The auction receives a total of S$11.2 billion in applications for the S$5.3 billion on offer
[SINGAPORE] The Republic’s latest one-year tranche of Treasury bills (T-bills) is offering a cut-off yield of 2.29 per cent, according to auction results released by the Monetary Authority of Singapore on Wednesday (Apr 16).
This is down 0.66 percentage point from the 2.95 per cent offered in the auction for the previous one-year tranche in January.
The auction received a total of S$11.2 billion in applications for the S$5.3 billion on offer, representing a bid-to-cover ratio of 2.11.
In comparison, the previous auction received S$10.1 billion in applications for the S$5.4 billion on offer.
Median yield in the latest auction stood at 2.13 per cent, down from 2.83 per cent in the previous auction.
The average yield fell to 2.11 per cent, a decrease from 2.72 per cent previously.
Non-competitive bids totalled S$473.3 million and were fully allotted.
About 55 per cent of competitive applications at the cut-off yield were allotted. Those who specified a lower yield were fully allotted, and those who specified a higher yield were not.
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