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BOJ Rinban Operations Suggest Support For JGBs In Afternoon Dealings

JGBS

This morning’s BOJ Rinban operations saw positive spreads for the buckets out to the 10-year but a negative spread for the 10-25-year bucket.

  • The offer cover ratios were however universally lower (1-3-year: 1.57x, 3-5-year: 2.33x, 5-10-year: 1.13x and 10-25-year: 1.01x).
  • Overall, the results may generate some slight support, particularly for the 10-25-year bucket, in the early rounds of the Tokyo afternoon session.

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