BS25111T 6-Month T-Bill Auction Results vs Projection

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2025/06/05/bs25111t-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.

__

Refer to BS25111T 6-Month T-Bill Yield Projection for the projection:

Yield Premium Projection:
Projected Cut-Off Yield = 2.13%, ranging from 2.08% to 2.18%

Polynomial Trendline Projection:
Projected Cut-Off Yield = 2.59%, ranging from 2.29% to 2.89%

My projected yield was 2.13%.

Today (5 June 2025) the auction results for BS25111T was released here:
https://www.mas.gov.sg/bonds-and-bills/auctions-and-issuance-calendar/auction-t-bill?issue_code=BS25111T&issue_date=2025-06-10

BS25111T Cut-Off Yield is 2.05%, 8 basis points below my projected yield 2.13%.