6-Month T-bill BS24121A (24 Oct 2024) Open
17 Oct 2024
6-Month T-bill BS24121A is open for application from 17 Oct 2024. Auction will be conducted on 24 Oct 2024.
A total of $6.8B is offered for this issue, the same as that for the previous issue, BS24120V (10 Oct 2024).
Application typically closes on 23 Oct 2024. 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
- 17 Oct 2024 Notify me
- Closing Date (Typical)
- 23 Oct 2024 Remind me
- Auction Date
- 24 Oct 2024 Notify me
- Issue Date
- 29 Oct 2024
- Maturity Date
- 29 Apr 2025
- Issue Code
- BS24121A
- ISIN Code
- SGXZ65299968
- Total Amount Offered
- $6,800,000,000
Upcoming Auctions
| Announcement | Auction | Issue | Maturity | Code | ISIN |
|---|---|---|---|---|---|
| 30 Oct 2024 | 07 Nov 2024 | 12 Nov 2024 | 13 May 2025 | BS24122E | SGXZ72902281 |
| 14 Nov 2024 | 21 Nov 2024 | 26 Nov 2024 | 27 May 2025 | BS24123F | SGXZ28140713 |
| 28 Nov 2024 | 05 Dec 2024 | 10 Dec 2024 | 10 Jun 2025 | BS24124Z | SGXZ29257813 |
Recent SGS Benchmark Yield
| Date | 11 Oct 2024 | 14 Oct 2024 | 15 Oct 2024 | 16 Oct 2024 | 17 Oct 2024 |
|---|---|---|---|---|---|
| 6-Month Yield (%) | 3.03 | 3.03 | 3.03 | 3.03 | 3.01 |
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 (%) |
|---|---|---|---|---|
| 06 Jun 2024 | BS24111X | 3.76 | 3.65 | 0.11 |
| 20 Jun 2024 | BS24112W | 3.74 | 3.71 | 0.03 |
| 04 Jul 2024 | BS24113N | 3.70 | 3.72 | -0.02 |
| 18 Jul 2024 | BS24114V | 3.64 | 3.70 | -0.06 |
| 01 Aug 2024 | BS24115A | 3.40 | 3.60 | -0.20 |
| 15 Aug 2024 | BS24116E | 3.34 | 3.33 | 0.01 |
| 29 Aug 2024 | BS24117F | 3.13 | 3.34 | -0.21 |
| 12 Sep 2024 | BS24118Z | 3.10 | 3.11 | -0.01 |
| 26 Sep 2024 | BS24119S | 2.97 | 3.03 | -0.06 |
| 10 Oct 2024 | BS24120V | 3.06 | 3.00 | 0.06 |
Cut-Off Yield had been in the range of -0.21 to 0.11 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 (%) |
|---|---|---|---|---|
| 06 Jun 2024 | BS24111X | 3.76 | 3.50 | 3.15 |
| 20 Jun 2024 | BS24112W | 3.74 | 3.54 | 3.08 |
| 04 Jul 2024 | BS24113N | 3.70 | 3.40 | 2.81 |
| 18 Jul 2024 | BS24114V | 3.64 | 3.50 | 2.97 |
| 01 Aug 2024 | BS24115A | 3.40 | 3.30 | 2.85 |
| 15 Aug 2024 | BS24116E | 3.34 | 3.20 | 2.83 |
| 29 Aug 2024 | BS24117F | 3.13 | 3.00 | 2.62 |
| 12 Sep 2024 | BS24118Z | 3.10 | 3.01 | 2.90 |
| 26 Sep 2024 | BS24119S | 2.97 | 2.85 | 2.79 |
| 10 Oct 2024 | BS24120V | 3.06 | 2.90 | 2.76 |
Total Amount Offered, Total Amount Applied, Bid-to-Cover Ratio
| Auction Date | Issue Code | Total Amount Offered | Total Amount Applied | Bid-to-Cover Ratio |
|---|---|---|---|---|
| 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 |
| 04 Jul 2024 | BS24113N | $6,500,000,000 | $15,582,933,000 | 2.40 |
| 18 Jul 2024 | BS24114V | $6,800,000,000 | $15,666,218,000 | 2.30 |
| 01 Aug 2024 | BS24115A | $6,800,000,000 | $17,995,346,000 | 2.65 |
| 15 Aug 2024 | BS24116E | $6,900,000,000 | $16,014,152,000 | 2.32 |
| 29 Aug 2024 | BS24117F | $6,800,000,000 | $15,950,958,000 | 2.35 |
| 12 Sep 2024 | BS24118Z | $6,900,000,000 | $13,422,097,000 | 1.95 |
| 26 Sep 2024 | BS24119S | $6,800,000,000 | $13,920,478,000 | 2.05 |
| 10 Oct 2024 | BS24120V | $6,800,000,000 | $14,884,047,000 | 2.19 |
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 |
|---|---|---|---|---|---|
| 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% |
| 04 Jul 2024 | BS24113N | $6,500,000,000 | $2,600,000,000 | 40.00% | 70.80% |
| 18 Jul 2024 | BS24114V | $6,800,000,000 | $2,720,000,000 | 40.00% | 82.06% |
| 01 Aug 2024 | BS24115A | $6,800,000,000 | $2,637,059,000 | 38.78% | 100.00% |
| 15 Aug 2024 | BS24116E | $6,900,000,000 | $2,421,007,000 | 35.09% | 100.00% |
| 29 Aug 2024 | BS24117F | $6,800,000,000 | $2,110,829,000 | 31.04% | 100.00% |
| 12 Sep 2024 | BS24118Z | $6,900,000,000 | $1,711,475,000 | 24.80% | 100.00% |
| 26 Sep 2024 | BS24119S | $6,800,000,000 | $1,519,371,000 | 22.34% | 100.00% |
| 10 Oct 2024 | BS24120V | $6,800,000,000 | $1,383,065,000 | 20.34% | 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