SGS Bonds

Highest and lowest SGS yields

Top and bottom 20 cutoff yields across 321 SGS Bond auctions since 08 May 1987, spanning 2-year to 50-year tenors. Cross-tenor lists skew toward 20–50 year issues because longer tenors typically price above short ones — use the per-tenor table for like-for-like comparison.

All-time high and low by tenor

Tenor	Auctions	Highest cutoff	Lowest cutoff
2 years	98	5.28% N288101Z · 16 Aug 1988	0.23% N708100S · 27 Jul 2012
5 years	88	5.52% N590100Z · 28 Aug 1990	0.51% N520100A · 28 Oct 2020
7 years	35	5.55% N797100E · 11 Nov 1997	1.15% NX09100W · 29 May 2012
10 years	38	5.87% NX98100H · 26 Jun 1998	0.93% NZ10100F · 28 Jul 2020
15 years	24	4.08% NY03100A · 27 Aug 2003	1.20% NZ16100X · 27 May 2020
20 years	16	3.50% NZ07100S · 26 Feb 2007	1.27% NZ19100S · 28 Sept 2020
30 years	18	3.30% NA24300E · 21 May 2024	1.15% NA20100F · 27 Aug 2020
50 years	4	3.04% NC22300W · 24 Aug 2023	2.16% NC22300W · 26 Sept 2025

Top 20 highest — all tenors

1 NX98100H 10y 26 Jun 1998 5.87%
2 N797100E 7y 11 Nov 1997 5.55%
3 N590100Z 5y 28 Aug 1990 5.52%
4 N587100H 5y 08 May 1987 5.46%
5 N589100Z 5y 20 Jun 1989 5.38%
6 N598101X 5y 31 Aug 1998 5.37%
7 N588101H 5y 01 Nov 1988 5.37%
8 N589101S 5y 03 Apr 1990 5.35%
9 N590100Z 5y 29 Jan 1991 5.29%
10 N288101Z 2y 16 Aug 1988 5.28%
11 N591101Z 5y 27 Aug 1991 5.18%
12 N589101S 5y 21 Nov 1989 5.16%
13 N588101H 5y 21 Jun 1988 5.16%
14 N291100A 2y 09 Jul 1991 5.12%
15 N591100F 5y 19 Mar 1991 5.10%
16 N587101T 5y 28 Aug 1987 5.09%
17 N290101F 2y 16 Oct 1990 5.08%
18 N587102X 5y 10 Nov 1987 5.06%
19 N588100S 5y 23 Feb 1988 5.02%
20 N289100E 2y 04 Apr 1989 5.00%

20 lowest — all tenors

1 N708100S 2y 27 Jul 2012 0.23%
2 N213100S 2y 29 Jan 2013 0.30%
3 N212100H 2y 27 Jan 2012 0.30%
4 N509100N 2y 26 Sept 2012 0.31%
5 NY07100X 2y 27 Aug 2020 0.32%
6 N509100N 2y 28 Sept 2011 0.35%
7 N518100E 2y 24 Feb 2021 0.41%
8 NX03100Z 2y 28 Jun 2011 0.41%
9 N511100W 2y 26 Sept 2013 0.42%
10 N519100A 2y 27 May 2021 0.46%
11 N508100V 2y 27 Jan 2011 0.50%
12 N520100A 5y 28 Oct 2020 0.51%
13 NY01100F 2y 27 Aug 2014 0.51%
14 N511100W 2y 27 Mar 2014 0.52%
15 N507101E 2y 28 Jun 2010 0.52%
16 N518100E 2y 28 Apr 2020 0.54%
17 N513100T 5y 26 Mar 2013 0.57%
18 N519100A 2y 28 Sept 2021 0.58%
19 NX15100Z 5y 26 Jun 2020 0.58%
20 NX01100H 2y 26 Jun 2009 0.58%

How to read this: cutoff yield is the highest yield MAS accepted at auction; non-competitive bidders always receive it. For the current snapshot of all tenors, see the SGS tracker.