0316 GMT - USD/SGD is trading steadily during the Asia session, underpinned by a scenario of higher-for-longer U.S. rates. This scenario continues amid worries over rising term premium in the U.S. lifting Treasury yields and the greenback, Maybank analysts say in an FX Research & Strategy report. Demand at the U.S. Treasury's $44 billion auction on Wednesday of seven-year notes was weak, the analysts note. Term premium is defined as compensation which investors require for bearing risk that rates may change over the life of a bond. USD/SGD is little changed at 1.3527. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 29, 2024 23:16 ET (03:16 GMT)
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