6-Month T-bill BS24113N (04 Jul 2024) Closing Soon
27 Jun 2024 (Updated: 01 Jul 2024)
6-Month T-bill BS24113N is open for application from 27 Jun 2024. Auction will be conducted on 04 Jul 2024.
A total of $6.5B is offered for this issue, lower than that of $6.6B for the previous issue, BS24112W (20 Jun 2024).
Application typically closes on 03 Jul 2024. Remaining days for you to apply:
- 01 Jul 2024, Monday
- 02 Jul 2024, Tuesday
- 03 Jul 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
- 27 Jun 2024 Notify me
- Closing Date (Typical)
- 03 Jul 2024 Remind me
- Auction Date
- 04 Jul 2024 Notify me
- Issue Date
- 09 Jul 2024
- Maturity Date
- 07 Jan 2025
- Issue Code
- BS24113N
- ISIN Code
- SGXZ29447257
- Total Amount Offered
- $6,500,000,000
Upcoming Auctions
| Announcement | Auction | Issue | Maturity | Code | ISIN |
|---|---|---|---|---|---|
| 11 Jul 2024 | 18 Jul 2024 | 23 Jul 2024 | 21 Jan 2025 | BS24114V | SGXZ57225237 |
| 25 Jul 2024 | 01 Aug 2024 | 06 Aug 2024 | 04 Feb 2025 | BS24115A | SGXZ93535995 |
| 07 Aug 2024 | 15 Aug 2024 | 20 Aug 2024 | 18 Feb 2025 | BS24116E | SGXZ19202407 |
| 22 Aug 2024 | 29 Aug 2024 | 03 Sep 2024 | 04 Mar 2025 | BS24117F | SGXZ56660376 |
Recent SGS Benchmark Yield
| Date | 24 Jun 2024 | 25 Jun 2024 | 26 Jun 2024 | 27 Jun 2024 | 28 Jun 2024 |
|---|---|---|---|---|---|
| 6-Month Yield (%) | 3.72 | 3.72 | 3.72 | 3.72 | 3.72 |
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 (%) |
|---|---|---|---|---|
| 15 Feb 2024 | BS24103H | 3.66 | 3.58 | 0.08 |
| 29 Feb 2024 | BS24104T | 3.80 | 3.61 | 0.19 |
| 14 Mar 2024 | BS24105X | 3.78 | 3.70 | 0.08 |
| 27 Mar 2024 | BS24106W | 3.80 | 3.74 | 0.06 |
| 11 Apr 2024 | BS24107N | 3.75 | 3.75 | 0.00 |
| 25 Apr 2024 | BS24108V | 3.74 | 3.75 | -0.01 |
| 09 May 2024 | BS24109A | 3.70 | 3.75 | -0.05 |
| 23 May 2024 | BS24110T | 3.65 | 3.70 | -0.05 |
| 06 Jun 2024 | BS24111X | 3.76 | 3.65 | 0.11 |
| 20 Jun 2024 | BS24112W | 3.74 | 3.71 | 0.03 |
Cut-Off Yield had been in the range of -0.05 to 0.19 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 (%) |
|---|---|---|---|---|
| 15 Feb 2024 | BS24103H | 3.66 | 3.48 | 3.00 |
| 29 Feb 2024 | BS24104T | 3.80 | 3.50 | 2.95 |
| 14 Mar 2024 | BS24105X | 3.78 | 3.60 | 3.30 |
| 27 Mar 2024 | BS24106W | 3.80 | 3.61 | 3.34 |
| 11 Apr 2024 | BS24107N | 3.75 | 3.65 | 3.39 |
| 25 Apr 2024 | BS24108V | 3.74 | 3.65 | 3.40 |
| 09 May 2024 | BS24109A | 3.70 | 3.55 | 3.13 |
| 23 May 2024 | BS24110T | 3.65 | 3.48 | 3.04 |
| 06 Jun 2024 | BS24111X | 3.76 | 3.50 | 3.15 |
| 20 Jun 2024 | BS24112W | 3.74 | 3.54 | 3.08 |
Total Amount Offered, Total Amount Applied, Bid-to-Cover Ratio
| Auction Date | Issue Code | Total Amount Offered | Total Amount Applied | Bid-to-Cover Ratio |
|---|---|---|---|---|
| 15 Feb 2024 | BS24103H | $6,600,000,000 | $13,519,977,000 | 2.05 |
| 29 Feb 2024 | BS24104T | $6,400,000,000 | $12,446,564,000 | 1.94 |
| 14 Mar 2024 | BS24105X | $6,300,000,000 | $14,440,944,000 | 2.29 |
| 27 Mar 2024 | BS24106W | $6,100,000,000 | $15,562,929,000 | 2.55 |
| 11 Apr 2024 | BS24107N | $6,300,000,000 | $15,980,300,000 | 2.54 |
| 25 Apr 2024 | BS24108V | $6,600,000,000 | $14,390,615,000 | 2.18 |
| 09 May 2024 | BS24109A | $6,800,000,000 | $16,296,958,000 | 2.40 |
| 23 May 2024 | BS24110T | $7,000,000,000 | $14,465,467,000 | 2.07 |
| 06 Jun 2024 | BS24111X | $7,100,000,000 | $14,220,283,000 | 2.00 |
| 20 Jun 2024 | BS24112W | $6,600,000,000 | $15,457,038,000 | 2.34 |
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 |
|---|---|---|---|---|---|
| 15 Feb 2024 | BS24103H | $6,600,000,000 | $1,960,843,000 | 29.71% | 100.00% |
| 29 Feb 2024 | BS24104T | $6,400,000,000 | $2,351,833,000 | 36.75% | 100.00% |
| 14 Mar 2024 | BS24105X | $6,300,000,000 | $2,520,000,000 | 40.00% | 96.81% |
| 27 Mar 2024 | BS24106W | $6,100,000,000 | $2,440,000,000 | 40.00% | 94.59% |
| 11 Apr 2024 | BS24107N | $6,300,000,000 | $2,520,000,000 | 40.00% | 88.78% |
| 25 Apr 2024 | BS24108V | $6,600,000,000 | $2,640,000,000 | 40.00% | 96.60% |
| 09 May 2024 | BS24109A | $6,800,000,000 | $2,720,000,000 | 40.00% | 81.69% |
| 23 May 2024 | BS24110T | $7,000,000,000 | $2,682,185,000 | 38.32% | 100.00% |
| 06 Jun 2024 | BS24111X | $7,100,000,000 | $2,840,000,000 | 40.00% | 91.40% |
| 20 Jun 2024 | BS24112W | $6,600,000,000 | $2,640,000,000 | 40.00% | 83.44% |
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 (SBJUL24) has a 10-year average return of 3.30% p.a. View Details
The next SSB (SBAUG24) is projected to have a lower 10-year average return. View Projection