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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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PREVIEW: 15.5- To 39-Year Liquidity Enhancement Auction Due
The Japanese Ministry of Finance (MOF) will today sell Y500bn of JGBs with 15.5-39 Years until maturity in a liquidity enhancement auction. JB#1-13, #27-72 & #162-178 will be on offer.
- The previous enhanced liquidity auction covering these maturities was held on December 23. The auction saw Y499.3bn issued and was covered 2.076x at an average spread of 0.000%, and a high spread of +0.004%, with 23.8095% of the bids allotted at the high spread.
- #JB177 accounted for ~Y95bn of the takedown at the previous auction, that represented the largest takedown in individual line terms. Meanwhile, JB#35-37 accounted for a cumulative ~Y115bn of the takedown. JB#13 accounted for ~Y72bn of the takedown.
- A reminder that a couple of this week’s Tokyo trading sessions have seen footprints of Japanese lifer demand in the super-long end of the curve. This could show up in today’s auction, supporting demand, given the recent cheapening in that zone of the curve and pre-disclosed investment intentions on the part of domestic life insurers.
- Results due at 0335GMT/1235JST.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.