Dear readers, the next upcoming 6-month Treasury bill (T-Bill) is BS23117Z, with the auction result date on 31 Aug 2023, which is just slightly a week away.
What will be the cut-off yield of BS23117Z?
Before we take a look at the possible cut-off yield of BS23117Z, let us take a look at the cut-off yields of the recent 6-month T-bills.
BS23116F, auction date: 17 Aug Jul 23; cut-off yield of 3.73% per annum.
BS23115E, auction date: 3 Aug Jul 23; cut-off yield of 3.75% per annum
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
From the above, the cut-off yield of the 6-month T-bills has been declining for the past four T-bills, from 3.99% per annum to 3.73% per annum.
Considering the cut-off yield of the most recent one-year Singapore Treasury bill (T-bill), BY23102N, is 3.74% per annum, we have come to a point where the cut-off yield of Singapore’s 6-month T-bill falling below that of the 1-year T-bill!
Given recent declines of the cut-off yields of the 6-month T-bills have been rather gradual, I estimate a 3.60% to 3.70% per annum for the cut-off yield of BS23117Z, taking an average, this will be 3.65% per annum cut-off yield.
That’s it for my insights today. I Thank you once again for your support of SG STOCKS INVESTING, your Money and Lifestyle magazine! Connect with me here to follow the daily exciting and useful posts on these two blogs, Thank You for your support!
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