BS24119S 6-Month T-Bill Auction Results vs Projection

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2024/09/26/bs24119s-6-month-t-bill-auction-results-vs-projection/

Disclaimer: This post is just for educational sharing purposes. Please do your own due diligence on any products mentioned in this post.

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Refer to BS24119S 6-Month T-Bill Yield Projection for the projection:

Yield Premium Projection:
Projected Cut-Off Yield = 2.94%, ranging from 2.85% to 3.03%

Polynomial Trendline Projection:
Projected Cut-Off Yield = 2.81%, ranging from 2.59% to 3.03%

Today (26 September 2024) the auction results for BS24119S was released here:
https://www.mas.gov.sg/bonds-and-bills/auctions-and-issuance-calendar/auction-t-bill?issue_code=BS24119S&issue_date=2024-10-01

BS24119S Cut-Off Yield is 2.97%, again 3 basis points above the projected yield for the Yield Premium Projection method, just like the previous T-bill issue projection.