1-Year T-bill (BY24103N) will close for application today! If you wish to apply, please do so by 9pm.
1-Year T-bill BY24103N (17 Oct 2024) Closing Soon
10 Oct 2024 (Updated: 16 Oct 2024)
1-Year T-bill BY24103N is open for application from 10 Oct 2024. Auction will be conducted on 17 Oct 2024.
A total of $5.2B is offered for this issue, higher than that of $5.1B for the previous issue, BY24102W (25 Jul 2024).
Application typically closes on 16 Oct 2024. Remaining days for you to apply:
- 16 Oct 2024, Wednesday (last day, apply by 9pm)
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
- 10 Oct 2024 Notify me
- Closing Date (Typical)
- 16 Oct 2024 Remind me
- Auction Date
- 17 Oct 2024 Notify me
- Issue Date
- 22 Oct 2024
- Maturity Date
- 21 Oct 2025
- Issue Code
- BY24103N
- ISIN Code
- SGXZ73155558
- Total Amount Offered
- $5,200,000,000
Upcoming Auctions
No auction announced.
Recent SGS Benchmark Yield
| Date | 09 Oct 2024 | 10 Oct 2024 | 11 Oct 2024 | 14 Oct 2024 | 15 Oct 2024 |
|---|---|---|---|---|---|
| 1-Year Yield (%) | 3.04 | 3.04 | 3.04 | 3.04 | 3.03 |
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 (%) |
|---|---|---|---|---|
| 13 Apr 2022 | BY22101N | 2.00 | 1.11 | 0.89 |
| 21 Jul 2022 | BY22102V | 3.10 | 2.66 | 0.44 |
| 13 Oct 2022 | BY22103A | 3.72 | 3.33 | 0.39 |
| 26 Jan 2023 | BY23100X | 3.87 | 4.07 | -0.20 |
| 20 Apr 2023 | BY23101W | 3.58 | 3.71 | -0.13 |
| 27 Jul 2023 | BY23102N | 3.74 | 3.66 | 0.08 |
| 19 Oct 2023 | BY23103V | 3.70 | 3.82 | -0.12 |
| 25 Jan 2024 | BY24100T | 3.45 | 3.74 | -0.29 |
| 18 Apr 2024 | BY24101X | 3.58 | 3.54 | 0.04 |
| 25 Jul 2024 | BY24102W | 3.38 | 3.59 | -0.21 |
Cut-Off Yield had been in the range of -0.29 to 0.89 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 (%) |
|---|---|---|---|---|
| 13 Apr 2022 | BY22101N | 2.00 | 1.58 | 1.49 |
| 21 Jul 2022 | BY22102V | 3.10 | 2.96 | 2.82 |
| 13 Oct 2022 | BY22103A | 3.72 | 3.30 | 3.28 |
| 26 Jan 2023 | BY23100X | 3.87 | 3.78 | 3.53 |
| 20 Apr 2023 | BY23101W | 3.58 | 3.50 | 3.27 |
| 27 Jul 2023 | BY23102N | 3.74 | 3.50 | 3.09 |
| 19 Oct 2023 | BY23103V | 3.70 | 3.55 | 3.32 |
| 25 Jan 2024 | BY24100T | 3.45 | 3.40 | 3.13 |
| 18 Apr 2024 | BY24101X | 3.58 | 3.40 | 3.28 |
| 25 Jul 2024 | BY24102W | 3.38 | 3.16 | 2.84 |
Total Amount Offered, Total Amount Applied, Bid-to-Cover Ratio
| Auction Date | Issue Code | Total Amount Offered | Total Amount Applied | Bid-to-Cover Ratio |
|---|---|---|---|---|
| 13 Apr 2022 | BY22101N | $3,800,000,000 | $5,519,839,000 | 1.45 |
| 21 Jul 2022 | BY22102V | $3,700,000,000 | $8,619,057,000 | 2.33 |
| 13 Oct 2022 | BY22103A | $3,700,000,000 | $8,587,751,000 | 2.32 |
| 26 Jan 2023 | BY23100X | $3,600,000,000 | $10,477,816,000 | 2.91 |
| 20 Apr 2023 | BY23101W | $4,300,000,000 | $12,732,598,000 | 2.96 |
| 27 Jul 2023 | BY23102N | $4,400,000,000 | $9,277,171,000 | 2.11 |
| 19 Oct 2023 | BY23103V | $4,500,000,000 | $11,941,430,000 | 2.65 |
| 25 Jan 2024 | BY24100T | $4,500,000,000 | $14,372,396,000 | 3.19 |
| 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 |
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 |
|---|---|---|---|---|---|
| 13 Apr 2022 | BY22101N | $3,800,000,000 | $4,197,000 | 0.11% | 100.00% |
| 21 Jul 2022 | BY22102V | $3,700,000,000 | $90,796,000 | 2.45% | 100.00% |
| 13 Oct 2022 | BY22103A | $3,700,000,000 | $441,425,000 | 11.93% | 100.00% |
| 26 Jan 2023 | BY23100X | $3,600,000,000 | $643,873,000 | 17.89% | 100.00% |
| 20 Apr 2023 | BY23101W | $4,300,000,000 | $634,194,000 | 14.75% | 100.00% |
| 27 Jul 2023 | BY23102N | $4,400,000,000 | $797,243,000 | 18.12% | 100.00% |
| 19 Oct 2023 | BY23103V | $4,500,000,000 | $1,391,864,000 | 30.93% | 100.00% |
| 25 Jan 2024 | BY24100T | $4,500,000,000 | $1,774,494,000 | 39.43% | 100.00% |
| 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% |
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 (SBNOV24) has a 10-year average return of 2.56% p.a. View Details
The next SSB (SBDEC24) is projected to have a higher 10-year average return. View Projection