THE cut-off yield for Singapore’s first six-month Treasury bill (T-bill) auction this year closed at 4.2 per cent on Thursday (Jan 5).

Cut-off yield for the risk-free fixed income product, backed by the Singapore government, have been on the rise in recent months amid steep interest rate hikes by the US Federal Reserve.

The T-bills were around 2.6 times subscribed for the S$4.7 billion allotment in the latest auction. Non-competitive bids, which totalled S$1.4 billion in the latest auction, were fully allotted.