Published at 02:19 (GMT) 14 May
Today: More foreign corporations are raising funds through the issue of debt in Singapore - drawn by the ample supply of cheap funding here and the stable Singapore dollar. Last year, the number of Singapore dollar (SGD) foreign bond issuances jumped 24 per cent from 54 deals in 2010 to 67, while total debt issue size soared 34 per cent during the same period to US$6.5 billion (S$8.14 billion). Non-domestic SGD corporate bond issues are mainly supranational agencies, foreign banks and foreign corporations from the US, Europe and Asia.
USD/SGD still caught between conflicting forces even as EUR broke 1.2900. Prices likely to stay between 1.2500-1.2550 with the SGD NEER seen hovering around the 1.00% mark. Though we still prefer a sell on rallies, it seems like would-be sellers can afford to pick their levels now, with 1.2600 the level most are aiming for. C.L