The cut-off yield on the latest Singapore T-bill auction on 1 August fell to 3.4%. What happened? The latest results for the 6-month Singapore T-bill auction are out. The cut-off yield for the 6-month Singapore T-bill (BS24115A) on 1 August fell to 3.40% from 3.64% in the previous auction. This would mark the lowest 6-month Singapore T-bill yield since September 2022, and represents a fairly sizeable decline from a yield of 3.70% in the auction on 4 July. I saw that some investors in the Beansprout community were interested to find out why the yield is lower. In this post, I will be sharing more about why the cut-off yield for the Singapore T-bill fell. What we learnt from the latest 6-month Singapore T-bill auction #1 - Demand for the Singapore T-bill surged The total amount of applications for the 6-month Singapore T-bill surged to S$18.0 billion from S$15.7 billion in the previous auction. This would mark a record high in T-bill applications, surpassing the previous peak of S$16.3 billion....