6-month T-bill
BS20123T
Auctioned 26 Nov 2020 · Issued 01 Dec 2020 · Matures 01 Jun 2021
Cutoff yield
0.32%
Median yield: 0.27%
Auction details
- Bid-to-cover:
- 2.03 (S$2.03 bid per S$1 issued)
- Amount issued:
- S$4.2B
- 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.