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The Japanese Ministry of Finance.......>

JGBS AUCTION
JGBS AUCTION: The Japanese Ministry of Finance will today auction Y550bln of
5-15.5 Year JGB's in an enhanced liquidity auction.
- The previous enhanced liquidity auction in this maturity was held on February
20. The auction was covered 3.8029x at an average spread of -0.008%, and a high
spread of 0.001% with 25.0455% bids allotted at the high spread.
- The previous takedown was dominated by 20-Year Jun 2024 #70 with Y275.0bln of
that line reopened.
- The offer to cover-ratio ticked up at the most recent 5-10 Year Rinban
operation, however, demand for longer dated paper has remained firm heading in
to FY end.
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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