Singapore 10 Year Government Bond Yield increased to a 14-year high of 3.56%, as investors continued to move away from government debt as rising global interest rates offer better returns. To slow down the inflation, the Monetary Authority of Singapore has already increased three times this year the rate of appreciation of the policy band of the Singapore dollar nominal effective exchange rate and re-centred the mid-point of the exchange rate policy band higher. Singapore' s annual inflation rose to an over 14-year high of 7.5% in August, with food prices rising the most in nearly 14 years while core consumer prices rose by 5.1%, the steepest rise since November 2008. Meanwhile, the 10-year US Treasury yield, a global benchmark, stayed near a 12-1/2 year high, as worries persisted that high inflation and higher interest rates will drag the world' s largest economy into a recession.