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Soft 30-Year Auction

JGBS

A soft 30-Year JGB auction there, with more attractive 10-Year FX hedged yields on offer for Japanese investors in several G10 nations, while the current fiscal dynamic in the U.S. may also be keeping buyers away. The cover ratio hit the lowest level seen since June of last year, while the tail width doubled vs. the previous auction. The low price matched broader dealer expectations, as proxied by the BBG dealer poll.

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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