SG Savings Bond (SSB) & Treasury Bills (T-bills), Guaranteed by Singapore Government
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 Sep 26 2023, 02:01 PM
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#261
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore  
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This week's MAS Bill auction results:
Source: 4-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-09-29 12-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-09-29 |
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Sep 27 2023, 06:16 PM
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#262
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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6M T-bill auction closes at 9 pm today. Offshore SGD implied yield based on SG OIS SORA and US SOFR reference curve: 3.72% - 3.77% p.a. » Click to show Spoiler - click again to hide... « Onshore SGD implied yield based on same condition as above: 4.02-4.03% p.a. » Click to show Spoiler - click again to hide... « MAS published last bid quote (by primary dealers) of BS23118S maturing 19 Mar 2024: 3.75% p.a. https://eservices.mas.gov.sg/statistics/fda...ssuePrices.aspx Looking at above figures, I will bid 3.7% p.a. This time I also bid 2000 SGD, both from OCBC, now that the Frank debit card is fully functional and activated. Not trusting the fishy 3.5% p.a. marketing trick by CIMB SG anymore... Lend money to Cheng hu is still the best option!  It's interesting to note 1-year T-bill is approaching 3.7% p.a. as well. frostfrench, TaiGoh, and 1 other liked this post
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Sep 28 2023, 01:55 PM
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#263
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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FINALLY! It breaks 4%!!! 4.07% Today's 6M bill auction result:
Source: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-10-03 Once again, OCBC's damn fast! » Click to show Spoiler - click again to hide... « Discount money also credited liao... » Click to show Spoiler - click again to hide... « Cheng Hu's T-bill beats CIMB SG hands down... lol This post has been edited by TOS: Sep 28 2023, 04:17 PM frostfrench, TaiGoh, and 2 others liked this post
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Sep 28 2023, 05:44 PM
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#264
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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https://eservices.mas.gov.sg/statistics/fda...ssuePrices.aspx
The 6M yield quoted by primary dealers jumped to 3.94% p.a., 1Y T-bill now 3.76% p.a. ! |
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Oct 2 2023, 08:37 PM
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#265
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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SSB rates skyrocket as well. Issue size upped $200 million to 1 billion! SBNOV23 (Announced)
*At the end of each year, on a compounded basis. Closing Date: 26 Oct 2023 Source: hwckhs/HWZ, MAS frostfrench and TaiGoh liked this post
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Oct 3 2023, 08:17 AM
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#266
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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For those who are interested, some slight difference in custodian technicalities between US and SG T-bills (also apply to other Treasury notes/bonds).
QUOTE Brokers handling U.S. Treasuries typically can handle initial auction orders too. That part doesn’t change. TreasuryDirect is just another option for those who are eligible to use it. As background, TreasuryDirect has no analog in Singapore. For U.S. persons (and possibly a few others) the U.S. Department of the Treasury (through its Bureau of the Public Debt, I believe) operates its own channel for direct public participation in auctions of U.S. Treasuries. U.S. persons are not obliged to use this channel (TreasuryDirect) specifically, but it’s a popular option. In Singapore we have what are called “primary dealers,” and the retail public places their orders through their channels. The U.S. Treasury also offers direct custody services for these bonds/notes/bills/securities. Here in Singapore we don’t have that either. The custody is via CDP or (for SRS and CPF) primary dealers. U.S. Treasuries still have primary dealers, of course. Source: BBCWatcher/HWZ |
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Oct 3 2023, 01:11 PM
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#267
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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This week's MAS Bill auction results:
Source: 4-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-10-06 12-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-10-06 The 4-week MAS bill demand spiked, likely due to worries about US government shutdown earlier. BTC ratio increased 30% from 1.73 last week to 2.28 this week. 12-week rate remains stable. |
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Oct 4 2023, 07:11 PM
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#268
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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1-year T-bill breaks above 3.80%! 5-year SGS breaks 3.40%. 10-year SGS breaks above 3.50%! 20-year SGS yield rose 10 basis points in a day to 3.31% from 3.18% yesterday. 30-year and 50-year yields also rose 10 basis points in just one day. SGD.MYR reaches 3.45 as of now. https://eservices.mas.gov.sg/statistics/fda...ssuePrices.aspx This post has been edited by TOS: Oct 4 2023, 07:12 PM frostfrench and TaiGoh liked this post
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Oct 8 2023, 03:51 PM
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#269
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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War in the middle east will likely result in flight to risk-free assets, SG T-bills yield might drop...
But on the other hand, USD and oil price will go up. If expected inflation number ticks up, should help moderate the impact of the rush to T-bills... |
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Oct 9 2023, 01:48 PM
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#270
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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https://www.businesstimes.com.sg/companies-...orts-lose-steam
MAS Monetary Policy Statement due for release at 8 am on the 13th of October. https://www.mas.gov.sg/monetary-policy/adva...elease-calendar |
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Oct 10 2023, 01:20 PM
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#271
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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DBS now informs users about their T-bill application via email.
