6-Month T-bill BS24110T (23 May 2024) Closing Soon

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15 May 2024 (Updated: 20 May 2024)

6-Month T-bill BS24110T is open for application from 15 May 2024. Auction will be conducted on 23 May 2024.

A total of $7.0B is offered for this issue, higher than that of $6.8B for the previous issue, BS24109A (09 May 2024).

Application typically closes on 21 May 2024. Remaining days for you to apply:

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.

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Auction Open

Announcement Date
15 May 2024 Notify me
Closing Date (Typical)
21 May 2024 Remind me
Auction Date
23 May 2024 Notify me
Issue Date
28 May 2024
Maturity Date
26 Nov 2024
Issue Code
Total Amount Offered

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Recent SGS Benchmark Yield

Date14 May 202415 May 202416 May 202417 May 202420 May 2024
6-Month Yield (%)3.703.703.703.703.70

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 6-Month 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 DateIssue CodeCut-Off Yield (%)Previous Day Benchmark Yield (%)Difference (%)
04 Jan 2024BS24100F3.743.77-0.03
18 Jan 2024BS24101Z3.703.76-0.06
01 Feb 2024BS24102S3.543.70-0.16
15 Feb 2024BS24103H3.663.580.08
29 Feb 2024BS24104T3.803.610.19
14 Mar 2024BS24105X3.783.700.08
27 Mar 2024BS24106W3.803.740.06
11 Apr 2024BS24107N3.753.750.00
25 Apr 2024BS24108V3.743.75-0.01
09 May 2024BS24109A3.703.75-0.05

Cut-Off Yield had been in the range of -0.16 to 0.19 of Previous Day Benchmark Yield in the auctions above.

Cut-Off Yield, Median Yield, Average Yield

Auction DateIssue CodeCut-Off Yield (%)Median Yield (%)Average Yield (%)
04 Jan 2024BS24100F3.743.553.06
18 Jan 2024BS24101Z3.703.603.11
01 Feb 2024BS24102S3.543.212.63
15 Feb 2024BS24103H3.663.483.00
29 Feb 2024BS24104T3.803.502.95
14 Mar 2024BS24105X3.783.603.30
27 Mar 2024BS24106W3.803.613.34
11 Apr 2024BS24107N3.753.653.39
25 Apr 2024BS24108V3.743.653.40
09 May 2024BS24109A3.703.553.13

Total Amount Offered, Total Amount Applied, Bid-to-Cover Ratio

Auction DateIssue CodeTotal Amount OfferedTotal Amount AppliedBid-to-Cover Ratio
04 Jan 2024BS24100F$6,100,000,000$12,764,310,0002.09
18 Jan 2024BS24101Z$6,400,000,000$13,551,553,0002.12
01 Feb 2024BS24102S$6,300,000,000$14,625,066,0002.32
15 Feb 2024BS24103H$6,600,000,000$13,519,977,0002.05
29 Feb 2024BS24104T$6,400,000,000$12,446,564,0001.94
14 Mar 2024BS24105X$6,300,000,000$14,440,944,0002.29
27 Mar 2024BS24106W$6,100,000,000$15,562,929,0002.55
11 Apr 2024BS24107N$6,300,000,000$15,980,300,0002.54
25 Apr 2024BS24108V$6,600,000,000$14,390,615,0002.18
09 May 2024BS24109A$6,800,000,000$16,296,958,0002.40

Total Amount Allotted, Amount (%) Allotted to Non-Competitive Applications

Auction DateIssue CodeTotal Amount AllottedAmount Allotted to Non-Competitive Applications% Allotted to Non-Competitive Applications% of Non-Competitive Applications Allotted
04 Jan 2024BS24100F$6,100,000,000$2,391,421,00039.20%100.00%
18 Jan 2024BS24101Z$6,400,000,000$2,560,000,00040.00%87.75%
01 Feb 2024BS24102S$6,300,000,000$2,153,068,00034.18%100.00%
15 Feb 2024BS24103H$6,600,000,000$1,960,843,00029.71%100.00%
29 Feb 2024BS24104T$6,400,000,000$2,351,833,00036.75%100.00%
14 Mar 2024BS24105X$6,300,000,000$2,520,000,00040.00%96.81%
27 Mar 2024BS24106W$6,100,000,000$2,440,000,00040.00%94.59%
11 Apr 2024BS24107N$6,300,000,000$2,520,000,00040.00%88.78%
25 Apr 2024BS24108V$6,600,000,000$2,640,000,00040.00%96.60%
09 May 2024BS24109A$6,800,000,000$2,720,000,00040.00%81.69%

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%.

SSB News

The latest SSB (SBJUN24) has a 10-year average return of 3.33% p.a. View Details

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