Japan sells JPY 1.99tln 10yr JGBs, b/c 3.20x (prev. 3.30x), average yield 2.249% (prev. 2.095%)

Newsquawk Staff · 3 Feb 2026, 03:55 UTC

Lowest accepted price 98.74 vs prev. 99.99
Average accepted price 98.79 vs prev. 100.04
Tail in price 0.05 vs prev. 0.05

What it means

Japan's recent auction of JPY 1.99 trillion in 10-year JGBs saw a slight decline in demand with a bid-to-cover ratio falling from 3.30x to 3.20x, indicating reduced appetite among investors. Additionally, the average yield increased to 2.249%, suggesting a growing risk perception or a shift in expectations regarding future interest rates. This may pressurize the BoJ's stance on yield control, impacting both JPY and broader fixed income markets.

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EU Market Open, 9 Nov, 06:36 UTC · what it led with

US President Trump said it is highly unlikely the US will need to resume military action against Iran if negotiations progress, while Secretary of State Rubio said talks have been unproductive.
DXY consolidated after Friday's jobs-driven upside; Antipodeans outperformed, with the NZD aided by the weekend's election result.

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