Nov 1, 2011
Solid 10-year JGB auction against lowered yield
Ministry of Finance reopened the issue of 2.2 trillion yen of 10-year JGB today. Although JPY yields declined in the morning, the auction was stronger than expected. B/C ratio increased from 3.15 in October to 3.26, and the 0.01-yen tail became narrower than 0.02 in the previous month. Anonymous takedowns of 686 billion yen are the largest since the lase seven months, which imply major banks’ solid appetite for the long sector.
About
