non-competitive 会比较容易抽到, 对吗 ?A competitive bid is one where you have to specify the price (to be expressed in terms of
percentage yield) that you are willing to pay for the SGS bond/T-bill. You may or may not be
allotted the securities after the auction, depending on your submitted yield relative to the
yields submitted by all the other competitive bidders. In the context of SGS Bonds and T-bill
auctions, a lower yield represents a more competitive bid as the bidder is indicating that
he/she will accept a lower interest rate.
A non-competitive bid is one where you do not specify a price (to be expressed in terms of
percentage yield) but you are willing to be allotted the SGS Bonds/T-bills at a uniform yield
based on the results of the competitive tenders.
All non-competitive bids will be satisfied first, and the balance of the amount to be issued is
then awarded to those who have submitted competitive bids. In all SGS Bonds/T-bills
auctions, 40% of the total issuance amount is reserved fo
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Non competitive能保证你拿到券
但是价格跟着cut off走,万一那期收益率比较低就吃亏。
Competitive就是你挂一个收益率,只要cut off比你的收益率高你就能按cut off价格买到券,相当于是一个limit order。比如上期6m tbill cut off在1.56%,competitve放1.5%就能买到,放1.57%就买不到。反正下期5月11号就知道结果了,应该比上期高,可以放个1.6%试试,这期SSB第一年利率是1.43%,怎么也不会比这个差,没买到再去买SSB也不迟。
Competitive就是你挂一个收益率,只要cut off比你的收益率高你就能按cut off价格买到券,相当于是一个limit order。比如上期6m tbill cut off在1.56%,competitve放1.5%就能买到,放1.57%就买不到。反正下期5月11号就知道结果了,应该比上期高,可以放个1.6%试试,这期SSB第一年利率是1.43%,怎么也不会比这个差,没买到再去买SSB也不迟。
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