Singapore’s latest 6-month Treasury bill auction draws record 92,000 bids totalling S$14.2b

INVESTORS poured a massive S$14.2 billion into Singapore’s latest six-month Treasury bill (T-bill) auction in a record-high volume of applications.

Consequently, the results of the auction which ended with a cut-off yield of 4 per cent were delayed on Thursday (Nov 10) by over five hours.

Against an allotment size of S$4.5 billion, the application monies represented an oversubscription rate of 3.2 times. In a notice on Thursday evening, the Monetary Authority of Singapore (MAS) said: “Today’s auction for the six-month T-bill (BS22122Z) received over 92,000 bids, which is a record high and far exceeds the bids received for the last T-bill auction.”