Oh my, our names appear in HWZ now lol

https://forums.hardwarezone.com.sg/threads/...#post-151901226



Say Hello to our friends across the causeway!

Just a reminder: The next 6M Tbill application deadline will be 9pm on the 9th of April (next Tuesday). 10th of April will be the Puasa holiday and the auction result will be known by 11th April.

NTU Bloomberg terminals are all fully booked tomorrow...



Those young kids... last minute homework deadline fighters...

I am afraid I can't provide screenshots tomorrow...

Let's just rely on MAS primary dealers data and assume a 10-15 basis point ask-middle spread...

Makes life easier!

This week's MAS Bill auction results:

Tenure	4-week	12-week
Cut-off yield	3.86%	3.88%
Median yield	3.77%	3.82%
Average yield	3.54%	3.51%
BTC ratio	2.26	2.11

Source:

4-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2024-04-12

12-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2024-04-12

Quite a big drop in COYs for today's MAS Bill auctions

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No la 25 already... old liao, still can't find girlfriend...

Getting nervous day by day...

Anyone can introduce me someone special?

Now I am a teaching assistant, can't date with undergrads on NTU campus anymore... teacher-student barrier...

Cannot lah, I am a family person. I only enjoy spending money with my girlfriend, wife and kids...

I eat free food since last year, not spending money on food for months already...

Asking a girl's consent makes me feel like a gentleman, I enjoy that!

Loneliness is harmful to one's health...

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

MAS primary dealers quote 3.75% p.a., so 10 basis points spread means 3.65% p.a.

Will bid 3.65% p.a., 4k SGD from OCBC.

You can read back the previous posts. There are many ways to come up with a smart guess. I explain some of them below:


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

Now armed with 3 smart guesses, you can make a good guess of how much to bid. The best time to submit T-bill bid(s) is always "last minute", i.e., just hours before the 9 pm application deadline via the 3 local SG banks' portal. If you submit earlier, you lose earning daily interests from the bank (this interest varies from person to person, some uses multiplier account with 3-4% p.a. effective interests, some like me use the basic account with 0.05% p.a. interests, the opportunity costs really depends on each individual's case.)

If a bid is unsuccessful, your money will be refunded on the auction day itself, around 3-4 pm for OCBC, around 5.15 pm for DBS (not sure about UOB as I don't have an account with them, probably somewhere in between the 2 banks?) In very rare instances, if the auction is too hot, the money may be credited back to you as late as 8-9 pm on the same day, it happened a few times towards the end of last year when T-bill yield hit 4% p.a. and above.

As the refunded money goes into your account on the same day, you are free to decide what you wish to do with it. 6M T-bills are issued in the primary market every 2 weeks, so I just wait for 2 weeks and continue bidding. Every 3 months, like in this month, there will be a 1-year T-bill offered too. You can wait for one week later, and resubmit your bid for the 1-month T-bill, if you are interested.

Hope the above info helps.

Can, no problem.

Nothing stops you from doing that.

The refunds will go to each bank account on the auction day but upon maturity ALL proceeds will go to the bank account registered with CDP for the DCS (Direct Crediting Service).

Today's 6M bill auction result:

% of Competitive Applications at Cut-off Allotted	Approximately 26%
% of Non-Competitive Applications Allotted	88%
Bid-to-Cover Ratio	2.54
Cut-off Yield (Price)	3.75% p.a. (98.13)
Median Yield (Price)	3.65% p.a. (98.18)
Average Yield (Price)	3.39% p.a. (98.31)

Source: https://www.mas.gov.sg/bonds-and-bills/auct...date=2024-04-16

Hot auction, COY maintains at high level... Hopefully next week's 1Y T-bill auction will fetch a high COY as well with yesterday's hot US inflation figures!

MAS April MPC Statement: https://www.mas.gov.sg/news/monetary-policy...atement-12apr24

Next T-bill is 1-year tenor. Bid will close at 9 pm on the 17th of April (next Wednesday).

Yup me too. 6-month T-bill BS23120A auctioned on 12 October last year with COY 3.87% p.a. back then.

This week's MAS Bill auction results:

Tenure	4-week	12-week
Cut-off yield	3.82%	3.83%
Median yield	3.75%	3.79%
Average yield	3.47%	3.48%
BTC ratio	2.16	2.07

Source:

4-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2024-04-19

12-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2024-04-19

COYs remain below 3.9%...

I manage to book NTU business library's Bloomberg terminal yesterday for today's slot at around 6pm.

Will report back the market figures around 6pm-6.30pm.

Stay tuned!

6-6.30 pm...

Don't kancheong... I will leave my hostel in a couple of minutes yea...

1Y T-bill auction closes at 9 pm today. Some reference figures:

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Offshore SGD implied yield based on SG OIS SORA and US SOFR reference curve: 3.43% - 3.46% p.a.



Onshore SGD implied yield based on same condition as above: 3.71-3.74% p.a.



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MAS published last bid quote (by primary dealers) of BY24100T maturing 28 Jan 2025: 3.54% p.a.

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

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Bloomberg I107 (SGD Singapore Sovereign Yield Curve) Plot using GC function suggests ask YTM of 3.477% p.a.



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I will bid 3.5% p.a., 2k SGD from OCBC.

Today's 1Y bill auction result:

% of Competitive Applications at Cut-off Allotted	Approximately 27%
% of Non-Competitive Applications Allotted	100%
Bid-to-Cover Ratio	1.97
Cut-off Yield (Price)	3.58% p.a. (96.43)
Median Yield (Price)	3.4% p.a. (96.609)
Average Yield (Price)	3.28% p.a. (96.729)

Source: https://www.mas.gov.sg/bonds-and-bills/auct...date=2024-04-23

Cold auction, COY looks about right.

If you don't bring the money back to Malaysia, then no need to declare it in your BE form.

If you bring it back, then declare it in the relevant section in your BE form.

No tax for individuals until 31 Dec 2026.

https://www.pwc.com/my/en/perspective/tax/2...d-from-tax.html

T-bill yields could stay above 3% and remain an investment option for cash and CPF funds: Analysts

https://www.straitstimes.com/business/t-bil...ds-say-analysts

The upcoming June 2024 SSB give pretty good rates:

https://www.ilovessb.com/projection/SBJUN24


This post has been edited by TOS: Apr 23 2024, 09:02 AM

I need to attend a workshop till 8 pm tomorrow and grab some free food during the buffet dinner, so I won't be checking Bloomberg. You guys can just refer to MAS primary dealer's quote over here: https://eservices.mas.gov.sg/statistics/fda...ssuePrices.aspx

around 6pm and minus some 10-15 basis points from the quoted yield to obtain the ask yield, should work pretty well.

This post has been edited by TOS: Apr 23 2024, 03:31 PM