Japan sells JPY 1.9tln 5yr JGBs; b/c 3.10x (prev. 3.08x), average yield 1.640% (prev. 1.639%)
The recent auction of JPY 1.9 trillion in 5-year JGBs saw slightly stronger demand with a bid-to-cover ratio increasing to 3.10x from 3.08x, suggesting a solid appetite amidst stable yields.
Japanese Tertiary Industry Index MoM (Dec) M/M -0.5% vs. Exp. -0.2% (Prev. -0.2%)
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Japan sells JPY 1.9tln 5yr JGBs; b/c 3.10x (prev. 3.08x), average yield 1.640% (prev. 1.639%)
US officials say they expect Iran to come to Geneva talks today with concrete concessions regarding its nuclear program, according to Axios
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- Lowest accepted price 99.79 (prev. 99.77)
- Weighted average price 99.82 (prev. 99.82)
- Tail in price 0.03 (prev. 0.05)
The marginal uptick in the average yield to 1.640% indicates that investors are still comfortable in a low-yield environment, but may be anticipating future rate movements from the BoJ. This could reflect a cautious approach to risk, impacting broader fixed income and potentially influencing liquidity in other asset classes.
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