\/02\/SSB-March-2024-Application-Timeline.png 1219w, https:\/\/cdn.wealthfor.us\/uploads\/2024\/02\/SSB-March-2024-Application-Timeline-300x54.png 300w, https:\/\/cdn.wealthfor.us\/uploads\/2024\/02\/SSB-March-2024-Application-Timeline-1024x183.png 1024w, https:\/\/cdn.wealthfor.us\/uploads\/2024\/02\/SSB-March-2024-Application-Timeline-768x137.png 768w\" sizes=\"auto, (max-width: 1219px) 100vw, 1219px\" \/><\/p>\n<p>&nbsp;<\/p>\n<h2>Is SSB March 2024 Competitive?<\/h2>\n<h3><span style=\"font-weight: 400;\">Historical Comparison<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">With relatively lower interest rates this year, most investors will assume that this latest SSB offering is not competitive enough. But, let&#8217;s not jump to conclusion too quickly and see where the current level is compared to the historical rates:<\/span><\/p>\n<figure id=\"attachment_2741\" aria-describedby=\"caption-attachment-2741\" style=\"width: 668px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-2741 size-full\" src=\"https:\/\/www.wealthfor.us\/article\/wp-content\/uploads\/2024\/02\/SSB-March-2024-Historical-SSB-Interest-Rates.png\" alt=\"Historical SSB Interest Rates - Mar 2024\" width=\"668\" height=\"432\" srcset=\"https:\/\/cdn.wealthfor.us\/uploads\/2024\/02\/SSB-March-2024-Historical-SSB-Interest-Rates.png 668w, https:\/\/cdn.wealthfor.us\/uploads\/2024\/02\/SSB-March-2024-Historical-SSB-Interest-Rates-300x194.png 300w\" sizes=\"auto, (max-width: 668px) 100vw, 668px\" \/><figcaption id=\"caption-attachment-2741\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.wealthfor.us\/article\/ssb-interest-rate-history\/\">SSB Interest Rates History<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The chart above shows the first-year and 10-year average SSB rates over the past few years. It&#8217;s evident that even though the current rate is lower compared to 2023, it remains one of the highest in recent years. It is still much higher than the levels we saw in 2021 and early 2022.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Are you considering filling in your SSB allocation? This SSB March 2024 can be your opportunity to secure higher rates for the next decade.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Future Interest Rates Projection<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Here is another consideration for you on whether or not to start locking the current rates.<\/span><\/p>\n<figure id=\"attachment_2742\" aria-describedby=\"caption-attachment-2742\" style=\"width: 481px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-2742 size-full\" src=\"https:\/\/www.wealthfor.us\/article\/wp-content\/uploads\/2024\/02\/SSB-March-2024-Market-rates-projection.png\" alt=\"Market rates projection - Mar 2024\" width=\"481\" height=\"206\" srcset=\"https:\/\/cdn.wealthfor.us\/uploads\/2024\/02\/SSB-March-2024-Market-rates-projection.png 481w, https:\/\/cdn.wealthfor.us\/uploads\/2024\/02\/SSB-March-2024-Market-rates-projection-300x128.png 300w\" sizes=\"auto, (max-width: 481px) 100vw, 481px\" \/><figcaption id=\"caption-attachment-2742\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html\" target=\"_blank\" rel=\"noopener\">CME Group<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The table above shows the market expectation of where the US benchmark interest rate will be for each month. We can see that the market expects up to six rate cuts this year starting in May 2024. The Fed has also hinted at up to three rate cuts this year. The Fed and the market agree that interest rates may have peaked and will start reversing this year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Do you agree with their projections? If yes, this SSB March 2024 can be your opportunity to lock the higher rates for longer before interest rates start reversing later this year.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2>Utilizing SSBs for Long or Short Term<\/h2>\n<p><span style=\"font-weight: 400;\">SSB is a long-term 10-year Singapore government bond that allows monthly redemption (partial or full) without penalty. You even earn the accrued interest. Because of this unique feature, SSB can be utilized for both short and long-term cash solutions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As a long-term investment, SSB suits investors with the lowest risk profile whose objective is capital preservation. SSB guarantees your principal and interest payout and is perfect for this group of investors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For short-term cash solutions, SSB offers investors a solution to park their short-term cash in a relatively liquid instrument (with monthly redemption) while still earning relatively competitive guaranteed payouts. Investors also have the option to keep investing for the next decade should they wish to. In our opinion, SSB is versatile in this regard.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2>Recycle\/Swap Older SSBs<\/h2>\n<p><span style=\"font-weight: 400;\">Looking at last month&#8217;s SSB result, we can roughly expect this month&#8217;s offering will also have a low demand. Low demand means we can get full allocation as we wish. If you have older SSBs yielding much lower than 2.88%, you can consider recycling those into this month&#8217;s SSB, as there will be less probability of hitting any quantity ceiling.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2>What Would We Do?<\/h2>\n<p><span style=\"font-weight: 400;\">We have been utilizing SSB to park our short-term cash needs and optimize the interest rates throughout 2023. Because this SSB March 2024 offers lower rates than the 2023 levels, we will not be participating in this month&#8217;s offering.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With interest rates expected to reverse this year, we have migrated most of our shorter-term bonds, such as T-bills, into SSB to lock in the higher rates for the next ten years. Furthermore, the ability to redeem each month with accrued interest provides greater flexibility, surpassing that of T-bills.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Will you be applying for this month&#8217;s SSB? If so, 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","protected":false},"excerpt":{"rendered":"<p>MAS has released the latest Singapore Savings Bond SSB March 2024 offering: first-year rate of 2.74% and 10-year average of 2.88%. For some of us disappointed with last month&#8217;s offering, it&#8217;s worth noting that the current SSB offering is slightly better than the previous month. Yay! Should we consider this month&#8217;s SSB? &nbsp; SSB March&hellip; <a class=\"more-link\" href=\"https:\/\/www.wealthfor.us\/article\/singapore-savings-bond-ssb-march-2024-10-year-average-of-2-88\/\">Continue reading <span class=\"screen-reader-text\">Singapore Savings Bond SSB March 2024: 10-Year Average of 2.88%<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":2743,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[101,102],"tags":[],"class_list":["post-2738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fixed-income","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>Singapore Savings Bond SSB March 2024: 10-Yr Average of 2.88%<\/title>\n<meta name=\"description\" content=\"SSB March 2024 offers a 10-year average of 2.88%. 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