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Regular readers might remember that AK didn't sound too interested in 6 months T-bills anymore in a recent blog.
Why?
Simply put, the yield was falling and promotional fixed deposit interest rates from the banks were equally attractive or getting more attractive for a 6 months tenor.
Too lazy to go into details again here and some might be offended if I do.
So, for those who don't remember or would like to refresh their memory, see:
SSB, T-bill, "Fed up."
Still, I was expecting at least a smelly smelly 3.8% p.a.
That would not be very attractive but it would still make sense for people trying to get a higher return with their CPF OA money.
Although I was not very interested, at the back of my mind, I was wondering if I should try my luck?
After all, it is an auction and I could be wrong and I said so in the blog.
However, what piqued my interest was a reader's comment in the said blog.
Keng speculated that some people might play hard to get and push up the yield.
I found his comment interesting and I even made a YouTube video out of it:
Anyway, I put in a $10,000 non-competitive bid just to tikam.
Well, the rest is history.
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| Source: MAS |
4.4% cut-off yield!
This is the highest ever since I started my T-bill adventure in October!
100% allotted too!
Alamak!
Should have put in a larger sum.
LOL.
Imagine betting on 4D and getting the first prize when we betted only $1.
Yes, similar feeling.
LOL.
It is like a box of chocolates.
We don't know what we might get.
Auctions are like this.
So, did sanity return to the T-bill auction?
Or was it simply a case of herd mentality?
Quite possibly, like me, many were expecting the yield to be lower.
So, quite possibly, many who participated before did not participate in this auction.
Now, with this "earth shattering" 4.4% p.a. yield, could we see an increased interest in the next auction this month?
I could hazard a guess but I think I will not.
Too hazardous.
LOL.
Huat ah!
Related post:
4% p.a. 6 months FD promo.
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