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The Japanese Ministry of Finance (MOF) will....>

JGBS
JGBS: The Japanese Ministry of Finance (MOF) will today sell Y2.2tln of 2-Year
notes, the auction will have a 0.10% coupon and will be the first sale of new
issue #280, making it the on the run 2-Year.
- The line was last sold on July 27, drawing an average yield of -0.115%, a high
yield of -0.114% and covered 5.346x. In the grey market the issue currently
yields -0.139%, up 0.8bp on the session and following a broad sell off
yesterday.
- The auction is expected to be taken down smoothly despite the richer yield,
supply and demand conditions are favourable in the sector. Foreign demand is
also expected to support the auction with the debt ceiling approaching in the US
spooking some investors.
- The MOF will also sell Y4.4tln of 3-Month bills today. Bill results due at
0435BST/1235JST, 2-Year note results due at 0445BST/1245JST.

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