June 2020 Singapore Savings Bond and Weekly Updates
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| June 2020 Issue |
Average Interest Per Year (over 10 years): 1.05%
Interest for First Year: 0.57%
Application Closes: 9.00pm, 26 May 2020
Details on this month SSB can be found on SGS website
Both the short (1-year) and long (10-years) term interest rates for next month has fallen off the cliff to the lowest since the inception of SSB. This is not surprising as the Fed has already lowered interest rates close to zero to stimulate spending instead of saving. Since saving is not encourage, we might as well just spend our money in the stock market.
I have made 2 purchases this month on a bank and retail REIT so far. The exact stocks bought will be shown on my monthly updates post. The stock market is currently in consolidation, trading in a narrow band. It seems that the market is unable to breakout higher and my guess is that the market going forward will be going downtrend. This is just my guess and I may be wrong. As a long term investor, this does not stop me from doing my purchases. Purchases will still be made regularly since I am still in the accumulation phase trying to increase my portfolio size.
With only one week left for May, I may do one more purchase if the market goes further down next week. We are coming to the end of the CB, moving into a 'new normal', and we can only wait it out for the economy to recover.
InvestingNote Profile: @SingularityTruth
Facebook Page: @SingularityTruth
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