SSB application details from BT 020323.

Bank FD 4% and above that time so I go for FD. Now T-bill alot of CPF investment so rate drop below 4%. Recent climb backup to 3.98% hmmm

Rates increasing as you wished.

https://www.ilovessb.com/

This week's MAS Bill auction results:

Tenure	4-week	12-week
Cut-off yield	3.9%	3/95%
Median yield	3.83%	3.88%
Average yield	3.39%	3.27%
BTC ratio	2.26	2.41

Source:

4-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-03-10

12-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-03-10

Both 1-month and 3-month MAS bill COY below 4%. Response is cooler compared to last week yet COYs are lower.

--------------------------

My first 6M T-bill bought last year matures today. Principal will be credited after 5pm supposedly.

This post has been edited by TOS: Mar 7 2023, 03:20 PM

ilovessb.com may soon include T-bills and SGS securities stuffs, which will be helpful for newcomers to SG's risk-free space.

https://forums.hardwarezone.com.sg/threads/...#post-146612514

OCBC, UOB customers can tap CPF funds to buy T-bills online from Mar 31 and Apr 22 respectively

https://www.businesstimes.com.sg/companies-...s-online-mar-31

There's a paywall, but no worries, I will post the whole article in 2 days time when the physical newspaper is available at my uni's library.

This post has been edited by TOS: Mar 10 2023, 05:37 PM

https://www.fsmone.com.my/funds/research/ar...bonds-on-fsmone

fsmone can trade US and SG government bond online now

Be mindful it's twice (min. commissions/fees) as expensive as IBKR. (10 USD vs 5 USD)

Only 0.1% if u invest more than 10k

What are the fees for UOB?

10k USD is not a small amount.

And another thing important for you to know. I could be wrong, but insider sources mentioned to me that FSM bonds are "not even held on a custodian basis", so everything is in FSM's name (i.e., on FSM/iFAST's balance sheet).

Buying bonds on FSM platform implies a "private agreement" between you and FSM. If FSM/iFAST went bankrupt, you have to "go to court to show that you have a private arrangement with FSM", as the source asserts.

This is different from IBKR, whose holdings are segregated in a custodian account separated from the broker's holding company.

*Retail investors often forget about counterparty risk.*

Are you referring to cash purchase of SG T-bills or purchase via CPF?

Cash purchase is free on primary market provided you have CDP account. You can of course purchase the bills in secondary market via SG brokers or FSM.

For CPF-OA investments, you need to open a CPFIS account at one of the 3 local banks (DBS, UOB, OCBC) before you can purchase T-bills from primary market. https://investmentmoats.com/saving-and-inve...ills-sgs-bonds/

All 3 local SG banks have quarterly custodian fees of about 2 SGD. See links below.

DBS: https://www.dbs.com.sg/iwov-resources/media...ule_charges.pdf

OCBC: https://www.ocbc.com/personal-banking/inves...estment-account

UOB: https://www.uob.com.sg/personal/invest/fina...nt-account.page

You are welcome to join your SG friends over at HWZ if you would like to know more: https://forums.hardwarezone.com.sg/threads/...769601/page-629

This post has been edited by TOS: Mar 12 2023, 06:03 PM

As promised, the full article shown below:

The site is ready: https://www.ilovessb.com/sgs

Source: https://forums.hardwarezone.com.sg/threads/...#post-146663759

So which is the best and cheapest way to purchase SSB or T-bills?

Buy from primary market, i.e. directly from DBS/UOB/OCBC via their online portal.

Free of charge for T-bills, 2 SGD charge per purchase/redemption for SSB.

But again, this is limited to those with CDP account only.

This week's MAS Bill auction results:

Tenure	4-week	12-week
Cut-off yield	3.98%	3.83%
Median yield	3.7%	3.72%
Average yield	3.36%	3.28%
BTC ratio	2.02	2.29

Source:

4-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-03-17

12-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-03-17

Both 1 month and 3 month are surprisingly cooler than last week, 1 month BTC almost dropping below 2.

FXFA screenshots for tomorrow's 6M T-bill auction (bid ends tonight at 9 pm).

Offshore EuroSing



Onshore



The rates are pretty low at 3.2-3.5% p.a. Not sure if the FXFA settings have been changed... But this round of auction may throw some downside surprises. One should be mentally prepared.

I double-check with Bloomberg's quote for the latest price for 6M T-bill issued 2 weeks ago. The rates are about 3.8-3.9% p.a.



MAS published 3.91% as the closing yield for the T-bill issued 2 weeks ago, for reference.

https://eservices.mas.gov.sg/statistics/fda...ssuePrices.aspx

This round I bid 3.85% p.a. Tomorrow ikanbilis will post the result here.

This post has been edited by TOS: Mar 15 2023, 06:20 PM

I think tomorrow's number auction number will be messed up...

US 6 month yield just collapsed 4%... a 20-basis-point jump down...

https://www.investing.com/rates-bonds/u.s.-...onth-bond-yield

Expected Fed fund rates are collapsing rapidly. Reinvestment risk is rising.

https://www.wsj.com/livecoverage/stock-mark...YQbBAHlXQibfCvI



This post has been edited by TOS: Mar 15 2023, 11:58 PM

Cut off yield 3.65%.

I did not apply this time round.