After the 4.07% p.a. cut-off yield within the prior T-bill public sale, I used to be trying ahead to a presumably larger cut-off yield for this public sale.
Sadly, the potential of a a lot larger cut-off yield attracted many low-ballers, and that crushed all hopes of a better yield.
If we take a look at the typical yield for this public sale and the public sale that passed off on 28 Sep, it’s fairly clear what occurred.
This public sale’s common yield is 3.37% p.a.
28 Sep’s common yield was 3.51% p.a.
There have been individuals bidding a lot decrease than 3.37% p.a. to safe the T-bills on this public sale.
As little as 2.37% p.a.
That’s simply asinine.
That’s even decrease than what the CPF-OA pays!
The quantity of curiosity on this public sale shot via the roof as solely 79% of non-competitive bids had been allotted.
I hope the low-ballers are completely happy now that everybody finally ends up with a decrease cut-off yield.
Reference:
4.07% p.a. T-bill.
