BS24122E 6-Month T-Bill Auction Results vs Projection

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2024/11/07/bs24122e-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 BS24122E 6-Month T-Bill Yield Projection for the projection:

Yield Premium Projection:
Projected Cut-Off Yield = 2.97%, ranging from 2.89% to 3.05%

Polynomial Trendline Projection:
Projected Cut-Off Yield = 2.62%, ranging from 2.33% to 2.91%

Today (7 November 2024) the auction results for BS24122E was released here:
https://www.mas.gov.sg/bonds-and-bills/auctions-and-issuance-calendar/auction-t-bill?issue_code=BS24122E&issue_date=2024-11-12

BS24122E Cut-Off Yield is 3.04%, 5 basis points above previous T-bill issue BS24121A, and 7 basis points above the projected yield for the Yield Premium Projection method.