Weak demand at Singapore's 5-year bond auction
Singapore's 5Y SGS (MD) auction on 2026-10-28 showed weak demand: bid-to-cover 0.00x vs. a recent average of 2.48x. Yield 0.000%, vs. 1.750% at the previous 5-year auction on 2026-06-26.
Recent readings — Singapore 5Y bid-to-cover, recent auctions
| vs. previous | ||
| Oct 28, 2026 | 0.00x | ▼ -100.0% |
| Jun 26, 2026 | 2.19x | ▼ -16.7% |
| Jan 28, 2026 | 2.63x | ▼ -12.3% |
| Oct 29, 2025 | 3.00x | ▲ +12.8% |
| Aug 27, 2025 | 2.66x | ▲ +32.3% |
| May 28, 2025 | 2.01x | — |
Why this matters
Every government that borrows has to find buyers at auction. When demand thins out - fewer bids, a wider tail, or the government keeping back part of the issue - it's an early sign investors want a higher return to keep lending to that country.
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