The rise in interest rates in recent months has seen yet another rise in interest (pun intended) generated, based on what I have read online (yes, the Bedokian does scour the WWW for information) and offline amongst my friends, acquaintances and colleagues. First, there was (and still is) the hype over Singapore Savings Bonds, or SSBs (which I had written a piece here). The upcoming buzzword is “treasury bills”, or T-bills for short. Introduction Of The T-Bill In fixed income nomenclature, bills are debt instruments, issued by a government, whose duration is one year or less. Hence in layman speak, they are bonds with a very short term. Due to this short-term nature, the coupon rate of a T-bill tends to be similar with the prevailing interest rate as at the time of the former’s issuance. With a tenure of one year or less, it is akin to...