Singapore bonds drop as 10-year yields surge

They're now on a 22-month high.

According to a Bloomberg report, Singapore bonds slumped, pushing 10-year yields to a 22-month high, after better-than-forecast U.S. jobs growth kept alive speculation the Federal Reserve will cut back on monetary stimulus.

"The price of Singapore’s 3.125 percent note due in September 2022 tumbled to S$110.42 as of 2:41 p.m. local time from S$110.98 June 7, based on data compiled by Bloomberg and supplied by the Monetary Authority of Singapore," it reported.

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