What happened?
Like many others, I was eagerly anticipating the result of the 1-year Singapore T-bill auction today. I was glad to see that the cut-off yield on the
1-year T-bill (BY24101X) rose to 3.58% in the latest auction on 18 April 2024. The higher cut-off yield may not come as a surprise to some investors in the
Beansprout community. After all, we have seen the
T-bill yield rebounding in the past few weeks. The yield on the latest
6-month Singapore T-bill has also remained elevated at 3.75%. Source: MAS The cut-off yield of 3.58% would be higher than the
previous 1-year T-bill auction in January, and similar to the yield in the auction in April 2023.
Source: MAS Let us dive deeper to understand more about what is driving the higher yield on the 1-year T-bill.
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