{"id":27731,"date":"2026-01-11T23:12:37","date_gmt":"2026-01-11T15:12:37","guid":{"rendered":"https:\/\/sgbuzz.com\/?p=27731"},"modified":"2026-01-11T23:12:37","modified_gmt":"2026-01-11T15:12:37","slug":"heres-what-to-expect-for-the-t-bill-auction-on-15-january","status":"publish","type":"post","link":"https:\/\/sgbuzz.com\/?p=27731","title":{"rendered":"Here’s what to expect for the T-bill auction on 15 January"},"content":{"rendered":"


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<\/p>\n

What happened?<\/h2>\n

The first 6-month Singapore T-bill auction (BS26101E)<\/a> of 2026 will be coming up on 15 January 2025.<\/p>\n

In the most recent auction on 31 December, the cut-off yield for the 6-month Singapore T-bill rose to 1.60%<\/a>.<\/p>\n

This led to renewed interest in the Singapore T-bill, with questions in the Beansprout community<\/a> about whether we will se a further increase in the T-bill yield in the upcoming auction.<\/p>\n

In this article, I\u2019ll 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<\/a>.<\/p>\n

Here’s what to expect for the Singapore T-bill auction on 15 January\u00a0<\/strong><\/span><\/h2>\n

#1 \u2013 US 10-year government bond yields remains steady<\/h3>\n

The 10-year US government bond yield was at 4.17% as of 9 January 2026, \u00a0close to the yield of 4.13% from two weeks ago. \u00a0<\/p>\n

US government bond yields appeared to have stabilised, after the Fed cut rates as expected in its December meeting.\u00a0<\/a><\/p>\n

\"US
Source: TradingView<\/figcaption><\/figure>\n

The 1-year US government bond yield was at 3.50% as at 8 January 2026, similar to two weeks ago.<\/p>\n

\"US
Source: TradingView<\/figcaption><\/figure>\n

#2 \u2013 Singapore government bond yields decline<\/h3>\n

The 10-year Singapore government bond yield was at 2.20% as of 9 January 2026, falling from 2.31% from two weeks ago.\u00a0<\/p>\n

\"SG
Source: TradingView<\/figcaption><\/figure>\n

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<\/a>.<\/a>\u00a0<\/p>\n

\"Daily
Source: MAS<\/figcaption><\/figure>\n

T<\/span>he yield on the 3-month MAS bill can also indicate the yields for shorter-maturity Singapore government bonds.<\/p>\n

The\u00a0cut-off yield was at 1.45%<\/a> in the auction on 6 January 2026, falling from \u00a0the yield of 1.57% in the auction on 30 December 2025.<\/p>\n

\"MAS<\/figure>\n

#3 \u2013\u00a0Issuance size lower than the previous auction<\/strong><\/p>\n

The issuance size of the upcoming 6-month Singapore T-bill is $7.8 billion, similar to the previous auction size.<\/p>\n