This translates to a subscription rate of 2.4 times, up from 2.2 times in the previous auction.Īuction sizes have increased with the demand, with the next auction of six-month T-bills on May 25 having an upsized offering of S$5.3 billion. Still, investor demand remains strong, with the latest auction of six-month T-bills on May 11 receiving nearly S$12 billion (US$9 billion) in applications for the S$5 billion on offer. Yields have since been fluctuating between 3.65 and 3.93 per cent. With interest rate hikes slowing this year, T-bill yields slipped below the 4 per cent mark in February. Investor interest in T-bills soared last year as yields rose, eventually peaking at 4.4 per cent in December – the highest yield on a six-month T-bill since September 1988. They are issued via an auction process, and retail investors can apply to invest in them at DBS, POSB, OCBC and UOB ATMs or via internet banking. T-bills are debt securities issued and backed by the Singapore government, with maturities of six months or one year.
SINGAPORE: Their returns may have dipped, but Treasury bills (T-bills) are still a hugely popular option for people looking to invest their spare cash.
