The Monetary Authority of Singapore (MAS) 12-Week Bill Auction represents the sale of short-term debt obligations by the central bank. These auctions are a key tool for managing liquidity within the Singaporean banking system and influencing short-term interest rates. Investors monitor the yield or 'cut-off yield' to gauge the demand for the Singapore Dollar and the central bank's current monetary stance. A higher-than-expected yield can indicate tightening liquidity or rising interest rate expectations.
The auction is conducted via a competitive bidding process where institutional investors submit bids. The MAS determines the cut-off yield based on the total amount of bids received versus the target issuance amount.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Sep 1, 2026 | 1.65 | — | — |
| Aug 25, 2026 | 1.49 | — | — |
| Aug 18, 2026 | 1.47 | — | — |
| Aug 12, 2026 | 1.48 | — | — |
| Aug 4, 2026 | 1.47 | — | — |
| Jul 28, 2026 | 1.56 | — | — |
| Jul 21, 2026 | 1.48 | — | — |
| Jul 14, 2026 | 1.47 | — | — |
| Jul 7, 2026 | 1.47 | — | — |
| Jun 30, 2026 | 1.42 | — | — |
| Jun 23, 2026 | 1.46 | — | — |
| Jun 16, 2026 | 1.43 | — | — |
| Jun 9, 2026 | 1.53 | — | — |
| Jun 3, 2026 | 1.40 | — | — |
| May 26, 2026 | 1.40 | — | — |
| May 19, 2026 | 1.41 | — | — |
| May 12, 2026 | 1.42 | — | — |
| May 5, 2026 | 1.39 | — | — |
| Apr 28, 2026 | 1.38 | — | — |
| Apr 21, 2026 | 1.36 | — | — |
| Apr 14, 2026 | 1.39 | — | — |
| Apr 7, 2026 | 1.44 | — | — |
| Mar 31, 2026 | 1.43 | — | — |
| Mar 24, 2026 | 1.48 | — | — |
| Mar 17, 2026 | 1.43 | — | — |
| Mar 10, 2026 | 1.39 | — | — |
| Mar 3, 2026 | 1.32 | — | — |
| Feb 24, 2026 | 1.32 | — | — |
| Feb 16, 2026 | 1.34 | — | — |
| Feb 10, 2026 | 1.31 | — | — |
| Feb 3, 2026 | 1.35 | — | — |
| Jan 27, 2026 | 1.32 | — | — |
| Jan 20, 2026 | 1.35 | — | — |
| Jan 13, 2026 | 1.37 | — | — |
| Jan 6, 2026 | 1.45 | — | — |
| Dec 23, 2025 | 1.61 | — | — |
| Dec 16, 2025 | 1.44 | — | — |
| Dec 9, 2025 | 1.55 | — | — |
| Dec 2, 2025 | 1.40 | — | — |
| Nov 25, 2025 | 1.43 | — | — |
| Nov 18, 2025 | 1.39 | — | — |
| Nov 11, 2025 | 1.38 | — | — |
| Nov 4, 2025 | 1.39 | — | — |
| Oct 28, 2025 | 1.39 | — | — |
| Oct 22, 2025 | 1.42 | — | — |
| Oct 14, 2025 | 1.43 | — | — |
| Oct 7, 2025 | 1.48 | — | — |
| Sep 30, 2025 | 1.46 | — | — |
| Sep 23, 2025 | 1.42 | — | — |
| Sep 16, 2025 | 1.39 | — | — |
