Tbill has outperformed global indexes this year. Those who has allocated money inside has protected themselves from the downside of the markets(S&P -21%, HSI -15.5%, HStech -28%). The current effective yield of 4.2% pa is one of the highest risk free return you can get in Singapore.  If you have 100k and want to deploy into the upcoming T-bill, do know that there is a better alternative. Tbill is not liquid, even though the full interest is front loaded, you only get back your principal after 6mths. If you wish to get it back earlier, you can only risk selling via an illiquid market that would most certainly incur you losses. Instead put the 100k into UOB One account. It gives an effective yield of 5% pa for the first 100k inside. It beats the Tbill yield and your cash inside is liquid, can be used to buy equities...