Singapore Treasury bills (T-bills)

[HMAN]

"Lowballer" is not a complimentary term so i wouldn't suggest calling everyone who is successful a lowballer. It is true that everyone successful has a part in fixing the COY but this does not make him a lowballer. More important is the intention and frame of mind of the bidder. If say, by freak chance the COY is 10%, it would not be correct to call someone who bid 9.9% a lowballer. And what if the issue was not fully subscribed and there were no bids above 10%?
Rather, i would say the real lowballers are those who bid at a level that they themselves would not be happy to accept.
For eg, a person using cash may be happy only if he gets 4% but he still bids 0.5%. Or a person using CPF may be happy only if he gets 2.9% but he bids 0.1%
If
everyone bids at the minimum level that they honestly are happy to be successful at
taking into account alternative investment options and personal preferences, you wont have any complaints when COY suddenly drops to say 2%. Right now, these real lowballers are exposing themselves to exactly this risk

exactly!
just be sensible to pick own biddings .
ignore sour grapes ..

everyone has different needs and requirement.
end of day, you take care of your own pocket.

I am happy that eventually I managed to deploy the targeted CPF OA amount for T-Bill.
start getting more busy, no longer has the luxury to queue at Banks.


Read HWZ Forum Rules!

 

[pohw0008]

I don’t understand why bid 3.5% while CIMB FD already 4.15%

why spoil the market? Just save in CIMB la, even BOC FD also 4.1%

Maybe they lazy to open new account..

 

[dork32]

if the COY is 4%, bidders A, B, C, D will benefit from their tactic since if they get full allocation, they are actually collecting 4% and not their 0-3% ... that's why low-balling bidders will benefit ... right?

you are right. all will get 4%

is lowballing really beneficial to all? for the cpf oa people, yes, they win. they get something higher than oa.

but for a cash guy, this round getting allocated at 4.2% is not beneficial . he can get 6% at rhb. so why waste time being a low baller?

 

[dork32]

yes, i admit that i am a lowballer. i came in this round and bid 3.6% with my cpf. like what hman say, i dont want to waste time to go one more round to the bank

i am not insulted to be called a lowball guy. this is the free world. the lowballer gets allocated, the heroes dont

 

[sohguanh]

you are right. all will get 4%

is lowballing really beneficial to all? for the cpf oa people, yes, they win. they get something higher than oa.

but for a cash guy, this round getting allocated at 4.2% is not beneficial . he can get 6% at rhb. so why waste time being a low baller?

RHB will give for full 6 months? You need to gamble they continue the promo after current ended. There lies the risk which is why some go for T-bill that is 6 months tenure

 

[surefire888]

yes, i admit that i am a lowballer. i came in this round and bid 3.6% with my cpf. like what hman say, i dont want to waste time to go one more round to the bank

i am not insulted to be called a lowball guy. this is the free world. the lowballer gets allocated, the heroes dont

As per my reasoning earlier, if u are really prepared and happy to accept 3.6% if that turns out to be the COY, i would not consider u a lowballer

 

[surefire888]

glad you understand that everyone that is allocated has done their part in preventing the coy on going higher.

on your freak example of coy at 10%. the effect of a guy 9.9% is the same as the effect of a guy that bid 1% on the coy. so if a 9.9% guy is not lowballing, then the 1% guy is not lowballing. so stop calling the guy that bid 1% a low ball guy

I would not call the guy who bid 9.9% a lowballer just because he is successful in his bid. He is already bidding higher than what he would be happy to get

But i would call the 1% guy a lowballer because he knows he will not be happy with 1% but being kiasu and kiasi, he still bids at 1%. If COY turns out really to be 1%, he will cry and curse when he himself is to blame

 

[konan~]

Using the same example, total tbill amount = 5000
A bid 5% 1k
B bid 6% 1k
C bid 7% 1k
D bid 8% 1k
E bid 9% 1k
f bid 10% 1k
G bid 11% 1k
COY = 9%

Is E a lowball guy, yes he is, if he did not bid, the COY would have risen to 10%. his bid helped to bring the COY down to 9%. This is my point

 

[muthuma]

yes non competitive is the best. lets all go non competitive.

It is not always that way.....
Blindly going non-comp can also give us 0% yield.

• I have applied for 20k non-comp on the 10Nov22 issue. Got only 10k allotted.
• On the same issue, I also applied for 16k on comp at 3.95%. Got all the 16k allotted.

Auction Results (10 Nov 2022)

Allotment​

Total Amount Allotted S$4.5 billion
Amount Allotted to Non-Competitive Applications S$1.8 billion
Amount Allotted to MAS S$0.0 million
Total Amount Applied S$14.2 billion
% of Competitive Applications at Cut-off AllottedApproximately 64%
% of Non-Competitive Applications Allotted 49.68%
Bid-to-Cover Ratio 3.17

Yield and Price​

Cut-off Yield 4% p.a.
Cut-off Price 98.005
Median Yield 3.5% p.a.
Median Price 98.255
Average Yield 2.87% p.a.
Average Price 98.569

 

[jovinachoi]

yeah i bid 3%. I am a lowballer. Bite me.

 

[sohguanh]

It is not always that way.....
Blindly going non-comp can also give us 0% yield.

