The cut-off yield for the latest 6-month Singapore T-bill on 13 February declined to 2.90%. What happened? I was disappointed to see the result for the latest 6-month Singapore T-bill auction. The cut off yield for the 6-month Singapore T-bill (BS25103S) auction on 13 February was at 2.90%. This would represent a decline in the T-bill yield compared to the cut-off yield of 3.04% in the previous 6-month T-bill auction on 28 January. It would also be the lowest yield on the 6-month Singapore T-bill since August 2022. Naturally, there were many others in the Beansprout Telegram community who were dismayed with the lower yield. In this post, I will share what led to the decrease in the cut-off yield in the recent 6-month Singapore T-bill auction. What we learnt from the latest 6-month Singapore T-bill auction #1 - Demand for the Singapore T-bill reached a record high The total applications for the 6-month Singapore T-bill to S$23.3 billion, an increase from S$15.3 billion in the previous auction....