BS24121A 6-Month T-Bill Auction Results vs Projection

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2024/10/24/bs24121a-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 BS24121A 6-Month T-Bill Yield Projection for the projection:

Yield Premium Projection:
Projected Cut-Off Yield = 3.05%, ranging from 2.96% to 3.14%

Polynomial Trendline Projection:
Projected Cut-Off Yield = 2.63%, ranging from 2.36% to 2.90%

Today (24 October 2024) the auction results for BS24121A was released here:
https://www.mas.gov.sg/bonds-and-bills/auctions-and-issuance-calendar/auction-t-bill?issue_code=BS24121A&issue_date=2024-10-29

BS24121A Cut-Off Yield is 2.99%, 7 basis points below previous T-bill issue BS24120V, and 6 basis points below the projected yield for the Yield Premium Projection method.