The latest six-month T-bill auction jumped to a 1.92% cut-off yield, its biggest single increase in this run. I explain what the 22-basis-point move, S$15.8 billion in applications, and 1.88 bid-to-cover ratio reveal about short-term rates. More importantly, I compare T-bills with CPF Ordinary Account, fixed deposits, and the new Savings Bond, so you can judge whether the extra return is worth locking away your cash for six months.
Key takeaways:
The cut-off yield rose from 1.70% to 1.92% in two weeks.
CPF Ordinary Account still pays 2.5%, about 60 basis points more.
Only about 49% of competitive applications at the cut-off were filled.
The T-bill rate exceeds the cited fixed deposit rates.
The Savings Bond offers greater flexibility and a 2.32% ten-year average return.
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.
