What are treasury bills? Treasury bills or T-bills are short-term tradable Singapore Government Securities (SGS), available at six-month or one-year tenors. T-bills do not pay out interest, instead, they’re issued at a discount to the face value. Upon maturity, you will receive the full face value. If you can set aside your money for a year, you can consider investing in one-year T-bills. In an upward sloping yield curve, they may offer higher yields compared to six-month ones, as there is more risk priced into the security due to the longer duration. The longer tenor also provides certainty of the rate of return for a longer duration. Although treasury bills are considered low risk, with a fixed return, that also means the return will likely be lower than other investments long-term. Regardless of the economic or interest rate environment, treasury bills are always one of the lowest yielding assets, due to the comparably lower risk profile....