1-year T-bill
BY22100W
Auctioned 20 Jan 2022 · Issued 25 Jan 2022 · Matures 24 Jan 2023
Cutoff yield
0.75%
Median yield: 0.61%
Auction details
- Bid-to-cover:
- 1.68 (S$1.68 bid per S$1 issued)
- Amount issued:
- S$3.2B
- Tenor:
- 1-year
1-year 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.