Dear readers, there will be an upcoming 6-month T-bill BS23102H for auction on 2 Feb 23.
In the previous 6-month T-bill (BS23101S) issued on 25 Jan 2023, the cut-off yield was 4%, or around 4.76% down from the previous 6-month T-bill issued on 10 Jan 2023.
As inferred from the graph below, the current cut-off yield is now below the 3-month moving average (which is also trending down as well). The trend is expected to persist. Currently, the 3-month moving average is 4.16%
The reduction of the cut-off yield has been at average of 3.12% from previous issue in the three most recent issues of the 6-month T-bills. Hence I expect the cut-off yield of BS23102H to be also 3.12% lower than the 4% of the most recent issue and that works out to 3.88%.
As such, I expect a 3.88% for the cut-off yield of 6-month T-bill BS23102H.
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