SGS allocation to “cash”  — reflected in CDP statements

SGS allocation to SRS account — not held at CDP, but held at custodian bank. DBS webank easily shows my live SRS assets including SGS.

==== cpfOA .. For CPF, 6M tBills make more sense (rather than SSB). Doesn’t affect the earmark. At a mid-month auction (or whatever) consider using cpfOA.

in-person application at the UOB. Come before 9.30am to avoid long queues.

With cash, the next best alternative is BOC FD, which is inferior to cpfOA.

🙁 $2/quarter for as long as your uob cpfia holds any tbill. If empty, then $0/quarter.

==== SSB
See also

• https://www.mas.gov.sg/bonds-and-bills/investing-in-singapore-savings-bonds/how-to-buy
• https://www.channelnewsasia.com/business/singapore-savings-bonds-invest-buy-cna-explains-2858316
• 🙁 $2 per application or redemption or application, to discourage small transactions
• After you apply a $3k purchase, SRS available balance drops by $3k (earmarked), but transaction history won’t show $3k until actual purchase

— any-time redemption .. https://www.mas.gov.sg/bonds-and-bills/investing-in-singapore-savings-bonds/how-to-redeem

• by 9pm on the 4th last business day of the month you can submit request to receive payout by 2nd business day of the following month
• 7am – 9pm Monday to Saturday, on webank or ATM
• quantum: in multiples of $500, up to allotted amount, but small redemptions are costly in $2 fee

==== 6M tBills

Q: on maturity date, when is the payment? Sometimes after 7pm

tBill auction rate is SnD-driven. Falling, but not really within weeks after end of Aug. It’s OK to take no action within Aug, and wait out the storm. If we do use comp bidding during Aug, then there’s an inevitable due diligence involved.

• 🙂 no fee for application or selling
• Liquidity is inferior to SSB .. must sell to DBS (not on SGX). Their quote is bad, but you can’t negotiate.

— Competitive bidding

If SSB is paying 2.98%, then I can put 2.98% as my competitive bid.

Scenario 1: other competitive bids are very high (demanding in terms of yield) so my bid ends up way below the cutoff. I would receive the cutoff yield which is higher than my bid.

Scenario 2: other competitive bids are very low (keen and accommodating) so my bid ends up way above the cutoff. I would receive full refund. After that, I am better off putting this amount into SSB.

Specify 3.69 not 3.70 for your comp bid. Case in point — the Aug-end auction. A huge portion of the comp bid concentrated at a singular yield level of 3.70. “Those who submitted competitive bids at the cut-off yield were allotted around 29 per cent of their applications.” I was wise to specify 3.69 and I managed to beat the crowd.