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OTR 1- To 5-Year Liquidity Enhancement Auction Digested Smoothly

JGBS

Incremental slippage when it comes to the average and high spreads that prevailed at the latest liquidity enhancement auction covering off-the-run 1- to 5-Year JGBs (when compared to the prior auction), with the cover ratio also ticking lower. However, these metrics still depict smooth takedown of today’s supply. The post-BoJ stabilisation in longer dated JGBs may have limited overall demand.

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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