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

JGBS AUCTION
JGBS AUCTION: The Japanese Ministry of Finance will today auction Y500bln of
JGBs with 15.5-39.0 years until maturity in a liquidity enhancement auction.
- The previous enhanced liquidity auction covering these maturities was held on
April 05. The auction was covered 2.49x at an average spread of 0.002%, and a
high spread of 0.008% with 41.8655% bids allotted at the high yield. Y500bln
worth of paper was offered.
- The takedown at the most recent liquidity enhancement auction was dominated by
the 30-Year #32 & #33, which accounted for Y235bln worth of the supply.
- The Japanese 5-/30-Year JGB yield spread has ticked away from last week's lows
following the recovery in risk sentiment & the BoJ's adjustment of the size of
its 5-10 Year Rinban operations.
- 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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