SINGAPORE (July 9): Real estate investment trusts as measured by the FTSE ST Real Estate Investment Trust Index have fallen by 6.6% since the start of the year despite a rise in the yield of 10-year Singapore Government Securities — from 2% at the start of the year to around 2.5% currently. A strengthening US dollar is likely to exert upward pressure on the Singapore Interbank Offered Rate (Sibor) and the Swap Offer Rate (SOR) and these will continue to have an indirect effect on the 10-year SGS yield, which some market observers expect to rise towards the 2.8% to 2.9% range.

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