• I have applied for 20k non-comp on the 10Nov22 issue. Got only 10k allotted.
• On the same issue, I also applied for 16k on comp at 3.95%. Got all the 16k allotted.

Auction Results (10 Nov 2022)

Allotment​

Total Amount Allotted S$4.5 billion
Amount Allotted to Non-Competitive Applications S$1.8 billion
Amount Allotted to MAS S$0.0 million
Total Amount Applied S$14.2 billion
% of Competitive Applications at Cut-off AllottedApproximately 64%
% of Non-Competitive Applications Allotted 49.68%
Bid-to-Cover Ratio 3.17

Yield and Price​

Cut-off Yield 4% p.a.
Cut-off Price 98.005
Median Yield 3.5% p.a.
Median Price 98.255
Average Yield 2.87% p.a.
Average Price 98.569

Previously 40% for non-comp was way below so it is good to be non-comp. Past few issues that 40% have been breached so must go for comp. Bid slightly lower to ensure you get full allotment else you get pro-rated allotment. Some readers are complaining this group of low bidders which to me is nothing wrong. Not happy don't participate no one force a gun against your temple must play else die by gunshot

 

[surefire888]

Using the same example, total tbill amount = 5000
A bid 5% 1k
B bid 6% 1k
C bid 7% 1k
D bid 8% 1k
E bid 9% 1k
f bid 10% 1k
G bid 11% 1k
COY = 9%

Is E a lowball guy, yes he is, if he did not bid, the COY would have risen to 10%. his bid helped to bring the COY down to 9%. This is my point

Of course. But that doesn't make him a lowballer just because he is successful in his bid

If u advertise something for sale at $100 and someone offers you $99, you dont call him a lowballer. If someone offers you $10 THEN u call him a lowballer!

 

[konan~]

Of course. But that doesn't make him a lowballer just because he is successful in his bid

Correct lor, 4% also low baller, 9% also low baller. Must be higher than the COY then wouldn’t be called low baller. Like that, why bid?

 

[surefire888]

Correct lor, 4% also low baller, 9% also low baller. Must be higher than the COY then wouldn’t be called low baller. Like that, why bid?

Your understanding of lowballer is very different from mine, let's leave it at that

Edit: sorry, i mean dork's understanding

 

[mp4005 help]

actually just curious , everyone put in like $1m is it ?

why so agitated over 0.1-0.2% ?

100k @ 1% / 2 = $500 Nia over 6 months.

I guess everyone here really rich .. life changing amounts that must debate until like this.

 

[dork32]

It is not always that way.....
Blindly going non-comp can also give us 0% yield.

• I have applied for 20k non-comp on the 10Nov22 issue. Got only 10k allotted.
• On the same issue, I also applied for 16k on comp at 3.95%. Got all the 16k allotted.

Auction Results (10 Nov 2022)

Allotment​

Total Amount Allotted S$4.5 billion
Amount Allotted to Non-Competitive Applications S$1.8 billion
Amount Allotted to MAS S$0.0 million
Total Amount Applied S$14.2 billion
% of Competitive Applications at Cut-off AllottedApproximately 64%
% of Non-Competitive Applications Allotted 49.68%
Bid-to-Cover Ratio 3.1if 7

Yield and Price​

Cut-off Yield 4% p.a.
Cut-off Price 98.005
Median Yield 3.5% p.a.
Median Price 98.255
Average Yield 2.87% p.a.
Average Price 98.569

you totally dont understand how non comp or how the bidding works. it is when enough people bid 0% that the yield will be 0%

i say non comp is good because non comp does pull down the yield in your case. you are the hero. we do not need more lowballers. we need more heroes like you

 

[dork32]

Of course. But that doesn't make him a lowballer just because he is successful in his bid

If u advertise something for sale at $100 and someone offers you $99, you dont call him a lowballer. If someone offers you $10 THEN u call him a lowballer!

your definition of lowballer is very subjective. you say 9 % is not a lowballer. i say it is. i bid 20%. that 9 % lowball guy has prevented the yield to reach 20%.

our definition of lowballer is not subjective. as long as you helped to lower the coy, you are a LOWballer. you caused the yield to be LOWer

 

[dork32]

Your understanding of lowballer is very different from mine, let's leave it at that

so how many % then not lowballer? everyone has a different answer.

 

[dork32]

Of course. But that doesn't make him a lowballer just because he is successful in his bidIf u advertise something for sale at $100 and someone offers you $99, you dont call him a lowballer. If someone offers you $10 THEN u call him a lowballer!

so what number then lowballer, $80, $70? there is no answer. you yourself cannot give a number. even if you give one, you totally have no mathematical justification for that number,

my definition of lowballer is 99 is a lowballer. he tries to lower my call of 100. it is only when he match my asking price of 100 that he is not a lowballer.

i do buy from carousel. everyone is lowballing there, you dont do it, you are just a hero (idiot).

 

[dork32]

actually just curious , everyone put in like $1m is it ?

why so agitated over 0.1-0.2% ?

100k @ 1% / 2 = $500 Nia over 6 months.

I guess everyone here really rich .. life changing amounts that must debate until like this.

you heard how much henry went in with his cpf, 600k. 4% of that is 24k. that is a lot of money. it is worth arguing here.