BS25108N 6-Month T-Bill Auction Results vs Projection

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2025/04/24/bs25108n-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 BS25108N 6-Month T-Bill Yield Projection for the projection:

Yield Premium Projection: Projected Cut-Off Yield = 2.36%, ranging from 2.30% to 2.42%

Polynomial Trendline Projection: Projected Cut-Off Yield = 2.85%, ranging from 2.64% to 3.06%

My projected yield was 2.36%.

Today (24 April 2025) the auction results for BS25108N was released here: https://www.mas.gov.sg/bonds-and-bills/auctions-and-issuance-calendar/auction-t-bill?issue_code=BS25108N&issue_date=2025-04-29

BS25108N Cut-Off Yield is 2.38%, just 2 basis points above my projected yield 2.36%.