Free Trial

PREVIEW: The Japanese MOF will today...>

JGBS AUCTION
JGBS AUCTION: PREVIEW: The Japanese MOF will today sell Y2.0tn of 2-Year JGB's
reopening #JB398. The MOF last sold 2-Year debt on February 28, the auction drew
cover of 5.267x at an average yield of -0.154%, average price of 100.511, high
yield of -0.151%, low price of 100.505, with 34.0471% of bids allotted at the
high yield.
- Outright 2-Year yields sit around 1.5bp off of their YtD low, with support for
the space driven by a swathe of dovish central bank pivots, and worries over the
health of the global economy.
- 2 Year JGBs look a little rich in ASW & Z-spread terms when compared to the
recent averages.
- On the curve, the 2-/5-Year spread sits at the lowest level seen since 2016.
- 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.