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Lacklustre 5-Year JGB Auction

JGBS

5-Year JGB supply wasn’t the firmest in recent history. The cover ratio slipped to print at the lowest level witnessed at a 5-Year JGB auction since May ’21, comfortably below the 6-auction average, although the price tail only experienced an incremental widening, holding tight. The low price met broader dealer expectations (which stood at 100.21, per the BBG dealer poll). No tangible market impact post-supply.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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