Here's what to expect for the 6-month Singapore T-bill auction on 27 August

What happened?

The next 6-month Singapore T-bill auction (BS26117A) will be on 27 August.

In the auction on 13 August, the cut-off yield for the 6-month Singapore T-bill fell to 1.56% from 1.59% in the previous auction on 30 July.

This has led to more discussion in the Beansprout community about whether the 6-month T-bill yield could decline further in the upcoming auction.

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 27 August

#1 – US 10-year government bond yields dipped

The 10-year US government bond yield dipped slightly to 4.65% as of 19 August 2026, slightly lower than its level of 4.67% two weeks ago.

US government bond yields remained elevated as persistent inflation, volatile oil prices and resilient economic data raised expectations that the Federal Reserve may keep interest rates higher for longer.

At its most recent meeting, the Federal Reserve also raised its inflation and rates outlook for 2026.

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

Similarly, the 1-year US government bond yield edged lower to 3.98% as of 19 August 2026, from 4.06% two weeks earlier.

#2 – Singapore government bond yields moved higher

The 10-year Singapore government bond yield was at 2.36% as of 19 Aug 2026, up from 2.28% two weeks ago.

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

The closing yield on the 6-month T-bill was at 1.55% on 20 August 2026, close to the cut-off yield of 1.56% in the previous T-bill auction on 13 August.

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 1.47% in the auction on 18 August 2026, close to the cut-off yield of 1.48% on 12 August 2026.

#3 – Issuance size is the same with the previous auction

The issuance size of the upcoming 6-month Singapore T-bill is $8.7 billion, the same with the previous auction size of $8.7 billion on 13 August.

We saw a rise in T-bill applications to S$18.5 billion in the auction on 13 August from S$18.1 billion in the auction on 30 July.

The same issuance size but stronger demand may lower the cut-off yield for T-bills in the upcoming auction.

What would Beansprout do?

The closing yield on the 6-month Singapore T-bill was 1.55% on 20 August, close to the cut-off yield of 1.56% in the previous auction.

This comes as both the US government bond yields and Singapore government bond yields have stayed elevated in recent weeks.

Currently, the closing yield on the 6-month Singapore T-bill of 1.55% is lower than the best 6-month fixed deposit rate of 2% p.a.

With some banks starting to increase savings account interest rates, we were able to find savings accounts in Singapore that offer an interest rate of above 1.55% p.a.

The current issuance of the Singapore Savings Bonds (SSB) offers a 1-year return of 1.52%, and 10-year average return of 2.25% 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 August 2026 here.

Within my Four Pots of Wealth, this cash forms part of my liquidity pot, which gives me a stable base while the rest of my portfolio remains invested. Learn more about the liquidity pot here.

Stay updated on the T-bill

Sign up to receive a free email reminder when the next Singapore T-bill auction is open.

Subscription preferences

• Reminder for Tbill

The 6-month Singapore auction will be held on 27 August (Thursday). We would need to put in our cash applications for the T-bills by 9pm on 26 August (Wednesday).

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.

Enjoyed this insight? Follow Beansprout on Telegram, Youtube, Facebook and Instagram, and add Beansprout as your preferred source on Google so you never miss an update.