30-Year SGS Bond NA21200W (27 Sep 2023) Cut-Off Yield 3.11%
27 Sep 2023
This issue offers investors a cut-off yield of 3.11% p.a., lower than that (3.28% p.a.) of the previous issue, NA21200W (28 Sep 2022).
The total value of applications in this auction was $3.3B, representing a bid-to-cover ratio of 2.20. This is lower than the $3.9B (bid-to-cover ratio 2.05) received in the previous issue.
Those who submitted non-competitive bids were fully allotted. On the other hand, those who submitted competitive bid at 3.11% get around 52.36% of the amount applied.
No auction announced.
Recent SGS Benchmark Yield
|Date||04 Dec 2023||05 Dec 2023||06 Dec 2023||07 Dec 2023||08 Dec 2023|
|30-Year Yield (%)||2.99||2.97||2.95||2.94||2.94|
Source: Daily SGS Prices (MAS)
The 30-Year SGS benchmark yield reflects the bid rate quoted by SGS primary dealers. It provides an indication of the current market rate.
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 (%)|
|26 Feb 2020||NA20100F||1.90||1.93||-0.03|
|27 Jan 2021||NA20100F||1.40||1.40||0.00|
|28 Sep 2021||NA21200W||1.95||1.92||0.03|
|28 Sep 2022||NA21200W||3.28||3.36||-0.08|
|27 Sep 2023||NA21200W||3.11||3.15||-0.04|
Cut-Off Yield had been in the range of -0.08 to 0.03 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 (%)|
|26 Feb 2020||NA20100F||1.90||1.85||1.70|
|27 Jan 2021||NA20100F||1.40||1.30||1.26|
|28 Sep 2021||NA21200W||1.95||1.89||1.84|
|28 Sep 2022||NA21200W||3.28||3.24||3.18|
|27 Sep 2023||NA21200W||3.11||3.10||2.98|
Total Amount Offered, Total Amount Applied, Bid-to-Cover Ratio
|Auction Date||Issue Code||Total Amount Offered||Total Amount Applied||Bid-to-Cover Ratio|
|26 Feb 2020||NA20100F||$2,300,000,000||$5,417,835,000||2.36|
|27 Jan 2021||NA20100F||$3,100,000,000||$5,610,711,000||1.81|
|28 Sep 2021||NA21200W||$2,600,000,000||$4,105,487,000||1.58|
|28 Sep 2022||NA21200W||$1,900,000,000||$3,888,506,000||2.05|
|27 Sep 2023||NA21200W||$1,500,000,000||$3,297,097,000||2.20|
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|
|26 Feb 2020||NA20100F||$2,300,000,000||$331,160,000||14.40%||100.00%|
|27 Jan 2021||NA20100F||$3,100,000,000||$553,124,000||17.84%||100.00%|
|28 Sep 2021||NA21200W||$2,600,000,000||$207,355,000||7.98%||100.00%|
|28 Sep 2022||NA21200W||$1,900,000,000||$101,594,000||5.35%||100.00%|
|27 Sep 2023||NA21200W||$1,500,000,000||$60,304,000||4.02%||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%.