Dear readers, the next upcoming 6-month Treasury bill (T-Bill) is BS23115E, with auction result date on 3 Aug 2023.
What will be the cut-off yield of BS23115E?
Let us take a look at the cut-off yields of the recent 6-month T-bills.
BS23114A, auction date: 20 Jul 23; cut-off yield of 3.85% per annum
BS23113V, auction date: 6 Jul 23; cut-off yield of 3.99% per annum
BS23112N, auction date: 22 Jun 23; cut-off yield of 3.89% p.a. per annum
BS23111W, auction date: 8 Jun 23; cut-off yield of 3.84% p.a. per annum
Looking at the issuance of the recent Treasury bills with auction date in previous and current month, the cut-off yields are indeed attractive, at over 3.84% per annum.
In fact, the average of the above four T-bills is 3.89% per annum.
My estimate of cut-off yield of BS23115E is lower than the 3.85% per annum of the previous 6-month T-bill. I am confident that the cut-off yield of BS23115E will continue to be near 3.80% per annum.
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