I keep hearing that Singaporeans should suddenly ditch T-Bills because the latest six-month yield slipped from 1.59% to 1.56%. But if your CPF OA already pays 2.5%, CPF SA and RA pay 4%, and your retirement hurdle is 3.2%, why was 1.59% treated like a breakthrough in July? I explain when T-Bills still make sense for short-term cash, and why the real question is not what changed at the auction, but whether this is the right bucket for your money.
Key takeaways:
The six-month T-Bill yield rose from 1.50% on 2 July to 1.59% on 30 July.
The latest auction dipped to 1.56% as applications rose to S$18.5 billion.
CPF OA at 2.5% already exceeded the strongest T-Bill yield this year.
T-Bills remain useful for cash needed within the next year.
Retirement capital needs a different comparison than emergency savings.
Iggy’s Forensic Disclaimer
This content is produced for educational and informational purposes only. I am not a financial advisor — I am a retail investor who applies forensic analysis to my own portfolio and shares that process publicly. Nothing here constitutes a recommendation to buy, sell, or hold any security, and no specific target prices or personalised financial advice are offered. Stocks assessed under Iggy’s Forensic Yield Standard are benchmarked against a 4.7% minimum yield hurdle; stocks flagged as Growth Watch fall below this threshold but demonstrate clean balance sheet metrics and an identifiable growth catalyst — these carry a materially different risk profile and are not suitable as yield replacements for income-dependent investors. All data is sourced from public filings and verified sources; where data is unverified it is explicitly flagged. All investments carry risk, including the potential loss of principal, and past performance is not indicative of future results. If you are making investment decisions involving CPF, SRS, or personal capital, please conduct your own due diligence or consult a MAS-licensed financial adviser before committing funds.
