SGD bond issues buck regional trend in H1 to hit S$11.6b as banks tap favourable conditions

SINGAPORE dollar-denominated bond issuances remained resilient in the first half of 2022 despite the challenging macroeconomic environment of inflation and tightening monetary policy, and there are suggestions demand could continue to be steady.

Market participants said volumes rose around 6 per cent compared to H1 2021, which was a better performance than that of G3 (USD, yen and euro bonds) issuance volume across Asia ex-Japan.

Foreign financial institutions (FIs) raising SGD debt have been among the drivers of activity, and the issuance momentum could carry through for the rest of the year.