Here's what to expect for the 6-month Singapore T-bill auction on 30 July

What happened?

The next 6-month Singapore T-bill auction (BS26115N) will be on 30 July.

In the previous auction on 16 July, the cut-off yield for the 6-month Singapore T-bill rose to 1.55% from the yield of 1.50% in the previous auction on 2 July.

We have also seen the cut-off yield for the latest 1-year Singapore T-bill jumped to 1.68% 

With the cut-off yield rising, I have seen more discussion in the Beansprout community about whether Singapore T-bill yield could continue to increase.

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 30 July

#1 – US 10-year government bond yield moved higher

The 10-year US government bond yield has increased to 4.70% as of 24 July 2026, above its level of 4.54% two weeks ago.

US government bond yields rose earlier in the week as renewed US-Iran tensions pushed oil prices past $100 a barrel, raising concerns that an energy price shock could keep inflation elevated.

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 up to 4.15% as of 10 July 2026, from 4.04% two weeks earlier.

#2 – Singapore government bond yields moved significantly higher

The 10-year Singapore government bond yield was at 2.41% as of 23 July 2026, higher from 2.14% two weeks ago.

The increase in the 10-year yield largely mirrored the steep rise in the US 10-year government bond yield.

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

The closing yield on the 6-month T-bill was at 1.53% on 23 July 2026, close to the cut-off yield of 1.55% in the previous T-bill auction on 16 July.

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 1.48% in the auction on 21 July 2026, slightly higher than the cut-off yield of 1.47% on 14 July.

#3 – Issuance size is lower than the previous auction

The issuance size of the upcoming 6-month Singapore T-bill is $8.6 billion, lower than the previous auction size of $8.8 billion on 16 July.

We saw a slight fall in T-bill applications to S$16.0 billion in the auction on 16 July from S$17.4 billion in the auction on 2 July.

If demand continues to fall in the upcoming auction, it may offset the reduced amount of T-bills issued, supporting the cut-off yield in the upcoming auction.

What would Beansprout do?

The closing yield on the 6-month Singapore T-bill was at 1.53% on 23 July 2026, close to the cut-off yield in the previous auction.

We have also seen a rise across all yields in both Singapore and the US.

While there will be a lower amount of T-bills issued in the upcoming auction, the demand for T-bills has also been falling. This may help support the cut-off yield of the upcoming auction.

As we are at the mid point of 2026, 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 1.53% is slightly lower the best 6-month fixed deposit rate of 1.55% p.a.

While some banks have cut savings account interest rates over the past few months, we were still able to find savings accounts in Singapore that offer an interest rate of above 1.53% 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 2.06% p.a., while offering the flexibility to redeem prior to maturity. 

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

By keeping enough accessible cash in this pot, I am better able to ride through market volatility without having to sell my investments at the wrong time. Learn more about the liquidity pot here.

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• Reminder for Tbill

The 6-month Singapore auction will be held on 30 July (Thursday). We would need to put in our cash applications for the T-bills by 9pm on 15 July (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 29 July (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 29 July (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 28 July (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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