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PREVIEW: Liquidity Enhancement Auction For OTR 15.5- To 39-Year JGBs Due

JGBS AUCTION

The Japanese Ministry of Finance (MOF) will today sell Y500bn of JGBs with 15.5-39 Years until maturity in a liquidity enhancement auction. JB#1-15, #30-77 & #167-183 will be on offer.

  • The previous liquidity enhancement auction covering these maturities was held on 13 February 2023. The auction was covered 3.004x at an average spread of -0.005%, a high spread of -0.003% was registered, with 13.9264% of the bids allotted at the high spread.
  • General flatness of the curve may limit overall takedown at today’s auction, although the recent worry surrounding the global banking sphere and shift lower in market pricing re: terminal rates across the major global central banks are supportive factors, as is the reduction in market pressure on the BoJ’s YCC band.
  • 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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