{"id":60755,"date":"2026-06-15T00:50:02","date_gmt":"2026-06-14T16:50:02","guid":{"rendered":"https:\/\/sgbuzz.com\/?p=60755"},"modified":"2026-06-15T00:50:02","modified_gmt":"2026-06-14T16:50:02","slug":"heres-what-to-expect-for-the-t-bill-auction-on-18-june","status":"publish","type":"post","link":"https:\/\/sgbuzz.com\/?p=60755","title":{"rendered":"Here’s what to expect for the T-bill auction on 18 June"},"content":{"rendered":"


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What happened?<\/h2>\n

The next 6-month Singapore T-bill auction (BS26112T)<\/a> will be on 18 June.<\/p>\n

In the previous auction on 4 June, the cut-off yield for the 6-month Singapore T-bill climbed to 1.48%<\/a> from the yield of 1.45% in the previous auction on 21 May<\/a>.<\/p>\n

This represents the highest 6-month T-bill yield so far in 2026.<\/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 18 June<\/strong><\/span><\/h2>\n

#1 \u2013 US 10-year government bond yield remains elevated\u00a0<\/h3>\n

The 10-year US government bond yield was at 4.46% as of 12 June 2026<\/a>, close to its level of 4.50% two weeks ago.<\/p>\n

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.<\/p>\n

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.\u00a0<\/p>\n

These factors have reinforced expectations that interest rates may remain higher for longer, supporting higher long-term bond yields.<\/p>\n

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

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

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.<\/p>\n

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

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

The 10-year Singapore government bond yield was at 2.11% as of 12 June 2026, slightly higher from 2.05% two weeks ago.<\/p>\n

This follows the trend of elevated US government bond yields in recent weeks.\u00a0<\/p>\n

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

\"Singapore
Source: Beansprout<\/figcaption><\/figure>\n

The closing yield on the 6-month T-bill was at 1.46% on 26 May 2026, close to the cut-off yield of 1.48% in the previous T-bill auction on 4 June<\/a>.<\/p>\n

\"T-bills
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 1.53%<\/a> in the auction on 9 June 2026, much higher than the<\/span> cut-off yield of 1.40% on 3 June.<\/p>\n

\"3
Source: MAS<\/figcaption><\/figure>\n

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

The issuance size of the upcoming 6-month Singapore T-bill is $8.2 billion, lower than the previous auction size of $8.5 billion on 4 June<\/a>.<\/p>\n