What happened?
The results for the latest 6-month Singapore T-bill auction are out.
At the auction on 3 July 2025, the cut off yield for the 6-month Singapore T-bill (BS25113W) fell to 1.85%.
This represents a further decline from 2% in the previous auction, and reflects the lower yields we have seen in recent weeks.
Looking back, this would also be the lowest 6-month T-bill yield since June 2022.
In this post, I'll explore the latest 6-month Singapore T-bill auction results and what they mean for investors.
Source: MAS
What we learnt from the latest 6-month Singapore T-bill auction
#1 -Demand for the Singapore T-bill increased
The total applications for the 6-month Singapore T-bill increased to S$16.1 billion in the latest auction on 3 July from S$15.9 billion recorded on 19 June.
Despite the increase, it is still far from the recent peak of S$23.3 billion on 13 February 2025, as yields…
