BS25122A 6-Month T-Bill Auction Results vs Projection

This Opinion post first appeared in my blog here: https://pwlcm.wordpress.com/2025/11/06/bs25122a-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 BS25122A 6-Month T-Bill Yield Projection for the projection:

Yield Premium Projection:
Projected Cut-Off Yield = 1.31%, ranging from 1.25% to 1.37%

Polynomial Trendline Projection:
Projected Cut-Off Yield = 1.48%, ranging from 0.89% to 2.07%

My projected yield was 1.31%.

Today (6 November 2025) the auction results for BS25122A was released here:
https://www.mas.gov.sg/bonds-and-bills/auctions-and-issuance-calendar/auction-t-bill?issue_code=BS25122A&issue_date=2025-11-11

BS25122A Cut-Off Yield is 1.37%, 6 basis points above my projected yield of 1.31% from the Yield Premium Method.