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PREVIEW: Liquidity Ement Auction For OTR 5- To 15-.5 Year JGBs Due

JGBS AUCTION

The Japanese Ministry of Finance (MOF) will today sell Y500bn of JGBs with 5-15.5 Years until maturity in a liquidity enhancement auction. JB#1-27, #97-163, & #348-366 will be on offer.

  • The previous enhanced liquidity auction covering these maturities was held on Jun 9. The auction saw Y499.4bn issued and was covered 6.153x at an average spread of -0.006%, and a high spread of -0.003%, with 80.6374% of the bids allotted at the high spread.
  • Note that today’s liquidity enhancement auction includes the CtD bond for JBU2 futures (JB#356), which could see strong demand after the BoJ enacted the ‘bullet-proofing’ of its YCC scheme in June, with the free float of that particular bond on the decline (estimates point to the Bank holding ~75% of that line).
  • Results due at 0435BST/1335JST.
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The Japanese Ministry of Finance (MOF) will today sell Y500bn of JGBs with 5-15.5 Years until maturity in a liquidity enhancement auction. JB#1-27, #97-163, & #348-366 will be on offer.

  • The previous enhanced liquidity auction covering these maturities was held on Jun 9. The auction saw Y499.4bn issued and was covered 6.153x at an average spread of -0.006%, and a high spread of -0.003%, with 80.6374% of the bids allotted at the high spread.
  • Note that today’s liquidity enhancement auction includes the CtD bond for JBU2 futures (JB#356), which could see strong demand after the BoJ enacted the ‘bullet-proofing’ of its YCC scheme in June, with the free float of that particular bond on the decline (estimates point to the Bank holding ~75% of that line).
  • Results due at 0435BST/1335JST.