When does BS26118E mature?

BS26118E matures on 16 Mar 2027. T-bills are zero-coupon: you pay below face value at issue and receive the full S$1,000 per bill at maturity.

What was the bid-to-cover ratio for BS26118E?

BS26118E had a bid-to-cover ratio of 1.97 — investors submitted S$1.97 in bids for every S$1 of issue size.

How does BS26118E's cutoff yield compare to recent 6-month T-bill auctions?

BS26118E's 1.70% cutoff is up 10 bp from the previous 6-month auction. Recent cutoffs: 1.60% (BS26117A, 27 Aug 2026), 1.56% (BS26116V, 13 Aug 2026), 1.59% (BS26115N, 30 Jul 2026).

How does BS26118E's cutoff yield compare to the current SSB?

BS26118E cleared at 1.70%, 3 bp higher than the latest SSB year-1 rate of 1.67% (GX26110X). The T-bill locks funds for the full 6-month; the SSB year-1 rate applies for one year then steps up annually toward the 10-year average of 2.45%.

What was BS26118E's cutoff vs median yield spread?

BS26118E cleared at a cutoff of 1.70% versus a median of 1.63% — a 7 bp spread. The cutoff is the highest yield accepted to fill the issue; the median is the middle of all submitted bids.

Can I buy BS26118E with CPF?

T-bills are CPFIS-OA and CPFIS-SA eligible — you can fund the purchase from your CPF Ordinary Account or Special Account via your bank's CPFIS portal. There are bank-specific fees and a "dead-money" gap to watch. See /learn/how-to-buy-t-bills-with-cpf/ for the full mechanics.

6-month T-bill

BS26118E

Auctioned 10 Sep 2026 · Issued 15 Sep 2026 · Matures 16 Mar 2027

Cutoff yield

1.70%

Median yield: 1.63%

Auction details

Bid-to-cover:: 1.97 (S$1.97 in bids for every S$1 of issue size)
Amount issued:: S$8.4B
Tenor:: 6-month

6-month cutoff yield history

Full interactive chart →

This auction in context

Yield change: The 1.70% cutoff is 10 bp higher than the previous 6-month auction (BS26117A, 1.60% on 27 Aug 2026).
Trailing 12 months: Across the previous 26 6-month auctions, cutoffs ranged from 1.36% to 1.60%. This cutoff sits above that range.
Demand: Bid-to-cover of 1.97× was in line with the trailing-12-month average of 2.03×.

Descriptive observations from MAS auction history — not forecasts or recommendations.

How this auction worked

MAS runs a uniform-price auction: every successful bidder — competitive or non-competitive — pays the cutoff yield. The cutoff is the highest yield accepted to fill the issue size; the median is the middle of all submitted bids, so the gap between them shows how far the last accepted bid sat above the middle of the pool. The bid-to-cover ratio is the total amount bid divided by the amount issued.

Allotment outcome

Non-competitive bids:: filled in full
Competitive bids at the cutoff:: 54.5% of the amount applied
Total bids received:: S$16.6B

As published by MAS for this auction. Non-competitive bids are allotted first and pro-rated only if they exceed 40% of the issue size.

Frequently asked questions

When does BS26118E mature?: BS26118E matures on 16 Mar 2027. T-bills are zero-coupon: you pay below face value at issue and receive the full S$1,000 per bill at maturity.
What was the bid-to-cover ratio for BS26118E?: BS26118E had a bid-to-cover ratio of 1.97 — investors submitted S$1.97 in bids for every S$1 of issue size.
How does BS26118E's cutoff yield compare to recent 6-month T-bill auctions?: BS26118E's 1.70% cutoff is up 10 bp from the previous 6-month auction. Recent cutoffs: 1.60% (BS26117A, 27 Aug 2026), 1.56% (BS26116V, 13 Aug 2026), 1.59% (BS26115N, 30 Jul 2026).
How does BS26118E's cutoff yield compare to the current SSB?: BS26118E cleared at 1.70%, 3 bp higher than the latest SSB year-1 rate of 1.67% (GX26110X). The T-bill locks funds for the full 6-month; the SSB year-1 rate applies for one year then steps up annually toward the 10-year average of 2.45%.
What was BS26118E's cutoff vs median yield spread?: BS26118E cleared at a cutoff of 1.70% versus a median of 1.63% — a 7 bp spread. The cutoff is the highest yield accepted to fill the issue; the median is the middle of all submitted bids.
Can I buy BS26118E with CPF?: T-bills are CPFIS-OA and CPFIS-SA eligible — you can fund the purchase from your CPF Ordinary Account or Special Account via your bank's CPFIS portal. There are bank-specific fees and a "dead-money" gap to watch. See /learn/how-to-buy-t-bills-with-cpf/ for the full mechanics.

BS26118E

This auction in context

How this auction worked

Allotment outcome

Frequently asked questions

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