The cut-off yield on the latest 6-month Singapore T-bill auction on 23 May fell to 3.65% What happened? Some investors in the Beansprout community appear disappointed with the latest T-bill auction result today. The cut-off yield for the 6-month Singapore T-bill auction (BS24110T) on 23 May was at 3.65%, declining further from 3.7% in the previous auction. It is also lower than the closing yield of the 6-month T-bill as of 16 May. This is the fourth consecutive decline in the cut-off yield on the 6-month T-bill, after it reached a recent high of 3.8% on 27 March. Source: MAS Let us find out why the yield on the Singapore T-bill has declined in the latest auction. What we learnt from the latest 6-month Singapore T-bill auction #1 - Demand fell compared to the previous auction The total amount of applications for the 6-month Singapore T-bill fell to S$14.5 billion, from the record S$16.3 billion in the previous auction.  ...