Arghhhh.... Those kiasu kiasi bidders!!!


Source: https://www.mas.gov.sg/bonds-and-bills

T-bill rate has been spoiled by those using CPF OA so they bid low as long as above 2.5% they happy. Now CIMB SG 6 month onwards FD is 4% and above so I have placed there instead. Looking at other bank FD, Bank of China, ICBC China banks FD not bad and theirs can terminate FD via mobile app no need call in or go branch which is what I like. BOC minimum placement 5000 and ICBC 500 all best the Msian banks in Spore just their rates slower to match CIMB RHB etc

% of Competitive Applications at Cut-off Allotted	Approximately 82%
% of Non-Competitive Applications Allotted	100%
Bid-to-Cover Ratio	2.03
Cut-off Yield (Price)	4.4% p.a. (97.806)
Median Yield (Price)	3.85% p.a. (98.08)
Average Yield (Price)	3.73% p.a. (98.14)

Source: https://www.mas.gov.sg/bonds-and-bills/auct...date=2022-12-13

Minimum is 10k sgd right?

So looking at the offshore figures for Bloomberg's FXFA function, eurocurrency markets are pricing a 6-month SGD yield of 3.92-3.98% p.a.



Onshore SGD is yielding 4.24% p.a.



I think I will bid 4.1% p.a. for this 6 month T-bill, allowing for CPF hot money influx. The 1M and 3M MAS bill BTC ratio remains elevated at 2.5-2.6 times the offered amount today. Institutional investors are demanding a lot, retailers shouldn't be far behind.

DBS 5 month 3.9% min SGD20k promo code SR5A