Broker Name: iFAST Financial Pte Ltd
Date of Report: 15 Jul 2026
Excerpt from iFAST Financial Pte Ltd report.
Report Summary
- SGD Bonds Outperformed in 1H26: Singapore government bonds returned 2.3% and SGD corporate bonds 1.4% in 1H26, outpacing Asian peers. Strong domestic demand and a favorable demand-supply backdrop are expected to support SGD bond prices in 2H26.
- Actionable Ideas:
- SG Sovereign Bonds: Focus on short-term Singapore Treasury Bills (T-bills) with recommended rollovers in 6-month to 1-year maturities at yields of 1.4%–1.5%. Extension of duration is not recommended now due to a flatter yield curve and limited pickup for longer maturities.
- SGD Corporate Bonds: Consider the 3 to 5-year segment for strong yield pickup (around 90–100 bps over sovereigns), with a preference for high-quality issuers. SGD corporate bonds are attractive as hold-to-maturity investments, offering resilient income amidst higher inflation and market volatility.
- Fund Highlights:
- Amova Short Term Bond Fund and United SGD Fund are recommended for diversified SGD fixed income exposure. Both funds have short duration, focus on capital preservation, and have delivered consistent risk-adjusted returns (3-year annualised returns: 3.8–3.9%).
- Key Takeaway: Stay short on SG sovereigns, focus on quality 3–5 year SGD corporates, and consider low-duration bond funds for stability and yield. No specific equity target price or ticker is provided; the focus is on fixed income positioning.
Above is an excerpt from a report by iFAST Financial Pte Ltd. Clients of iFAST Financial Pte Ltd can access the full research report from the broker’s website.
