{"id":68187,"date":"2026-07-12T22:29:10","date_gmt":"2026-07-12T14:29:10","guid":{"rendered":"https:\/\/sgbuzz.com\/?p=68187"},"modified":"2026-07-12T22:29:10","modified_gmt":"2026-07-12T14:29:10","slug":"heres-what-to-expect-for-the-t-bill-auction-on-16-july","status":"publish","type":"post","link":"https:\/\/sgbuzz.com\/?p=68187","title":{"rendered":"Here’s what to expect for the T-bill auction on 16 July"},"content":{"rendered":"


\n<\/p>\n

<\/p>\n

What happened?<\/h2>\n

The next 6-month Singapore T-bill auction (BS26114W)<\/a> will be on 16 July.<\/p>\n

In the previous auction on 2 July, the cut-off yield for the 6-month Singapore T-bill rose to 1.50%<\/a> from the yield of 1.47% in the previous auction on 18 June<\/a>.<\/p>\n

With the cut-off yield rising, I have seen more discussion in the <\/span>Beansprout community<\/a> about whether Singapore T-bill yield could continue to increase.<\/span><\/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 16 July<\/strong><\/span><\/h2>\n

#1 \u2013 US 10-year government bond yield moved higher<\/h3>\n

The 10-year US government bond yield has increased to 4.54% as of 10 July 2026<\/a>, above its level of 4.38% two weeks ago.<\/p>\n

US government bond yields rose earlier in the week as renewed US-Iran tensions pushed oil prices higher, raising concerns that an energy price shock could keep inflation elevated.<\/p>\n

At its most recent meeting, the Federal Reserve also raised its inflation outlook for 2026.\u00a0<\/a><\/p>\n

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

\"US
Source: Beansprouthttps:\/\/growbeansprout.com\/quote\/us-10y-government-bond-yield<\/a><\/figcaption><\/figure>\n

Similarly, the 1-year US government bond yield edged up to 4.04% as of 10 July 2026, from 3.98% two weeks earlier.<\/p>\n

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

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

The 10-year Singapore government bond yield was at 2.14% as of 10 July 2026, higher from 2.03% two weeks ago.<\/p>\n

The increase in the 10-year yield largely mirrored the steep rise in the US 10-year government bond yield.<\/p>\n

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

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

The closing yield on the 6-month T-bill was at 1.49% on 10 July 2026, close to the cut-off yield of 1.50% in the previous T-bill auction on 2 July<\/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 1.47%<\/a> in the auction on 7 July 2026, higher than the<\/span> cut-off yield of 1.42% on 30 June.<\/p>\n

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

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

The issuance size of the upcoming 6-month Singapore T-bill is $8.8 billion, higher than the previous auction size of $8.7 billion on 2 July<\/a>.<\/p>\n

This also represents the highest level of 6-month T-bills issued, above the previous high of $8.7 billion on 2 July 2026.<\/p>\n