6-Month T-bill BS26114W (16 Jul 2026) Open
09 Jul 2026
6-Month T-bill BS26114W is open for application from 09 Jul 2026. Auction will be conducted on 16 Jul 2026.
A total of $8.8B is offered for this issue, higher than that of $8.7B for the previous issue, BS26113X (02 Jul 2026).
Application typically closes on 15 Jul 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
- 09 Jul 2026 Notify me
- Closing Date (Typical)
- 15 Jul 2026 Remind me
- Auction Date
- 16 Jul 2026 Notify me
- Issue Date
- 21 Jul 2026
- Maturity Date
- 19 Jan 2027
- Issue Code
- BS26114W
- ISIN Code
- SGXZ82264284
- Total Amount Offered
- $8,800,000,000
Upcoming Auctions
| Announcement | Auction | Issue | Maturity | Code | ISIN |
|---|---|---|---|---|---|
| 23 Jul 2026 | 30 Jul 2026 | 04 Aug 2026 | 02 Feb 2027 | BS26115N | SGXZ41229063 |
| 05 Aug 2026 | 13 Aug 2026 | 18 Aug 2026 | 16 Feb 2027 | BS26116V | SGXZ52105533 |
| 20 Aug 2026 | 27 Aug 2026 | 01 Sep 2026 | 02 Mar 2027 | BS26117A | SGXZ57738213 |
Recent SGS Benchmark Yield
| Date | 03 Jul 2026 | 06 Jul 2026 | 07 Jul 2026 | 08 Jul 2026 | 09 Jul 2026 |
|---|---|---|---|---|---|
| 6-Month Yield (%) | 1.49 | 1.49 | 1.49 | 1.49 | 1.49 |
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 Date | Issue Code | Cut-Off Yield (%) | Previous Day Benchmark Yield (%) | Difference (%) |
|---|---|---|---|---|
| 26 Feb 2026 | BS26104S | 1.36 | 1.34 | 0.02 |
| 12 Mar 2026 | BS26105H | 1.37 | 1.35 | 0.02 |
| 26 Mar 2026 | BS26106T | 1.46 | 1.37 | 0.09 |
| 09 Apr 2026 | BS26107X | 1.47 | 1.38 | 0.09 |
| 23 Apr 2026 | BS26108W | 1.40 | 1.44 | -0.04 |
| 07 May 2026 | BS26109N | 1.40 | 1.40 | 0.00 |
| 21 May 2026 | BS26110S | 1.45 | 1.40 | 0.05 |
| 04 Jun 2026 | BS26111H | 1.48 | 1.40 | 0.08 |
| 18 Jun 2026 | BS26112T | 1.47 | 1.45 | 0.02 |
| 02 Jul 2026 | BS26113X | 1.50 | 1.46 | 0.04 |
Cut-Off Yield had been in the range of -0.04 to 0.09 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 2026 | BS26104S | 1.36 | 1.32 | 1.25 |
| 12 Mar 2026 | BS26105H | 1.37 | 1.29 | 1.23 |
| 26 Mar 2026 | BS26106T | 1.46 | 1.39 | 1.30 |
| 09 Apr 2026 | BS26107X | 1.47 | 1.41 | 1.35 |
| 23 Apr 2026 | BS26108W | 1.40 | 1.37 | 1.30 |
| 07 May 2026 | BS26109N | 1.40 | 1.34 | 1.25 |
| 21 May 2026 | BS26110S | 1.45 | 1.38 | 1.32 |
| 04 Jun 2026 | BS26111H | 1.48 | 1.41 | 1.32 |
| 18 Jun 2026 | BS26112T | 1.47 | 1.43 | 1.32 |
| 02 Jul 2026 | BS26113X | 1.50 | 1.45 | 1.38 |
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 2026 | BS26104S | $8,200,000,000 | $17,554,774,000 | 2.14 |
| 12 Mar 2026 | BS26105H | $8,300,000,000 | $17,276,754,000 | 2.08 |
| 26 Mar 2026 | BS26106T | $8,200,000,000 | $16,384,835,000 | 2.00 |
| 09 Apr 2026 | BS26107X | $8,400,000,000 | $14,590,434,000 | 1.74 |
| 23 Apr 2026 | BS26108W | $8,400,000,000 | $19,232,187,000 | 2.29 |
| 07 May 2026 | BS26109N | $8,500,000,000 | $17,465,037,000 | 2.05 |
| 21 May 2026 | BS26110S | $8,500,000,000 | $18,044,724,000 | 2.12 |
| 04 Jun 2026 | BS26111H | $8,500,000,000 | $14,076,744,000 | 1.66 |
| 18 Jun 2026 | BS26112T | $8,200,000,000 | $19,358,320,000 | 2.36 |
| 02 Jul 2026 | BS26113X | $8,700,000,000 | $17,380,087,000 | 2.00 |
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 2026 | BS26104S | $8,200,000,000 | $1,154,540,000 | 14.08% | 100.00% |
| 12 Mar 2026 | BS26105H | $8,300,000,000 | $1,169,571,000 | 14.09% | 100.00% |
| 26 Mar 2026 | BS26106T | $8,200,000,000 | $1,324,099,000 | 16.15% | 100.00% |
| 09 Apr 2026 | BS26107X | $8,400,000,000 | $1,339,159,000 | 15.94% | 100.00% |
| 23 Apr 2026 | BS26108W | $8,400,000,000 | $1,269,662,000 | 15.12% | 100.00% |
| 07 May 2026 | BS26109N | $8,500,000,000 | $1,412,575,000 | 16.62% | 100.00% |
| 21 May 2026 | BS26110S | $8,500,000,000 | $1,352,503,000 | 15.91% | 100.00% |
| 04 Jun 2026 | BS26111H | $8,500,000,000 | $1,463,841,000 | 17.22% | 100.00% |
| 18 Jun 2026 | BS26112T | $8,200,000,000 | $1,508,178,000 | 18.39% | 100.00% |
| 02 Jul 2026 | BS26113X | $8,700,000,000 | $1,519,917,000 | 17.47% | 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 (SBAUG26) has a 10-year average return of 2.06% p.a. View Details
The next SSB (SBSEP26) is projected to have a higher 10-year average return. View Projection