Japan sells JPY 2.8tln 2-year JGBs: Average yield 1.407%, b/c 5.24x, price tail 0bps
The successful sale of JPY 2.8 trillion in 2-year JGBs at an average yield of 1.407% indicates solid demand, as reflected in the strong bid-to-cover ratio of 5.24x.
Morgan Stanley expects the Fed to leave rates unchanged in 2026 (prev. forecasted cuts in Sep and Dec), expects 25bps of rate cuts each in Jan'27 and Mar'27
[MARKET ANALYSIS] Asia-Pac equities mixed, US equities pare back upside following AMZN/MSFT guidance
Japan sells JPY 2.8tln 2-year JGBs: Average yield 1.407%, b/c 5.24x, price tail 0bps
PRE-MARKET INDIAN STOCK NEWS: Earnings from Adani Power, Indegene, Bajaj Finance
Iran's delegation to the UN says its enriched uranium is under the full supervision of the IAEA
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The absence of a price tail suggests that investors were comfortable with the offered yield and conditions, reinforcing the stability in Japanese fixed income despite the broader interest rate landscape. This outcome could influence market perceptions of Japan's monetary policy and the attractiveness of its debt relative to peers.
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