Today's 6M bill auction result:

% of Competitive Applications at Cut-off Allotted	Approximately 55%
% of Non-Competitive Applications Allotted	100%
Bid-to-Cover Ratio	2.03
Cut-off Yield (Price)	3.73% p.a. (98.14)
Median Yield (Price)	3.58% p.a. (98.215)
Average Yield (Price)	3.05% p.a. (98.479)

Source: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-09-19

OCBC's damn fast!



Got SMS notification as well!

Discount money also credited liao...



Next round gonna use OCBC. Time to say bye bye to DBS for T-bill application!

TOS Congrats. If Malaysian and NOT Singapore PR can still buy  T-bill through OCBC?

Yes, yes! Open to all nationalities, no need to be PR or Singaporean. All foreigners are welcomed, except those who fall into this list:

https://www.mas.gov.sg/regulation/anti-mone...ncial-sanctions

  Thanks. Last time I asked OCBC and they said everything can't including Singapore FD.  Am certainly looking to buying some Singapore T-bills and bonds but will likely only be able to do it next year

To buy T-bills, SGS or SSB, you need a CDP account plus a bank account with the primary dealers (either DBS, UOB and/or OCBC).

Also take note that we are "tiny" retail investors, so we can't access the secondary market like big institutional investors do. This illiquidity means you must be prepared to hold the T-bills/SGS till maturity. SSBs may be sold back to MAS every month, but will incur a 2 SGD service charge.

TOS Thanks for your help. Yikes, I don't have a CDP account. Will have to look into how to open one.

You have SG address? A bank statement showing a Singapore address will suffice.

So, the key thing is to open DBS/OCBC/UOB account with SG address. And to do that, you need a proof of SG residential address from your employer/university/school etc.

DBS/OCBC/UOB account with SG address -> guarantee can open SG CDP account.

TOS My address is Malaysian one. Guess can't open Sg CDP account then. Can't buy t-bonds or t-bills

Ok, just a tip: If you have family members in SG, you can use their address and tell your employer/uni/school that you stay at their place during student exchange or short working trip to SG.

Then the company/uni/school will issue a proof of residential address with your family member's SG address.

The biggest downside (as I discover now...) is lost of privacy and lots of letters spamming your relatives' mailbox (especially if you open DBS account ).

TOS Thanks but no such luck. Maybe 1 day, one of those fintech like stashaway may allow us to buy. Just found out that Stashaway allows to buy US ETF bonds.

Oh in this case you need intermediaries like ETF or MMF funds. SGD side a popular choice is Fullerton SGD Cash Fund (which invests in MAS bills instead of T-bills, together with SGD loans to other commercial banks). USD side can consider BIL ETF.

https://www.fullertonfund.com/funds/fullerton-sgd-cash-fund/ (can be purchased at FSM SG, Moneyowl (soon will be part of iFAST Global Markets), POEMS, Dollardex etc.)

https://www.ssga.com/us/en/intermediary/etf...-t-bill-etf-bil (available via major brokers e.g. IBKR, FSM MY/SG, Futu Moomoo, Tiger, Endowus, Stashaway, Syfe Trade, Webull, TD Ameritrade etc.)

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.