6-month T-bill
BS19107F
Auctioned 03 Oct 2019 · Issued 08 Oct 2019 · Matures 07 Apr 2020
Cutoff yield
1.81%
Median yield: 1.77%
Auction details
- Bid-to-cover:
- 1.89 (S$1.89 bid per S$1 issued)
- Amount issued:
- S$3.5B
- Tenor:
- 6-month
6-month cutoff yield history
How this auction worked
MAS runs a uniform-price auction: every successful bidder — competitive or non-competitive — pays the cutoff yield. The cutoff is the highest yield accepted to fill the issue size; the median is the middle of all submitted bids, useful as a sanity check on whether the cutoff was pulled up by a few aggressive bids. A bid-to-cover ratio above 2.0 generally signals strong demand.