Losses loom over Singapore mom-and-pop investors amid bond risks

Four bonds sold to individuals in 2016 have sunk.

Singapore millionaires hurting from the recent string of bond defaults now have company, as fallout is now expected to trickle to losses for mom-and-pop investors, according to Bloomberg.

"All four new issues of Singapore dollar-denominated notes targeted at individuals this year have dropped below the par sales value, as failures in the broader market stoke speculation nonpayments will spread," Bloomberg stated.

"UBS Group AG’s wealth management unit said in an Aug. 16 report that retail investors are being sold 'weak' names, and Lombard Odier said they face default risks on securities with poorer credit profiles," it added.

Read the full report here.