BS24120V 6-Month T-Bill Auction Results vs Projection

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2024/10/10/bs24120v-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 BS24120V 6-Month T-Bill Yield Projection for the projection:

Yield Premium Projection:

Projected Cut-Off Yield = 3.10%, ranging from 3.01% to 3.19%

Polynomial Trendline Projection:
Projected Cut-Off Yield = 2.73%, ranging from 2.48% to 2.98%

Today (10 October 2024) the auction results for BS24120V was released here:
https://www.mas.gov.sg/bonds-and-bills/auctions-and-issuance-calendar/auction-t-bill?issue_code=BS24120V&issue_date=2024-10-15

BS24120V Cut-Off Yield is 3.06%, 9 basis points above previous T-bill issue BS24119S, and 4 basis points below the projected yield for the Yield Premium Projection method.