Japan finance ministry 30 year Japanese Government Bond auction bid-to-cover ratio 2.92
- prior sale 3.07
- & 12-month average 3.39
- weakest demand ratio since 2023 (in December 2023 ut was 2.615)
- average yield 2.904%, yield at lowest accepted price 2.938%
- auction tail at 0.49 yen versus 0.30 yen at previous auction
Not strong results in Japan. The weak demand reflects the concerns over rising yields globally, not just in Japan.
Added:
- Yield on 20-yr JGB pares decline after auction results, last down 3.5 bps at 2.39%
- Yield on 30-yr JGB pares decline after auction results, last down 2.5 bps at 2.92%
Finance minister Kato
This article was written by Eamonn Sheridan at www.forexlive.com.