QUOTE Now DBS send email confirmation after placing my bid in cash. Not sure if they will send email of the bid results, will only know on Thursday. Source: oric1/HWZ |
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Oct 10 2023, 02:26 PM
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#272
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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SGD.MYR hit 3.47 again today. This week's MAS Bill auction results:
Source: 4-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-10-13 12-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-10-13 frostfrench liked this post
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Oct 11 2023, 06:52 PM
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#273
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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6M T-bill auction closes at 9 pm today. Offshore SGD implied yield based on SG OIS SORA and US SOFR reference curve: 3.66% - 3.70% p.a. » Click to show Spoiler - click again to hide... « Onshore SGD implied yield based on same condition as above: 3.94-3.96% p.a. » Click to show Spoiler - click again to hide... « MAS published last bid quote (by primary dealers) of BS23119H maturing 02 Apr 2024: 3.91% p.a. https://eservices.mas.gov.sg/statistics/fda...ssuePrices.aspx Looking at above figures, I will bid 3.85% p.a. This time I also bid 2000 SGD, both from OCBC. Looks like the issue 2 weeks back was due to some traders bidding 6M T-bill using onshore rates instead of offshore rates, hence the jump in yield. ikanbilis and frostfrench liked this post
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Oct 12 2023, 02:46 PM
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#274
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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Today's 6M bill auction result:
Source: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-10-17 OCBC's kind of slow today. BTC almost 3 times, a very hot issue, no wonder COY comes down. Next week's 1Y T-bill might be hot as well... harmonics3 and ikanbilis liked this post
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Oct 13 2023, 08:01 AM
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#275
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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MAS policy statement:
QUOTE MAS will therefore maintain the prevailing rate of appreciation of the S$NEER policy band. There will be no change to its width and the level at which it is centred. MAS will closely monitor global and domestic economic developments, amid uncertainty on both inflation and growth. https://www.mas.gov.sg/news/monetary-policy...atement-13oct23 They will shift to a quarterly MPC statement announcement from next year. The next MPC statement is scheduled for release in late January 2024. This post has been edited by TOS: Oct 14 2023, 10:13 PM |
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Oct 13 2023, 05:25 PM
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#276
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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QUOTE(ccschua @ Oct 13 2023, 04:21 PM) does this mean MAS is intentionally strengthening its currency against the basket of currency ? MAS has always appreciated its currency to counter inflation. Singapore does not set its monetary policy based on interest rate but through currency instead.  MAS has good reason to believe that inflation will come back with the war in Middle East and a resilient US economy. |
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Oct 17 2023, 01:10 PM
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#277
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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This week's MAS Bill auction results:
Source: 4-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-10-20 12-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-10-20 4-week a bit hot yet COY jumped 10 basis points from last week. 12-week yield stable, little changed from last week. Tomorrow 9pm is 1Y T-bill application deadline. Bloomberg screenshots will be provided around 5.30-6 pm. Stay tuned! |
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Oct 17 2023, 01:28 PM
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#278
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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QUOTE(ccschua @ Oct 17 2023, 01:19 PM) seems like going up. Err, no. Tomorrow is the closing for 1Y T-bill. Auction for 1Y takes place this Thursday, 19th Oct, which is 2 day from now.tomorrow is the opening of 1Y T Bill. close 1 week later. » Click to show Spoiler - click again to hide... « 6M T-bill will open on the same day as 1Y T-bill auction date (19th Oct), but no need to be in a hurry for bidding. It's too early for 6M. |
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Oct 18 2023, 12:53 PM
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#279
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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One warm reminder for DBS users:
CPF-OA deadline for T-bill application has been pushed forward to align with cash application (i.e., both will close at 9pm today). Reported from hwckhs/HWZ. |
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Oct 18 2023, 05:49 PM
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#280
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Senior Member
8,667 posts Joined: Aug 2019 From: Penang <-> Singapore
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Here we go! 1Y T-bill auction closes at 9 pm today. Offshore SGD implied yield based on SG OIS SORA and US SOFR reference curve: 3.62% - 3.71% p.a. » Click to show Spoiler - click again to hide... « Onshore SGD implied yield based on same condition as above: 3.91-3.92% p.a. » Click to show Spoiler - click again to hide... « MAS published last bid quote (by primary dealers) of BY23102N maturing 30 July 2024: 3.82% p.a. https://eservices.mas.gov.sg/statistics/fda...ssuePrices.aspx Looking at above figures, I will bid 3.75% p.a. This time I bid 1000 SGD from OCBC. Keep your fingers crossed for this hot issue in tomorrow's auction... This post has been edited by TOS: Oct 25 2023, 06:06 PM frostfrench and ikanbilis liked this post
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