Singapore Savings Bonds (SSB) Update Nov 2022 – Allotted $10K, Redeemed $10K

SSB Nov 2022 allotment results are out. Demand was high unsurprisingly, with this round being oversubscribed by more than 2x. Everyone who applied gets at least $10K. The lucky 29% gets additional $500 allotment. I’ll get at least $10K, since I applied for $20K worth this round.

Coincidentally also, I redeemed $10K worth of July 2022 SSB which was yielding 2.71% over 10 years and only 1.69% in the 1st year. Yields have increased for every year especially on the short end, so rolling over to the latest SSBs are a no-brainer. The catch is how much you can get allotted. I was hoping to get more than $10K this round, but I underestimated the demand.

See my SSB tracker page where I compile SSB info from MAS website.

Next month’s SSB should yield even higher, so I’m definitely applying with at least $20K. Looking at the average daily yield of 10Y SGS so far in Oct 2022 with only 1 trading day left, Dec SSB should yield ~3.48%. If that happens, demand will surely skyrocket. Seems unlikely to even get $10K allotted.

Since stocks are still declining and the US Fed has shown no signs of slowing down yet, I plan to just continue focusing on optimising yields on idle cash through SSB and/or other cash management solutions, besides the regular DCA through FSMOne and Syfe.

I’ll also be looking to roll the rest of my July SSB of $8K and maybe the Oct SSB of $10K if SSB rates continue to rise in tandem with US interest rates.

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