Japan’s Ministry of Finance accepted ¥248.9 billion in competitive bids at its Oct. 27 liquidity enhancement auction for Japanese government bond (JGB) market special participants.
Competitive bids totaled ¥990.3 billion. The highest accepted spread and the average accepted spread were each 0.001% below the reference rate. At the highest accepted spread, the ministry allotted 90.4883% of bids. The ministry’s results table says the spread figures are measured against the reference rate.
The ministry had planned an operation of about ¥250 billion and listed 20-, 30- and 40-year issues as eligible, according to its schedule and the earlier auction plan.
At the previous Oct. 22 liquidity auction, the ministry accepted ¥498.8 billion from ¥1.8804 trillion in bids. The highest accepted spread was 0.007% below the reference rate, while the average was 0.010% below. The issue date for the Oct. 27 sale is Oct. 28.
