Economics
Bond Secrets Decoded 9,539 Miles From Wall Street in Lot
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To understand where the global bond market is headed, follow the droves of housewives and elderly men who make their way to the parking lot of a public-housing block in Singapore’s Jurong area each weekday morning.
That’s where you’ll find Steven Chan Soon Fatt, who buys everything from old newspapers to scrap metal that he resells to local factories. While business is brisk for the fine copper wire that the men strip from discarded motors, the 58-year-old former taxi driver offers just S$6.20 ($4.75) a kilogram, or about 40 percent less than he did some three years ago.