This week's MAS Bill auction results:

Tenure	4-week	12-week
Cut-off yield	4.13%	4.14%
Median yield	3.95%	4.05%
Average yield	3.53%	3.57%
BTC ratio	1.76	1.92

Source:

4-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-10-27

12-week: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-10-27

Tomorrow 9pm is 6M T-bill application deadline. Bloomberg screenshots will be provided around 5.30-6 pm. Stay tuned!

tos thank you for keeping this thread alive. That said my interests is pigued with bonds as based on rule 110 I should allocate 30% to bonds.

Looking to get sg bonds as I have no hope for myr now

Hi. I will advise you not to read in to those funny rules too much...

We all have different risk profiles. How much percentage of your portfolio should be allocated to stocks, bonds, cash etc. is a matter of personal preference (due to various factors such as age, needs, prevalent and expected macroeconomic environments etc.)

Back to SG bonds, you will need a CDP account AND a bank account with DBS/UOB/OCBC to buy SG T-bills/notes/bonds.

Prerequisite for having a CDP account is you need to have an address in SG (can be your family members' address, you don't have to buy an HDB flat here...)

Hope that helps.

Thank you tos. You are doing God's work by helping the uneducated like me

TOS But do you need to be residing in Singapore for that (not talking about PR status)? Am afraid that even if we can get a Sg address but if we are not residing in Singapore, then its illegal.

Foreigners allowed to buy t-bill and ssb.

Initially when you open your CDP account yes, you need to be resident in SG (student/work pass etc.).

Once your CDP account is set up, and DBS/UOB/OCBC account is opened, you can move to anywhere you like and continue to buy SG T-bills. You may change your address to somewhere outside SG also if needed. Nothing illegal.

Thanks.

Here we go again!

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

Offshore SGD implied yield based on SG OIS SORA and US SOFR reference curve: 3.74% - 3.81% p.a.



Onshore SGD implied yield based on same condition as above: 4.00-4.03% p.a.



MAS published last bid quote (by primary dealers) of BS23120A maturing 16 April 2024: 3.87% p.a.

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

Looking at above figures, I will bid 3.8% p.a. This time I bid 2000 SGD from OCBC.

T-bills FAQ

https://investmentmoats.com/saving-and-inve...ills-sgs-bonds/

Today's 6M bill auction result:

% of Competitive Applications at Cut-off Allotted	Approximately 84 %
% of Non-Competitive Applications Allotted	100%
Bid-to-Cover Ratio	2.02
Cut-off Yield (Price)	3.95% p.a. (98.03)
Median Yield (Price)	3.77% p.a. (98.12)
Average Yield (Price)	3.6% p.a. (98.205)

Source: https://www.mas.gov.sg/bonds-and-bills/auct...date=2023-10-31

Just shy of 4%...

I bid 3.9% and got all, so is all my NC tranche.

Can buy through FSM SG as well, right, without all this hassle? But will be from market and not new issue.

Yes. It will be from secondary market... But there are charges:



If a retail investor bought one lot of SG T-bill at 1000 SGD principal value, 10 SGD is 1%. Assuming you are buying a 6-month T-bill at 4% yield, you lose half of your returns in fees to iFAST. Your annualized return drops to 2% p.a. only. You are better off parking your money in CIMB SG fake "3.5%" promo and treat it as a liquid saving account, giving you about 2.6-2.7% p.a.

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

Another big issue is your holdings are not under your own name (in your own CDP account). Instead it's held under iFAST's own name (street name account).

iFAST is both a custodian and service provider of your securities. So if it goes bankrupt, you will have to go to Singapore court and show that you have a private agreement with iFAST to claim back your money.

You know lah, the lawyer fees won't be cheap and everything is in SGD...

Didn't realize that. Thanks for the below quote also

"Processing Fee: 0.1% of nominal value for each buy/sell order, subject to a minimum of SGD10 and GST.
Platform Fee: 0.025% per quarter, calculated on a daily average market value of bonds, subject to GST."

I've been looking at some of the websites teaching on how to open a CDP account. 2 of them didn't mention needing Singapore address (as what you mentioned) or needing to stay in Singapore. Could it be now they change the rules?

Am tempted to try to open CDP account through a Singapore bank by putting my Malaysian address to see whether can pass. But then scared wait the bank kick me out as their customer for thinking I'm trying to cheat

Yes, the charges are quite transparent in FSM. Also, YTM, total return, etc., provided.

Noted on the risk. Thanks.

Can you share the 2 website links?

If you really want to try, you can give it a go at this website: https://investors.sgx.com/cdp-account-openi...line-form-intro

Edited
TOS Sorry, didn't save the website and can't remember them already. Could be they just chose not to mention need Singapore address? If anybody reading this and not residing in Singapore and not working/studying there and successfully open CDP account, pls let us know here.

Edit : managed to find 1 of the website/

How To Open A CDP Account?

Opening a CDP account is a fairly simple process. Before you apply for one, ensure that you meet the following eligibility criteria.

You must be 18 years old and above;
You must not be an un-discharged bankrupt; and
You must have a bank account with one of the following banks in Singapore – Citibank, DBS/POSB, HSBC, Maybank, OCBC, Standard Chartered Bank and UOB
...

Offline Application

Step 1: Download and complete the CDP application form on the SGX website.

The form can be found on the SGX website. Here’s the link for easy access.

Step 2: Print a photocopy of your Singapore NRIC, Malaysia Identification Card, or Passport.

Investors, both local and foreign, can open a CDP account.

Step 3: Attach one of the three following original documents or e-statements, dated within last 3 month, to your application form.

This can be either your bank statement from any of the Monetary Authority of Singapore (MAS) licensed banks

Or

Your Central Provident Fund (CPF) statement (available on the CPF website)

Or

Your Latest Notice of Assessment for Income tax (available on the IRAS website)

Step 4: Submit the signed application form and supporting documents through one of the following channels

https://dollarsandsense.sg/step-step-guide-...ount-singapore/

This post has been edited by abcn1n: Oct 28 2023, 10:26 PM

I see, indeed it is not stated but the article is simplified, it doesn't cover all the aspects of applications. During the application process, CDP will ask you to submit the following proofs, just follow the CDP's requirement and you will be fine.



Moneyandsense website is not something you want to read too much into... someone from HWZ mentioned before that the quality of the articles there are not that good. Lots of sponsorships...

Thanks.