The closing yield on the 1-year T-bill has stayed above 3.6% as of 21 July 2023, despite the recent decline in yield on the 6-month T-bill and cut in fixed deposit rates.
What happened?
Many of you have asked about what to expect for the upcoming Singapore 1-year T-bill auction on 27th July 2023.
This is especially so after we saw a decline in the cut-off yield in the latest 6-month T-bill auction to 3.85% from 3.99% in the previous auction.
On the other hand, we’ve seen more options for high yield savings accounts, with GXS bank offering an interest rate of 3.48% p.a.
Let’s look at the latest indicators to understand whether we might also see a decline in the cut-off yield for the 1-year Singapore T-bill, and if it might be worthwhile considering fixed deposits or savings accounts instead....
