This week's MAS Bill auction results:

Tenure	4-week	12-week
Cut-off yield	4.03%	4.09%
Median yield	3.98%	3.95%
Average yield	3.59%	3.57%
BTC ratio	1.75	2.37

Source:

4-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-11-10

12-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-11-10

12-week is hot this time, both 4-week and 12-week COY go down....

See you again at 6 pm with the Bloomberg screenshots!

OCBC users beware... App and internet banking system down across the island... I tried to login the app and find it buggy...

Consider switching to other banks to apply for T-bill if system not yet working in the evening.

https://www.businesstimes.com.sg/companies-...echnical-issues

Here we go! OCBC accounts are working normally by now...

6M T-bill auction closes at 9 pm today.

Offshore SGD implied yield based on SG OIS SORA and US SOFR reference curve: 3.67% - 3.72% p.a.



Onshore SGD implied yield based on same condition as above: 3.97-4.00% p.a.



MAS published last bid quote (by primary dealers) of BS23121E maturing 30 April 2024: 3.89% p.a.

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

Looking at above figures, I will bid 3.80% p.a. This time I bid 3000 SGD from OCBC. Time to clear some of my S-REITs sales proceeds.

Meanwhile, our friend from HWZ reported that:



Source: molangtsum/HWZ

Yes, you are correct.

This round is so hot that the results still can't be produced way after 1pm...

It's out finally. Bid failed...

Today's 6M bill auction result:

% of Competitive Applications at Cut-off Allotted	Approximately 98%
% of Non-Competitive Applications Allotted	95%
Bid-to-Cover Ratio	2.31
Cut-off Yield (Price)	3.75% p.a. (98.13)
Median Yield (Price)	3.65% p.a. (98.18)
Average Yield (Price)	2.71% p.a. (98.649)

Source: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-11-14

This post has been edited by TOS: Nov 8 2023, 06:45 PM

Yesterday's 6M T-bill is clearly overpriced. Today, MAS primary dealers quoted 3.84% for the T-bill auctioned yesterday.

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

An almost 10 basis points rise in yield translates to a drop in price of about (0.5/(1+0.03858/2))*0.1% = 0.049%



This post has been edited by TOS: Nov 9 2023, 11:52 PM

This week's MAS Bill auction results:

Tenure	4-week	12-week
Cut-off yield	3.98%	4.04%
Median yield	3.85%	3.9%
Average yield	3.51%	3.45%
BTC ratio	2.54	2.2

Source:

4-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-11-17

12-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-11-17

May drop below 3.8%...

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

This week's MAS Bill auction results:

Tenure	4-week	12-week
Cut-off yield	4%	4.1%
Median yield	3.9%	3.98%
Average yield	3.43%	3.59%
BTC ratio	2.19	1.95

Source:

4-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-11-24

12-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-11-24

Both 4-week and 12-week demand cool down from last week.

6M T-bill auction closes at 9 pm today.

Offshore SGD implied yield based on SG OIS SORA and US SOFR reference curve: 3.68% - 3.72% p.a.



Onshore SGD implied yield based on same condition as above: 3.92-3.98% p.a.



MAS published last bid quote (by primary dealers) of BS23122F maturing 14 May 2024: 3.83% 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 2000 SGD from OCBC. The rest gonna dump into the December SSB for my wedding fund.

Student planning for marriage 8-10 years later.

Thanks to SSB, Cheng hu will fund my wedding

Ya, non-comp is ok if you die die want to get, even if the yields are very bad.

Oh, you know sometimes the low-ballers from CPF (especially those with OA monies) will bid the yields horribly low...



So, a competitive yield help protects yourself on the low side. But ok lah up to you. In theory, MAS will step in if the cut-off yield moves 25 basis points or more below or above the market yield. https://www.mas.gov.sg/bonds-and-bills/inve...s-are-conducted (see "Auction Safeguard: SGS Bonds")

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

Dec SSB is the latest SSB announced by MAS earlier this month: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-12-01

Next month's projection looks much horrible as long-term yields collapse, this month's yield is nice: https://www.ilovessb.com/projection/SBJAN24

This post has been edited by TOS: Nov 23 2023, 09:15 AM

Your girl as in your daughter?

If she is still young maybe can try 20 or 30-year SGS

It's out!

Today's 6M bill auction result:

% of Competitive Applications at Cut-off Allotted	Approximately 20%
% of Non-Competitive Applications Allotted	98%
Bid-to-Cover Ratio	2.17
Cut-off Yield (Price)	3.8% p.a. (98.105)
Median Yield (Price)	3.63% p.a. (98.19)
Average Yield (Price)	2.9% p.a. (98.554)

Source: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-11-28

Yes, can redeem anytime. Penalty is 2 SGD processing fee. (Both buying and selling will incur 2 SGD charges, only way to avoid is don't buy in the first place or wait till maturity when the principal is credited to your account)

Yes, as evangelion said, you submit request for a refund, the money will be refunded to you at the end of the next month. 2 SGD charges for early redemption.

Interests collected earlier is yours, no need to give anything back to MAS. In fact, MAS will pay you accrued interests between the last coupon payment date and the end of the month in which you submitted your redemption request.

No problem.

The current month SSB (Dec 2023) interest rates are made known at the beginning of the month, so it's guaranteed.

https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-12-01

https://www.ilovessb.com/projection/SBJAN24

The one to be issued in January 2024 is not yet announced, thus the Jan 2024 SSB rates are projected based on the current SGS yield curve. They are subject to change.

Last day to apply guys!

Do so by 9 pm today!