Bd3_lecture - Singapore Government Securities Week 6: Debt...

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Government Bonds Government Bond Auctions 2/13 Roger Loh Singapore Government Securities Objectives ± Provide liquid investment alternative which has little default risk. ± Establish a liquid government bond market to serve as a benchmark for the corporate debt market. ± Broaden the range of financial services in Singapore and encourage the development of skills related to fixed-income securities. 3/13 Roger Loh Primary Dealers ± Dealers who trade SGS with MAS ± Underwrite issuance of SGS at auctions ± Must quote continuous two-way prices in all market conditions. ± Present dealers: ABN, BOA, Barclays, CSFB, DBS, Deutsche, OCBC, UOB, Citibank, Std.Chart, HSBC. 4/13 Roger Loh Outstanding SGS and turnover $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 1 98 7 8 1989 1990 9 91 92 99 3 4 1995 1996 97 2000 2001 2 0 02 005 2006 07 08 Year Outstanding $m $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 Turnover $m Outstanding Bills Bonds All Turnover ($m)
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This note was uploaded on 06/06/2009 for the course SOB FNCE102 taught by Professor Rogerloh during the Spring '09 term at Singapore Management.

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Bd3_lecture - Singapore Government Securities Week 6: Debt...

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