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PREVIEW: 2-Year JGB Supply Due

JGBS AUCTION

The Japanese MOF will today sell Y2.8tn of 2-Year JGBs, opening JB#441. The MOF last sold 2-Year debt on August 30, with the auction drawing cover of 3.612x, at an average yield of -0.083%, average price of 100.177, at a high yield of -0.079%, low price of 100.170 and with 0.4242% of bids allotted at the high yield.

  • The recent move higher in yields (to the highest outright level since June), coupled with the potential for foreign investor demand on the back of FX-hedged yield pickups should result in smooth digestion of the auction, at a minimum.
  • The actions of the BoE, deployed Wednesday, should also support demand.
  • Results are due at 0435 BST/1235 JST.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBulletMarketsFixed Income Bullets

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