$DBS (D05.SG)$ check the $U.S. 6-Month Treasury Bills Yield (US6M.BD)$ to find a leading indicator for interest rate of the T bills SG govt offers. We may see 4.5% in the near future. This will have an effect of sucking out money from our economy and less investment revenues for banks as we head toward risk off...i dont know how DBS' dividend yield can keep up.