BS24125S 6-Month T-Bill Auction Results vs Projection

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2024/12/17/bs24125s-6-month-t-bill-yield-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 BS24125S 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 = 2.47%, ranging from 2.15% to 2.79%

Today (19 December 2024) the auction results for BS24125S was released here:
https://www.mas.gov.sg/bonds-and-bills/auctions-and-issuance-calendar/auction-t-bill?issue_code=BS24125S&issue_date=2024-12-24

BS24125S Cut-Off Yield is 3.02%, 2 basis points above previous T-bill issue BS24124Z, and 5 basis points above the projected yield for the Yield Premium Projection method.