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Looking at the breakdown of the latest BoJ.....>

JGBS
JGBS: Looking at the breakdown of the latest BoJ Rinban operations.
- The 1-3 Year operations saw the offer to cover ratio come in a touch to 2.25x
(prev. 2.42x), with the average yield spread moving back into positive
territory.
- The 3-5 Year operations saw the offer to cover ratio moderate to 2.06x (prev.
3.17x), with the average yield spread in this bucket also moving back into
positive territory.
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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