MNI BRIEF: Fed's Goolsbee Taking Job Gains With Grain Of Salt

BRIEF: EU Says Engaging With China Over EV Trade Dispute

MNI BRIEF: Draghi Calls For Tariffs, Subsidies Against China

MNI BRIEF: China May M2 Slows To Record Low Again

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

US Treasury Auction Calendar

MNI: BAKER HUGHES US RIG COUNT 590; OIL RIGS 488; GAS RIGS 98

EZ/UK Bond Supply Calendar: Slovakia, Belgium, BoE APF Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

PREVIEW: Liquidity Enhancement Auction For OTR 1- to 5-Years JGBs

JGBS AUCTION

The Japanese Ministry of Finance (MOF) will today sell Y500bn of JGBs with 1-5 years until maturity in a liquidity enhancement auction. JB#70-101, #140-156, #334-350 & #436-448 will be on offer.

  • The previous liquidity enhancement auction covering these maturities was held on 9 March 2023. The auction was covered 3.205x at an average spread of -0.003%, a high spread of 0.000%, with 96.7889% of the bids allotted at the high spread.
  • Although this event offers an opportunity to access liquidity, and therefore will likely generate at least a baseline level of demand, the early March offering suggested only a moderate level of demand for this part of the curve.
  • However, it's worth noting that the previous auction took place at a time when bond prices were at their highest for the year, during the height of the U.S. banking crisis, and after the Bank of Japan had kept its monetary policy settings unchanged. Given the subsequent drop in bond prices, it's possible that we'll see a different outcome this time around.
  • Results due at 0435BST/1235JST.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

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.