Here's what to expect for the T-bill auction on 18 June

What happened?

The next 6-month Singapore T-bill auction (BS26112T) will be on 18 June.

In the previous auction on 4 June, the cut-off yield for the 6-month Singapore T-bill climbed to 1.48% from the yield of 1.45% in the previous auction on 21 May.

This represents the highest 6-month T-bill yield so far in 2026.

With the rise in cut-off yield, the Beansprout community has been discussing whether we could see a further rebound in the Singapore T-bill yield.

In this article, I’ll look at some of the latest indicators to help us understand what the upcoming cut-off yield might be.

Here's what to expect for the Singapore T-bill auction on 18 June

#1 – US 10-year government bond yield remains elevated 

The 10-year US government bond yield was at 4.46% as of 12 June 2026, close to its level of 4.50% two weeks ago.

The upward pressure on US government bond yields has eased following signs of de-escalation in Middle East tensions, which helped reduce concerns over a potential oil price shock and its impact on inflation.

However, yields remained elevated as investors continued to grapple with persistent inflation pressures, a resilient US economy, and concerns over the country's fiscal deficit and growing government debt burden. 

These factors have reinforced expectations that interest rates may remain higher for longer, supporting higher long-term bond yields.

You can check the latest 10-year US government bond yield here.

In fact, the 1-year US government bond yield edged up to 3.87% as of 28 May 2026, from 3.84% two weeks earlier.

#2 – Singapore government bond yields edged higher

The 10-year Singapore government bond yield was at 2.11% as of 12 June 2026, slightly higher from 2.05% two weeks ago.

This follows the trend of elevated US government bond yields in recent weeks. 

You can check the latest 10-year Singapore government bond yield here.

The closing yield on the 6-month T-bill was at 1.46% on 26 May 2026, close to the cut-off yield of 1.48% in the previous T-bill auction on 4 June.

The yield on the 3-month MAS bill can also indicate the yields for shorter-maturity Singapore government bonds.

The cut-off yield was at 1.53% in the auction on 9 June 2026, much higher than the cut-off yield of 1.40% on 3 June.

#3 – Issuance size is lower than the previous auction

The issuance size of the upcoming 6-month Singapore T-bill is $8.2 billion, lower than the previous auction size of $8.5 billion on 4 June.

We saw a sharp decrease in T-bill applications to S$14.1 billion in the auction on 4 June from S$18.0 billion in the auction on 21 May. 

If demand falls further in the upcoming auction, this may help to offset the smaller issuance size in the upcoming auction.

What would Beansprout do?

The closing yield on the 6-month Singapore T-bill was at 1.46% on 11 June 2026, close to the cut-off yield in the previous auction.

However, we have seen a jump in the 3-month MAS bill, while US government bond yields remain elevated.

This may mean that the 6-month Singapore T-bill yield may stay supported, even as concerns on the Middle East conflict start to ease.

With continued global geopolitical uncertainty, I have been evaluating my financial plan to make sure it offers me sufficient security and peace of mind.

The first step is to make sure I have sufficient cash put aside for emergency uses through my liquidity pot within Beansprout's four pots of wealth, where I would then put into a mix of savings accounts, fixed deposits, T-bills, SSBs and money market funds. Learn more about the liquidity pot here. 

Then, I would see how I can earn a higher yield on this pot of emergency cash, while maintaining the liquidity I may need.

Currently, the closing yield on the 6-month Singapore T-bill of 1.46% is slightly below the best 6-month fixed deposit rate of 1.50% p.a.

While banks have been cutting the interest rates on savings accounts, we were still able to find savings accounts in Singapore that offer an interest rate of above 1.46% p.a.

The current issuance of the Singapore Savings Bonds (SSB) offers a 1-year return of 1.46%, and 10-year average return of 2.11% p.a., while offering the flexibility to redeem prior to maturity. 

I compare savings accounts, fixed deposits, T-bills, SSBs and money market funds to find the best places to park your cash in June 2026 here.

By finding the best place to park my cash, I know that I have a stable base for the rest of my portfolio to stay invested through markets ups and downs. 

When this pot is properly set up, I know I can ride through market volatility without being forced to sell my investments at the wrong time.

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• Reminder for Tbill

The 6-month Singapore auction will be held on 18 June (Thursday). We would need to put in our cash applications for the T-bills by 9pm on 17 June (Wednesday).

Applications for the T-bills using CPF-OA will close 1-2 business days before the auction date, and the dates differ across the three local banks.

• Applications for T-bills online using CPF OA via DBS close at 9pm on 17 June (Wednesday). Read our step-by-step guide to applying via DBS.
• Application for T-bills online using CPF OA via OCBC close at 9pm on 17 June (Wednesday). Read our step-by-step guide to applying via OCBC
• Applications for T-bills online using CPF OA via UOB close at 9pm on 16 June (Tuesday). Read our step-by-step guide to applying via UOB.  

Do you prefer to park your cash in T-bills or fixed deposits? Share with us in the comments below or in our Telegram group!

If you are new to investing in the T-bill, check out our comprehensive guide to Singapore T-bills to learn more.

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