What happened?
The next 6-month Singapore T-bill auction (BS26112T) will be on 18 June.
In the previous auction on 4 June, the cut-off yield for the 6-month Singapore T-bill climbed to 1.48% from the yield of 1.45% in the previous auction on 21 May.
This represents the highest 6-month T-bill yield so far in 2026.
With the rise in cut-off yield, the Beansprout community has been discussing whether we could see a further rebound in the Singapore T-bill yield.
In this article, I’ll look at some of the latest indicators to help us understand what the upcoming cut-off yield might be.
Here’s what to expect for the Singapore T-bill auction on 18 June
#1 – US 10-year government bond yield remains elevated
The 10-year US government bond yield was at 4.46% as of 12 June 2026, close to its level of 4.50% two weeks ago.
The upward pressure on US government bond yields has eased following signs of de-escalation in Middle East tensions, which helped reduce concerns over a potential oil price shock and its impact on inflation.
However, yields remained elevated as investors continued to grapple with persistent inflation pressures, a resilient US economy, and concerns over the country’s fiscal deficit and growing government debt burden.
These factors have reinforced expectations that interest rates may remain higher for longer, supporting higher long-term bond yields.
You can check the latest 10-year US government bond yield here.
In fact, the 1-year US government bond yield edged up to 3.87% as of 28 May 2026, from 3.84% two weeks earlier.
#2 – Singapore government bond yields edged higher
The 10-year Singapore government bond yield was at 2.11% as of 12 June 2026, slightly higher from 2.05% two weeks ago.
This follows the trend of elevated US government bond yields in recent weeks.
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