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The most recent set of BoJ Rinban operations...>

JGBS
JGBS: The most recent set of BoJ Rinban operations were slightly softer than the
previous operations across each of the respective buckets.
- The 1-3 Year bucket saw an uptick in the offer to cover ratio to 3.99x from a
prior 3.28x, while the spread breakdown was relatively stable.
- The 3-5 Year bucket also saw an uptick in the offer to cover ratio to 3.51x
from a prior 3.17x, which pushed the spread up in to positive territory i.e.
priced below market.
- The 5-10 Year bucket experienced a notable uptick in the offer to cover ratio
to 3.65x from a prior 2.43x, which pushed the spread up in to positive
territory.
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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