Latest 6 months T-bill auction had a cut-off yield of 3.99% per annum.
That is the good news.
The not so good news is that more people are now in the non-competitive bid camp.
Still, having 94% of my application filled is not too bad.
As the front end of the yield curve is still elevated, 6 months T-bills will remain rewarding.
This is especially when the banks have toned down in their fight for deposits.
The reason seems to be that the growth in loans has slowed while deposits have increased.
So, the banks don't need more deposits.
Given this situation, I could divert funds from maturing fixed deposits into T-bills in the coming weeks.
As for equities, I am still interested in adding to my investments in OCBC and UOB.
OCBC has broken its trend line support.
It could retest support at $12.00....
