TOKYO (Thomson Financial) - The lowest accepted price at Tuesday's auction of 1.9 trillion yen worth of 10-year Japanese government bonds was 100.08 yen, giving a yield of 1.890 percent, the Ministry of Finance said.
Of the successful bids, 98.1 percent were made at the lowest price, the ministry said. The average
bid was 100.17 yen, giving a a yield of 1.879 percent.
The bonds carry a coupon of 1.9 percent.
Designated as the No 287 issue, the bonds will be issued on July 20 and will mature on June 20, 2017, the ministry said.
The ministry received 4.6455 trillion yen in competitive bids, of which it accepted 1.7335 trillion yen, giving a bid-to-cover ratio of 2.68 to one. This means the amount of competitive bids received was 2.68 times the amount of bonds offered for sale.
At last month's auction of 10-year debt, carrying a coupon of 1.8 percent, the lowest accepted price was 99.91 yen, giving a yield of 1.810 percent, with a bid-to-cover ratio of 3.20 to one.
(1 US dollar = 122.35 yen)
yasuhiko.seki@thomson.com
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