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Many traders had been dissatisfied with the results of the most recent Singapore T-bill public sale. The cut-off yield on the 1-year T-bill (BY24100T) fell sharply to three.45% from 3.7% within the earlier public sale. It additionally represents a sharp decline from the closing yield of three.72% as of 24 January 2024. Supply: MAS The cut-off yield of three.45% for the 1-year Singapore T-bill would even be the bottom over the previous 12 months. Supply: MAS Allow us to dive deeper to know extra about what’s driving the decrease yield on the 1-year T-bill.
What we learnt from the most recent 1-year Singapore T-bill public sale
#1 – Surge in demand for contemporary T-bill
The entire quantity of functions for the most recent Singapore 1-year T-bill was at S$14.4 billion, more and more sharply from S$11.9 billion within the earlier public sale in October. The quantity of aggressive bids elevated to S$12.6 billion from S$10.5 billion within the…