The cut-off yield for the latest 6-month Singapore T-bill on 22 May declined further to 2.20% p.a. What happened? Results for the latest 6-month Singapore T-bill auction have just been announced. At the auction on 22 May 2025, the cut off yield for the 6-month Singapore T-bill (BS25110H) declined to 2.20%,  down again from 2.30% in the previous auction. This drop comes on the back of a broader fall in bond yields in recent weeks, including the 1-year Singapore T-bill yield that dipped to 2.29% earlier.  Here, I'll explore the latest 6-month Singapore T-bill auction results and what they might mean for investors. What we learnt from the latest 6-month Singapore T-bill auction #1 -Demand for the Singapore T-bill increased again The total applications for the 6-month Singapore T-bill rose to S$18.1 billion, up from S$17.1 billion in the previous auction. This shows continued strong demand. That said, the demand is lower than the recent high of S$23.3 billion during the auction on 13 February 2025. ...