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PREVIEW: 2-Year Supply Due

JGBS AUCTION

The Japanese MOF will today sell Y3.0tn of 2-Year JGB's opening JB#425. The MOF last sold 2-Year debt on April 28, the auction drew cover of 4.492x at an average yield of -0.130%, average price of 100.270, high yield of -0.128%, low price of 100.265, with 62.8454% of bids allotted at the high yield.

  • 2-Year supply is once again expected to pass without any major hiccups given the BoJ's ultra-dovish monetary policy settings/forward guidance and x-ccy basis dynamics.
  • Results due at 0435BST/1235JST.
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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