2-year SGS Bond
NX00100T
Originally auctioned 29 Jun 2000 · Matures 01 Jul 2010 · matured left
Latest cutoff yield
1.05%
Auctioned 29 Jul 2008 (reopening) · median 0.00%
Issue details
- Fixed coupon:
- 4.63% · paid 01 Jul / 01 Jan
- Tenor:
- 2 years
- Outstanding:
- S$5.9B
- Auctions held:
- 4 (1 original + 3 reopenings)
Auction history for this issue
| Auction date | Type | Cutoff | Median | B/C | This auction |
|---|---|---|---|---|---|
| 29 Jul 2008 | reopen | 1.05% | 0.00% | 2.28 | S$1.4B |
| 28 Sept 2005 | reopen | 2.65% | 0.00% | 2.23 | S$1.1B |
| 26 Feb 2003 | reopen | 2.02% | 0.00% | 2.41 | S$1.0B |
| 29 Jun 2000 | new issue | 4.74% | 0.00% | 1.83 | S$2.4B |
2-year SGS cutoff yield history
Latest auction in context
- Yield change: The 1.05% cutoff is 31 bp lower than the previous 2-year SGS auction (N505100F, 1.36% on 30 Jan 2008).
- Price vs par: The bond cleared at S$107.15 per S$100 face value — a premium, because the 4.63% fixed coupon is above the 1.05% market yield. Buyers pay more upfront for the higher coupon stream.
- Issue history: This issue has been reopened 3 times since the original auction on 29 Jun 2000. Reopenings add to the same line — same coupon, same maturity — but reprice at each auction's cutoff yield.
Descriptive observations from MAS auction history — not forecasts or recommendations.
About SGS Bonds
SGS Bonds pay the fixed coupon (4.63% in this issue's case) semi-annually on face value until maturity. The cutoff yield is what the auction priced at — it reflects the market's required return and changes at each reopening. Holding to maturity returns face value; selling earlier in the secondary market exposes you to price fluctuation as rates move.
Learn more
- The full SG retail fixed-income landscape — where SGS bonds sit alongside SSB, T-bills, FDs, MMFs, and CPF.
- Singapore T-bill auctions explained — same MAS uniform-price auction format applies to SGS bonds.
- SSB vs T-bill — the broader retail-bond decision framework, with SGS noted as the long-tenor option.