Should I purchase the upcoming Treasury Bill?

Question

Should I be purchasing the upcoming Treasury Bill? This is a question that quite a number of people asking me.

How does MAS Treasury Bill works?

This means what when you apply for 12k for a 6-month T-Bills (for example) and successfully auction and get 10k at 4% yield. On the refund day, you will get back 2000 + 10000*182/365*0.04 = 2000 + 199.45= 2199.45 (assuming 6 month is 182 days). At the end of 6 months (182 days), you will get back your $10k.

For those who are unaware how this work, Treasury Bill is issued by the Singapore Government on a regular basis. From the main website itself, they are short-term Singapore Government Securities (SGS) issued at a discount to their face value. Investors receive the full face value at maturity. The Government issues 6-month and 1-year T-bills.

Upcoming MAS Treasury Bill

The upcoming treasury bill is open now with auction date on 8 Dec 2022. If I look at the past statistics, I will estimate the yield to be 3.5% to max 4.0% (quite likely my guess will be 3.6%).

Should I purchase the upcoming Treasury Bill?

To answer this question, my answer will be no if you have more than 10k to invest.

This because there are a lot more better options available.

Other better options

For 10k, I can simply put into CIMB FD which give 3.95% for 10k for 6 months. I can also put into more liquid accounts such as UOB ONE that can easily go to 5% with $500 spend and salary credit OR OCBC 360 which can go easily to 4.05% with just salary credit and save bonus. All these options provide higher yield with better liquidity.

Other options which include SSB that allowed you to lock 3% plus rate for 10 years. Or simply use Money Market Funds like Moneyowl Wisesaver, which give 3.68% using Fullerton Professionally Managed Cash Solution by Fullerton Fund Management (Temasek-Owned). Low return high return!

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Why waste time and take the extract effort to ballot?

Conclusion

Hope this article make your choice easier. Take care and see you next time!

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