{"id":56986,"date":"2026-05-31T22:59:47","date_gmt":"2026-05-31T14:59:47","guid":{"rendered":"https:\/\/sgbuzz.com\/?p=56986"},"modified":"2026-05-31T22:59:47","modified_gmt":"2026-05-31T14:59:47","slug":"heres-what-to-expect-for-the-t-bill-auction-on-4-june","status":"publish","type":"post","link":"https:\/\/sgbuzz.com\/?p=56986","title":{"rendered":"Here’s what to expect for the T-bill auction on 4 June"},"content":{"rendered":"


\n<\/p>\n

<\/p>\n

What happened?<\/h2>\n

The next 6-month Singapore T-bill auction (BS26111H)<\/a> will be on 4 June.<\/p>\n

In the previous auction on 21 May, the cut-off yield for the 6-month Singapore T-bill climbed to 1.45%<\/a>, higher<\/span> than the yield of 1.40% in the previous auction on 7 May<\/a>.<\/p>\n

This would be close to the recent high of 1.47% in the auction on 9 April.<\/a>\u00a0<\/p>\n

With the rise in cut-off yield, the Beansprout community<\/a> has been discussing whether we could see a further rebound in the Singapore T-bill yield.<\/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.<\/span><\/p>\n

\"6-month
Source: MAS<\/figcaption><\/figure>\n

Here’s what to expect for the Singapore T-bill auction on 4 June<\/strong><\/span><\/h2>\n

#1 \u2013 US 10-year government bond yields have edged higher<\/h3>\n

The 10-year US government bond yield was at 4.50% as of 28 May 2026<\/a>, slightly higher than its levels of 4.46% two weeks ago.\u00a0<\/p>\n

This comes as stronger-than-expected economic data and sticky inflation prompted investors to dial back expectations for near-term Federal Reserve rate cuts.<\/p>\n

At the same time, concerns over the widening US fiscal deficit and heavier Treasury issuance weighed on bond markets, putting additional upward pressure on long-term yields.<\/p>\n

You can check the latest 10-year US government bond yield here<\/a>.<\/p>\n

\"US<\/p>\n

Likewise, the 1-year US government bond yield edged up to 3.84% as of 28 May 2026, from 3.81% two weeks earlier.<\/p>\n

\"US<\/p>\n

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

The 10-year Singapore government bond yield was at 2.05% as of 28 May 2026, little changed from 2.07% two weeks ago.<\/p>\n

This likely reflects sustained demand for Singapore government bonds as a safe haven asset.\u00a0<\/p>\n

\"Singapore<\/p>\n

The closing yield on the 6-month T-bill was at 1.41% on 26 May 2026, slightly lower than the cut-off yield of 1.45% in the previous T-bill auction on 21 May<\/a>.<\/p>\n

\"T-bills<\/p>\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 1.40%<\/a> in the auction on 26 May 2026, also quite close to <\/span>the cut-off yield of 1.41% on 19 May.<\/p>\n

\"3<\/p>\n

#3 \u2013\u00a0Issuance size is the same with previous auction<\/strong><\/h3>\n

The issuance size of the upcoming 6-month Singapore T-bill is $8.5 billion, same with the previous auction size.<\/p>\n

This also represents the highest amount of 6-month Singapore T-bill being auctioned.\u00a0<\/p>\n