Dear readers, the upcoming 6-month T-bill, BS24106W will have its auction on 27 Mar 24.
The issue date of the T-bill is 2 Apr 24, with a maturity date of 1 Oct 24.
What will be the expected cut-off yield for the T-bill?
Let us first look at the T-bills which were auctioned this year in the list below.
BS24105X, auction date: 14 Mar 24; cut-off yield of 3.78% per annum
BS24104T, auction date: 29 Feb 24; cut-off yield of 3.80% per annum
BS24103H, auction date: 15 Feb 24; cut-off yield of 3.66% per annum.
BS24102S, auction date: 1 Feb 24; cut-off yield of 3.54% per annum.
BS24101Z, auction date: 18 Jan 24; cut-off yield of 3.70% per annum.
BS24100F, auction date: 4 Jan 24; cut-off yield of 3.74% per annum.
From the list, the cut-off yield of recent T-bills ranges from 3.54% to 3.80%. The cut-off yields of the most recent T-bills hovered at a high of around 3.80% per annum.
I would expect the cut-off yield of BS24106W to be minimally above 3.70% per annum based on the past record of recent T-bills.
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