6-Month T-bill BS24123F (21 Nov 2024) Closing Soon
14 Nov 2024 (Updated: 19 Nov 2024)
6-Month T-bill BS24123F is open for application from 14 Nov 2024. Auction will be conducted on 21 Nov 2024.
A total of $7.0B is offered for this issue, higher than that of $6.8B for the previous issue, BS24122E (07 Nov 2024).
Application typically closes on 20 Nov 2024. Remaining days for you to apply:
- 19 Nov 2024, Tuesday
- 20 Nov 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
- 14 Nov 2024 Notify me
- Closing Date (Typical)
- 20 Nov 2024 Remind me
- Auction Date
- 21 Nov 2024 Notify me
- Issue Date
- 26 Nov 2024
- Maturity Date
- 27 May 2025
- Issue Code
- BS24123F
- ISIN Code
- SGXZ28140713
- Total Amount Offered
- $7,000,000,000
Upcoming Auctions
| Announcement | Auction | Issue | Maturity | Code | ISIN |
|---|---|---|---|---|---|
| 28 Nov 2024 | 05 Dec 2024 | 10 Dec 2024 | 10 Jun 2025 | BS24124Z | SGXZ29257813 |
| 12 Dec 2024 | 19 Dec 2024 | 24 Dec 2024 | 24 Jun 2025 | BS24125S | SGXZ30036156 |
| 24 Dec 2024 | 02 Jan 2025 | 07 Jan 2025 | 08 Jul 2025 | BS25100E | SGXZ48768006 |
| 09 Jan 2025 | 16 Jan 2025 | 21 Jan 2025 | 22 Jul 2025 | BS25101F | SGXZ52757945 |
Recent SGS Benchmark Yield
| Date | 12 Nov 2024 | 13 Nov 2024 | 14 Nov 2024 | 15 Nov 2024 | 18 Nov 2024 |
|---|---|---|---|---|---|
| 6-Month Yield (%) | 3.01 | 3.01 | 3.01 | 3.01 | 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 (%) |
|---|---|---|---|---|
| 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 |
| 24 Oct 2024 | BS24121A | 2.99 | 3.01 | -0.02 |
| 07 Nov 2024 | BS24122E | 3.04 | 2.99 | 0.05 |
Cut-Off Yield had been in the range of -0.21 to 0.06 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 (%) |
|---|---|---|---|---|
| 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 |
| 24 Oct 2024 | BS24121A | 2.99 | 2.93 | 2.84 |
| 07 Nov 2024 | BS24122E | 3.04 | 2.95 | 2.72 |
Total Amount Offered, Total Amount Applied, Bid-to-Cover Ratio
| Auction Date | Issue Code | Total Amount Offered | Total Amount Applied | Bid-to-Cover Ratio |
|---|---|---|---|---|
| 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 |
| 24 Oct 2024 | BS24121A | $6,800,000,000 | $13,526,594,000 | 1.99 |
| 07 Nov 2024 | BS24122E | $6,800,000,000 | $12,349,928,000 | 1.82 |
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 |
|---|---|---|---|---|---|
| 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% |
| 24 Oct 2024 | BS24121A | $6,800,000,000 | $1,449,214,000 | 21.31% | 100.00% |
| 07 Nov 2024 | BS24122E | $6,800,000,000 | $1,645,733,000 | 24.20% | 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 (SBDEC24) has a 10-year average return of 2.81% p.a. View Details
The next SSB (SBJAN25) is projected to have a higher 10-year average return. View Projection