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No Notable Market Impetus From Latest Liquidity Enhancement Auction

JGBS

A solid enough liquidity enhancement auction for off-the-run 1- to 5-Year JGBs sees a marginal widening of the spread tail, with the auction clearing at slightly higher spread levels when compared to the previous offering of off-the-run 1- to 5-Year JGBs. Meanwhile, the cover ratio ticked lower, but held above the 4.00x marker. Nothing in the way of notable market reaction in the 2- to 5-Year zone, with the benchmark JGBs in that area of the curve running little changed to a touch richer vs. levels observed at the end of morning trade.

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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