The cut-off yield on the latest 1-year Singapore T-bill auction on 23 January rose to 2.95% What happened? I've been eagerly awaiting the results of the latest 1-year Singapore T-bill auction, as there have been questions in the Beansprout community about whether it is better to apply for the 6-month or 1-year T-bill. Recently, we have seen the cut-off yield on the 6-month Singapore T-bill falling, with great volatility in global bond yields. However, the cut-off yield for the 1-year Singapore T-bill (BY25100H) increased to 2.95% in the latest auction. Source: MAS This would be higher compared to the yield of 2.71% in the previous auction. Let us find out what may be driving the increase in the T-bill yield. What we learnt from the latest 1-year Singapore T-bill auction #1 – Reduced demand for the latest T-bill Firstly, I noticed a significant reduction in demand for the 1-year T-bill. Total applications for the latest Singapore 1-year T-bill fell to S$10.1 billion from S$14.7 billion in  ...