It's ok. Credit Suisse stressed us out yesterday. Already warned yesterday that the result will have downside surprises. Also, the Bloomberg numbers weren't messed up. It correctly warned us ahead in time.

% of Competitive Applications at Cut-off Allotted	Approximately 66%
% of Non-Competitive Applications Allotted	100%
Bid-to-Cover Ratio	2.77
Cut-off Yield (Price)	3.65% p.a. (98.18)
Median Yield (Price)	3.58% p.a. (98.215)
Average Yield (Price)	3.41% p.a. (98.3)

Source: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-03-21

Source: https://forums.hardwarezone.com.sg/threads/...#post-146722782

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



Source: https://forums.hardwarezone.com.sg/threads/...#post-146723956

T-bill yields are going back down again. How abt the latest SSB yield, bro ?

Latest projected SSB yield levels have dropped across all tenor. https://www.ilovessb.com/

It used to be 3.34-3.36% p.a. early last week. Now it's projected to be 3.24% p.a. based on yesterday's (16th Mar) SGS yield curve.

This post has been edited by TOS: Mar 17 2023, 01:03 PM

Thank you again, bro,...

Hmm, if it's 3.24% for April Issue, it's still higher than my December and January Issues, right ?

ilovessb.com has historical SSB rate archiving service. https://ilovessb.com/historical-rates

December issue saw the highest SSB rate ever (3.26 avg rate first year -3.47 avg rate in year 10). January's issue will be lower than 3.24% is you don't hold it till maturity.

You may make a profit if you swap January's issue to the upcoming April issue, but 2 things to bear in mind:

1. 4 SGD service charge (2 sgd for withdrawal, 2 sgd for new subscription)

2. April's SSB rate is not yet finalized. The rates may change anytime. The current numbers are projections only.

1. The $4 service charge is bearable if the amt we invest is big enough.

2. Yeah,... you are right. Need to watch what Feds do on Tuesday night. If Feds stops raising on Tuesday night, then April issue will go below 3.24%,... hence, no need so much work to sell-out and buy-in again.

This week's MAS Bill auction results:

Tenure	4-week	12-week
Cut-off yield	4.05%	4.04%
Median yield	3.7%	3.83%
Average yield	3.1%	3.5%
BTC ratio	1.84	1.8

Source:

4-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-03-24

12-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-03-24

Both 1-month and 3-month are even cooler than last week, both BTC dropped below 2. COY reaching 4% again.

A busy week of MAS auctions ahead.

1-month and 3-month MAS bill auction this Tuesday as usual, followed by a 15-year SGS auction and 20-year SGS mini-auction in Wednesday, and lastly 6-month T-bill auction in Thursday.

OCBC CPFIS holders still can't apply for CPF-OA investment in T-bill as the system should come online on 31st March, the day after the 6M T-bill auction result is announced.

DBS CPFIS holders should note that the online application for T-bill via CPF-OA monies end one day earlier before the cash application deadline at 12 pm.

UOB CPFIS holders need to wait till 22nd of April for the online system to be ready for T-bill application using CPF-OA monies.

This post has been edited by TOS: Mar 26 2023, 02:58 PM

This week's MAS Bill auction results:

Tenure	4-week	12-week
Cut-off yield	4%	4.05%
Median yield	3.7%	3.9%
Average yield	3.21%	3.33%
BTC ratio	1.92	2.03

Source:

4-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-03-31

12-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-03-31

Both 1-month and 3-month COY holding at about 4%.

Oh shit. DBS service down...

https://www.businesstimes.com.sg/companies-...-down-wednesday

If it's not up by 9pm tonight, I will miss this time's T-bill bidding opportunity...

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

<Updated 12.49pm>

Access to our digital services (DBS/POSB digibank Online and Mobile, DBS Vickers mTrading, DBS PayLah!) is intermittent and you may experience some slowness during login.
Please be assured that your deposits and monies are safe and secure. We are sorry for the inconvenience caused.

From: https://www.facebook.com/dbs.sg/

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

15-year and 20-year SGS auction results have been published:

15-year: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-04-03

20-year: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-04-03

ilovessb.com has some nice and professional data snapshots:

15-year: https://www.ilovessb.com/15-year-sgs-bond

20-year: https://www.ilovessb.com/20-year-sgs-bond

This post has been edited by TOS: Mar 29 2023, 01:33 PM

Looks like DBS is a huge letdown today.

But today's Bloomberg data suggest the yields aren't too enticing either. Offshore yields 3.54-3.62% while onshore yields around 3.86% p.a.



Will be bidding around 3.7%-3.8% p.a., 3.75% p.a. looks about right. But bids are only possible if DBS came back online before 9pm...

Good luck guys. ikanbilis standby here tomorrow at 1pm.

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

In another news, SSB April result was published this afternoon.



https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-04-03

This post has been edited by TOS: Mar 29 2023, 05:37 PM

Cut off yield 3.85%. Disappointed

% of Competitive Applications at Cut-off Allotted	Approximately 12%
% of Non-Competitive Applications Allotted	100%
Bid-to-Cover Ratio	2.23
Cut-off Yield (Price)	3.85% p.a. (98.08)
Median Yield (Price)	3.65% p.a. (98.18)
Average Yield (Price)	3.43% p.a. (98.29)

Source: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-04-04

lol what rate was you expecting

3.85 about in line with Bloomberg's FXFA numbers.

But ya, comparing with US 6M T-bill, it's behind by almost a full percentage point.

April SSB allotment and 15-year SGS auction results, as reported in BT 300323:

Latest 6M T-bill auction result reported by BT 310323:

SSBMAY23 rates announced by MAS this afternoon.

Year from issue date	1	2	3	4	5	6	7	8	9	10
Interest %	3.03	3.03	3.03	3.03	3.03	3.03	3.03	3.16	3.21	3.21
Average return per year %	3.03	3.03	3.03	3.03	3.03	3.03	3.03	3.04	3.06	3.07

Closing Date: 25 Apr 2023
Issue Size: $700M (unchanged)

Source: MAS official website

hwckhs on HWZ

Quotation of taxable book-entry Singapore Government Bonds



From BT 030423

This week's MAS Bill auction results:

Tenure	4-week	12-week
Cut-off yield	3.98%	4.02%
Median yield	3.4%	3.9%
Average yield	2.79%	3.46%
BTC ratio	2.2	2.18

Source:

4-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-04-10

12-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-04-10

Both 1-month and 3-month COY still around 4%.

OCBC CPFIS holders will now be able to apply for CPF-OA investment in SG T-bills as the system goes online today.

Reported from HWZ: https://forums.hardwarezone.com.sg/threads/...#post-146992278