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OUTLOOK 2024

Debt capital market set to pick up in 2024, driven by strong Asian fundamentals

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Yong Hui Ting

Yong Hui Ting

Published Mon, Dec 25, 2023 · 05:00 AM
    • Singapore’s government-issued bonds, such as T-bills, have drawn strong interest this year, after yields crossed the 4 per cent mark in January and September.
    • Singapore’s government-issued bonds, such as T-bills, have drawn strong interest this year, after yields crossed the 4 per cent mark in January and September. PHOTO: BT FILE

    DEMAND for bonds will continue to remain strong, owing to the higher-than-normal base interest rates set by the US Federal Reserve. 

    “There’s talk of rates being eased off next year, but we don’t see it coming down very, very rapidly,” said Clifford Lee, DBS’ global head of fixed income. 

    Coupled with an air of uncertainty going into 2024, this could result in what Lee calls a “lack of conviction” from investors, as they mull investment decisions and strategies. “So what do you do while you think? You park it in bonds,” he said. 

    Outlook 2024debt capital marketsBondsUS Federal Reserve

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