Latest Change USD/SGD 1.2595 -0.0021 Overnight Rate 0.04% -1 bp 2-Year Bond Yield 0.27% +1 bp 10-Year Bond Yield 2.36% -7 bps 2-Year Swap Offer 0.65% -1 bp 10-Year Swap Offer 2.71% -3 bps 2-10-Year Swap Curve 206 bps -2 bps SINGAPORE--The Singapore dollar was a little higher against the U.S. dollar late on Wednesday but markets were more or less quiet as traders waited to see if the U.S. Federal Reserve will start tapering bond buying soon. The U.S. dollar was quoted at S$1.2595 in the evening compared with S$1.2616 around the same time on Tuesday. During the day it stayed a narrow range of between S$1.2611 and S$1.2585. The Federal Open Market Committee will end its two-day meeting later in the global day and international markets expect a formal announcement bond buying will be reduced by US$10 billion to US$15 billion a month. If the outcome is close to what the market expects the U.S. unit may rebound. Longer-dated Singapore government bonds continued to rise in line with recent gains made by U.S. Treasurys. Yield on the 10-year Singapore government bond fell seven basis points to 2.36%. However, yield on the two-year bond was up by a hundredth of a percentage point to 0.27%.

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