1-year T-bill
BY22102V
Auctioned 21 Jul 2022 · Issued 26 Jul 2022 · Matures 25 Jul 2023
Cutoff yield
3.10%
Median yield: 2.96%
Auction details
- Bid-to-cover:
- 2.33 (S$2.33 bid per S$1 issued)
- Amount issued:
- S$3.7B
- 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.