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Latest 6-month T-bill offers 3.85% yield; demand falls as banking crisis weighs on rate hike expectations

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Tan Nai Lun

Tan Nai Lun

Published Thu, Mar 30, 2023 · 02:38 PM
    • The latest tranche of T-bills are about 2.2 times subscribed for the S$4.3 billion allotment.
    • The latest tranche of T-bills are about 2.2 times subscribed for the S$4.3 billion allotment. PHOTO: REUTERS

    SINGAPORE’S latest six-month Treasury bill (T-bill) closed its auction with a cut-off yield of 3.85 per cent on Thursday (Mar 30).

    This was higher than the last auction, but demand was lower as investors factored in the impact of the banking crisis on interest rates and expressed a preference for instruments with a longer tenor.

    The latest tranche of T-bills – which are risk-free fixed-income products backed by the Singapore government – was around 2.2 times subscribed for the S$4.3 billion allotment.

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