Free Trial

PREVIEW: 2-Year JGB Supply Due

JGBS AUCTION

The Japanese MOF will today sell Y2.8tn of 2-Year JGBs opening JB#443. The MOF last sold 2-Year debt on 27 October, the auction drew cover of 4.155x at an average yield of -0.031%, average price of 100.074, high yield of -0.027%, low price of 100.065, with 41.4205% of bids allotted at the high yield.

  • The BoJ’s on hold stance and persistent unattractiveness of offshore bonds from the perspective of a Japanese investor, owing to ongoing market volatility and elevated FX hedging costs, should ensure that that this auction goes smoothly.
  • Also note that outright yields operate just shy of their cycle peak, hovering within touching distance the 0% level, which should further bolster demand.
  • Results due at 0335GMT/1235JST.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

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.