All you need to know about Singapore T-bills

SINGAPORE Treasury bills (T-bills) have received explosive investor interest lately, with individual investors making more than 92,000 bids – some for over S$1 million – in the Nov 10 auction.

Investors were likely to have been attracted after an earlier auction on Oct 27 closed with a decades-high cut-off yield of 4.19 per cent.

The last time yields were at the 4 per cent level was in 1989, after peaking at 4.73 per cent in 1988, according to data from the Monetary Authority of Singapore (MAS) website dating back to 1987.

Many investors are unfamiliar with the government-guaranteed zero-coupon fixed income product, though.

Below is a guide to T-bills and answers to some of the most frequently asked questions – including t…

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