BOJ: Fixed Rate Operation Offer
The BoJ offers to buy an unlimited amount of 10-Year JGBs at a fixed rate of 0.25%.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
BOJ: Fixed Rate Operation Offer
The BoJ offers to buy an unlimited amount of 10-Year JGBs at a fixed rate of 0.25%.
AUSSIE BONDS: The AOFM sells A$150mn of the 0.25% 21 Nov ‘32 I/L Bond, issue #CAIN416:
The Australian Office of Financial Management (AOFM) sells A$150mn of the 0.25% 21 November 2032 I/L Bond, issue #CAIN416:
- Average Yield: 0.8732% (prev. -0.2759%)
- High Yield: 0.8875% (prev. -0.2675%)
- Bid/Cover: 2.4400x (prev. 4.0067x)
- Amount allotted at highest accepted yield as percentage of amount bid at that yield 50.0% (prev. 60.0%)
- Bidders 28 (prev. 46), successful 14 (prev. 18), allocated in full 10 (prev. 16)
US TSYS: J.P.Morgan Look For 2-Year Supply To Be Digested With Relative Ease
J.P.Morgan note that Tuesday will see “Treasury auction $47bn 2-Year notes, $1bn smaller in size than last month. The WI 2-Year roll opened at +5bp, slightly above our fair value estimate, and has since declined to 3.874bp, roughly in line with the erosion of carry. 2-Year yields are only 2bp higher since the April auction and OIS forwards continue to imply roughly 50bp of tightening at each of the next two Fed meetings, as well as a terminal rate near 3.10%, in line with our own forecast. Despite small moves since the April auction, we think the current level of yields should continue to attract buyers, particularly from the investment manager community, allowing tomorrow’s auction to be digested with relative ease.”
