What happened?
The first 6-month Singapore T-bill auction (BS26101E) of 2026 will be coming up on 15 January 2025.
In the most recent auction on 31 December, the cut-off yield for the 6-month Singapore T-bill rose to 1.60%.
This led to renewed interest in the Singapore T-bill, with questions in the Beansprout community about whether we will se a further increase in the T-bill yield in the upcoming auction.
In this article, I’ll look at some of the latest indicators to help us understand what the upcoming cut-off yield might be, and if it will still be worthwhile applying for T-bills as a way to generate passive income.
Here’s what to expect for the Singapore T-bill auction on 15 January
#1 – US 10-year government bond yields remains steady
The 10-year US government bond yield was at 4.17% as of 9 January 2026, close to the yield of 4.13% from two weeks ago.
US government bond yields appeared to have stabilised, after the Fed cut rates as expected in its December meeting.
The 1-year US government bond yield was at 3.50% as at 8 January 2026, similar to two weeks ago.
#2 – Singapore government bond yields decline
The 10-year Singapore government bond yield was at 2.20% as of 9 January 2026, falling from 2.31% from two weeks ago.
The closing yield on the 6-month T-bill was 1.46% on 8 January 2026, below the cut-off yield of 1.60% in the previous T-bill auction on 31 December.
The yield on the 3-month MAS bill can also indicate the yields for shorter-maturity Singapore government bonds.
