1-Year T-bill BY26103X (15 Oct 2026) Open
08 Oct 2026
1-Year T-bill BY26103X is open for application from 08 Oct 2026. Auction will be conducted on 15 Oct 2026.
A total of $6.4B is offered for this issue, higher than that of $6.3B for the previous issue, BY26102T (23 Jul 2026).
Application typically closes on 14 Oct 2026. CPF application may close a business day earlier. Closing date and time may vary from bank to bank. Please check with your bank for the exact cut-off time.
Auction Open
- Announcement Date
- 08 Oct 2026 Notify me
- Closing Date (Typical)
- 14 Oct 2026 Remind me
- Auction Date
- 15 Oct 2026 Notify me
- Issue Date
- 20 Oct 2026
- Maturity Date
- 19 Oct 2027
- Issue Code
- BY26103X
- ISIN Code
- SGXZ13198437
- Total Amount Offered
- $6,400,000,000
Upcoming Auctions
No auction announced.
Recent SGS Benchmark Yield
| Date | 05 Oct 2026 | 06 Oct 2026 | 07 Oct 2026 | 08 Oct 2026 | 09 Oct 2026 |
|---|---|---|---|---|---|
| 1-Year Yield (%) | 1.73 | 1.73 | 1.73 | 1.74 | 1.74 |
Source: Daily SGS Prices (MAS)
If you wish to submit a competitive bid for this issue, you need to know what is the fair rate. The 1-Year SGS benchmark yield reflects the bid rate quoted by SGS primary dealers. It provides an indication of the current market rate.
Nonetheless, the cut-off yield will be determined through an auction (ie. depends on demand). You may take hints from the statistics below and see how the cut-off yield compared with previous day benchmark yield in past auctions.
Auction Statistics (Last 10 Auctions in The Last 4 Years)
Cut-Off Yield, Previous Day Benchmark Yield
| Auction Date | Issue Code | Cut-Off Yield (%) | Previous Day Benchmark Yield (%) | Difference (%) |
|---|---|---|---|---|
| 18 Apr 2024 | BY24101X | 3.58 | 3.54 | 0.04 |
| 25 Jul 2024 | BY24102W | 3.38 | 3.59 | -0.21 |
| 17 Oct 2024 | BY24103N | 2.71 | 3.02 | -0.31 |
| 23 Jan 2025 | BY25100H | 2.95 | 2.81 | 0.14 |
| 16 Apr 2025 | BY25101T | 2.29 | 2.36 | -0.07 |
| 24 Jul 2025 | BY25102X | 1.68 | 1.71 | -0.03 |
| 15 Oct 2025 | BY25103W | 1.35 | 1.35 | 0.00 |
| 22 Jan 2026 | BY26100S | 1.44 | 1.36 | 0.08 |
| 16 Apr 2026 | BY26101H | 1.46 | 1.46 | 0.00 |
| 23 Jul 2026 | BY26102T | 1.68 | 1.46 | 0.22 |
Cut-Off Yield had been in the range of -0.31 to 0.22 of Previous Day Benchmark Yield in the auctions above.
Cut-Off Yield, Median Yield, Average Yield
| Auction Date | Issue Code | Cut-Off Yield (%) | Median Yield (%) | Average Yield (%) |
|---|---|---|---|---|
| 18 Apr 2024 | BY24101X | 3.58 | 3.40 | 3.28 |
| 25 Jul 2024 | BY24102W | 3.38 | 3.16 | 2.84 |
| 17 Oct 2024 | BY24103N | 2.71 | 2.60 | 2.47 |
| 23 Jan 2025 | BY25100H | 2.95 | 2.83 | 2.72 |
| 16 Apr 2025 | BY25101T | 2.29 | 2.13 | 2.11 |
| 24 Jul 2025 | BY25102X | 1.68 | 1.60 | 1.44 |
| 15 Oct 2025 | BY25103W | 1.35 | 1.20 | 1.16 |
| 22 Jan 2026 | BY26100S | 1.44 | 1.33 | 1.27 |
| 16 Apr 2026 | BY26101H | 1.46 | 1.38 | 1.31 |
| 23 Jul 2026 | BY26102T | 1.68 | 1.58 | 1.44 |
Total Amount Offered, Total Amount Applied, Bid-to-Cover Ratio
| Auction Date | Issue Code | Total Amount Offered | Total Amount Applied | Bid-to-Cover Ratio |
|---|---|---|---|---|
| 18 Apr 2024 | BY24101X | $5,100,000,000 | $10,052,473,000 | 1.97 |
| 25 Jul 2024 | BY24102W | $5,100,000,000 | $15,033,038,000 | 2.95 |
| 17 Oct 2024 | BY24103N | $5,200,000,000 | $14,697,623,000 | 2.83 |
| 23 Jan 2025 | BY25100H | $5,400,000,000 | $10,106,272,000 | 1.87 |
| 16 Apr 2025 | BY25101T | $5,300,000,000 | $11,183,372,000 | 2.11 |
| 24 Jul 2025 | BY25102X | $5,500,000,000 | $11,260,267,000 | 2.05 |
| 15 Oct 2025 | BY25103W | $5,800,000,000 | $13,114,427,000 | 2.26 |
| 22 Jan 2026 | BY26100S | $6,100,000,000 | $12,146,028,000 | 1.99 |
| 16 Apr 2026 | BY26101H | $6,000,000,000 | $12,359,190,000 | 2.06 |
| 23 Jul 2026 | BY26102T | $6,300,000,000 | $13,370,407,000 | 2.12 |
Total Amount Allotted, Amount (%) Allotted to Non-Competitive Applications
| Auction Date | Issue Code | Total Amount Allotted | Amount Allotted to Non-Competitive Applications | % Allotted to Non-Competitive Applications | % of Non-Competitive Applications Allotted |
|---|---|---|---|---|---|
| 18 Apr 2024 | BY24101X | $5,100,000,000 | $1,232,618,000 | 24.17% | 100.00% |
| 25 Jul 2024 | BY24102W | $5,100,000,000 | $1,483,542,000 | 29.09% | 100.00% |
| 17 Oct 2024 | BY24103N | $5,200,000,000 | $826,470,000 | 15.89% | 100.00% |
| 23 Jan 2025 | BY25100H | $5,400,000,000 | $691,521,000 | 12.81% | 100.00% |
| 16 Apr 2025 | BY25101T | $5,300,000,000 | $473,309,000 | 8.93% | 100.00% |
| 24 Jul 2025 | BY25102X | $5,500,000,000 | $476,962,000 | 8.67% | 100.00% |
| 15 Oct 2025 | BY25103W | $5,800,000,000 | $361,676,000 | 6.24% | 100.00% |
| 22 Jan 2026 | BY26100S | $6,100,000,000 | $417,176,000 | 6.84% | 100.00% |
| 16 Apr 2026 | BY26101H | $6,000,000,000 | $490,928,000 | 8.18% | 100.00% |
| 23 Jul 2026 | BY26102T | $6,300,000,000 | $519,995,000 | 8.25% | 100.00% |
Non-competitive bids will be allotted first, up to 40% of the total issuance amount. If the amount of non-competitive bids exceeds 40%, the bond will be allocated on a pro-rated basis. This means, when % Allotted to Non-Competitive Applications reaches 40%, % of Non-Competitive Applications Allotted will be less than 100%.
The latest SSB (SBNOV26) has a 10-year average return of 2.45% p.a. View Details
The next SSB (SBDEC26) is projected to have a higher 10-year average return. View Projection