BS25118F 6-Month T-Bill Auction Results vs Projection

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2025/09/11/bs25118f-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 BS25118F 6-Month T-Bill Yield Projection for the projection:

Yield Premium Projection: Projected Cut-Off Yield = 1.34%, ranging from 1.28% to 1.40%

Polynomial Trendline Projection: Projected Cut-Off Yield = 1.82%, ranging from 1.30% to 2.34%

My projected yield was 1.34%.

Today (11 September 2025) the auction results for BS25118F was released here: https://www.mas.gov.sg/bonds-and-bills/auctions-and-issuance-calendar/auction-t-bill?issue_code=BS25118F&issue_date=2025-09-16

BS25118F Cut-Off Yield is 1.38%, 4 basis points above my projected yield of 1.34% from the Yield Premium Method.