Singapore Treasury bills (T-bills)

[digisales]

Yep

great. thank you for your patience!

 

[digisales]

anybody bought the SGS bonds closing today?

 

[stephenbishop]

SGS: pays principle + interest after maturity

If you mean SGS Bonds, the nominal principal (i.e. the face value and not necessarily what you paid) will be repaid at maturity. The interest on the nominal principal will be paid half yearly on the specified interest payment dates.

 

[stephenbishop]

anybody bought the SGS bonds closing today?

Applied for- don't know if I will get!

 

[sohguanh]

Applied for- don't know if I will get!

Unless you put in competitive bid, I check this year past auction results non-competitive bids all will get. All the best!

 

[digisales]

Applied for- don't know if I will get!

gd luck!

 

[anddrool]

Does anybody has experience in selling SGS bond to bank?
Is the buying price price offered by bank comparable to platform like FSM? or generally is the price offered consider good and at market price.

What is the selling procedure like?
Just go to bank branch office and fill in some forms?

 

[dude123]

Applied for- don't know if I will get!

You put competitive or non-competitive bid?

 

[sohguanh]

Does anybody has experience in selling SGS bond to bank?
Is the buying price price offered by bank comparable to platform like FSM? or generally is the price offered consider good and at market price.

What is the selling procedure like?
Just go to bank branch office and fill in some forms?

You ask a very valid question. I think only those dealer banks that participate in the auction. Once you do it please share readers want to know how troublesome is the process and via the dealer banks what is the price they offer to buy from you who wanted to sell. From SGX you can see it is very few buyers so that option is out.

 

[m0n0n0ke]

Who eyeing at 1y tbill?

 

[sohguanh]

Who eyeing at 1y tbill?

Me but it clash with another 6 month t-bill on same day. Using 2.36% of last 6 month t-bill as guide, the 1 year should be higher than that?

 

[reddevil0728]

Me but it clash with another 6 month t-bill on same day. Using 2.36% of last 6 month t-bill as guide, the 1 year should be higher than that?

Actually why is it a clashing when they are separate things?

1y ought to be higher, but inverted yield is also possible

 

[sohguanh]

Using what is posted I try query for T-bill 6 months 12 months and actually the difference is minor based on Jun days daily prices so I am guessing for July both 6 , 12 months T-bill the yield should be close. If it is close then going for 12 months and tie up versus going for subsequent 6 months T-bill after July since it is 2 weeks and 12 months T-bill is every quarter hmmm

https://eservices.mas.gov.sg/statistics/fdanet/BenchmarkPricesAndYields.aspx
Start Year and End Year select 2022
Start month and end month select June
Frequency daily
check 6-Month T-Bill Yield
check 1-Year T-Bill Yield

 

[reddevil0728]

Using what is posted I try query for T-bill 6 months 12 months and actually the difference is minor based on Jun days daily prices so I am guessing for July both 6 , 12 months T-bill the yield should be close. If it is close then going for 12 months and tie up versus going for subsequent 6 months T-bill after July since it is 2 weeks and 12 months T-bill is every quarter hmmm

https://eservices.mas.gov.sg/statistics/fdanet/BenchmarkPricesAndYields.aspx
Start Year and End Year select 2022
Start month and end month select June
Frequency daily
check 6-Month T-Bill Yield
check 1-Year T-Bill Yield

It should be more accurate to comoare 2 T-bills that are issued on the same day but of different tenure. the last time this happened was in Jan and Apr. Should look at that instead.

 

[sohguanh]

It should be more accurate to comoare 2 T-bills that are issued on the same day but of different tenure. the last time this happened was in Jan and Apr. Should look at that instead.

1 year T-bill 20 Jan 0.75%
6 month T-bill 20 Jan 0.48%

1 year T-bill 13 Apr 2.00%
6 month T-bill 13 Apr 1.32%

Above are all before the sudden rising of rates but yes it can be a guide too. The coming same day 21 July maybe the first time to see different tenure T-bill difference in rates after the sudden rising of rates just like SSB 26 Apr to 26 May jump so much

6 months T-bill 21 Jul XXX
12 months T-bill 21 Jul XXX
Subsequent 6 months after 21 July will rise above XXX ? Hmmm

 

[reddevil0728]

1 year T-bill 20 Jan 0.75%
6 month T-bill 20 Jan 0.48%

1 year T-bill 13 Apr 2.00%
6 month T-bill 13 Apr 1.32%

Above are all before the sudden rising of rates but yes it can be a guide too. The coming same day 21 July maybe the first time to see different tenure T-bill difference in rates after the sudden rising of rates just like SSB 26 Apr to 26 May jump so much

6 months T-bill 21 Jul XXX
12 months T-bill 21 Jul XXX
Subsequent 6 months after 21 July will rise above XXX ? Hmmm

actually why is it sudden? it isn't unexpected no?

If you are talking about whether it is rising faster than expected, probably. but i am not sure about "sudden"

 

[sohguanh]

actually why is it sudden? it isn't unexpected no?

If you are talking about whether it is rising faster than expected, probably. but i am not sure about "sudden"

Sorry when I say sudden I refer to the SSB just the first year rate from May issue 0.86 jump suddenly to Jun 1.43 and that is 0.57% difference

 

[reddevil0728]

Sorry when I say sudden I refer to the SSB just the first year rate from May issue 0.86 jump suddenly to Jun 1.43 and that is 0.57% difference

i mean feds increase in rate has more impact on near term interest than longer term

 

[d5dude]

Does anybody has experience in selling SGS bond to bank?
Is the buying price price offered by bank comparable to platform like FSM? or generally is the price offered consider good and at market price.

What is the selling procedure like?
Just go to bank branch office and fill in some forms?

AFAIK FSM doesn't buy SGS bonds, they only sell them. No idea what dealer banks offer for SGS bonds, maybe somebody can call them up to ask. I generally hold very short duration bills and bonds to maturity, nothing above 2 year so the illiquidity does not affect me.

 

[reddevil0728]

You don't want to discuss SGS Bonds in your thread?

@stephenbishop are you able to share more about how SGS Bonds works in terms of competitive / non competitive bid?

@hyperfuse