THE cut-off yield on Singapore’s latest six-month Treasury bill (T-bill) rose slightly to 3.08 per cent, from 3.04 per cent in the previous six-month auction that closed on Nov 7.
Auction results released by the Monetary Authority of Singapore on Thursday (Nov 21) showed that demand grew in the latest tranche, with the auction receiving a total of S$13.7 billion in applications for the S$7 billion on offer.
This represented a bid-to-cover ratio of 1.96 versus the previous auction’s ratio of 1.82 when S$12.3 billion in applications were received for the S$6.8 billion on offer.
The latest auction’s median yield stood at 2.95 per cent per annum, unchanged from the same amount as at Oct 24. Average yield grew to 2.76 per per cent per annum from 2.72 per cent previously.
Non-competitive bids totalled S$2 billion and were fully allocated. About 91 per cent of competitive applications at the cut-off yield were allotted.
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