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日本40年期国债拍卖遇冷 创去年7月以来最弱需求
Zhi Tong Cai Jing·2025-05-28 06:41

Group 1 - The auction of Japan's 40-year bonds faced the weakest market demand since July 2024, potentially increasing volatility risks in the global bond market [1] - The yield on the 40-year bonds remained stable before the auction, while the yield on 30-year bonds surged by 11 basis points, indicating a divergence in market reactions [1] - The auction's bid-to-cover ratio was 2.21, significantly lower than the 2.92 recorded in the March auction, reflecting weak demand from institutional investors [1] Group 2 - The Japanese Ministry of Finance issued a rare survey to market participants regarding its bond issuance plans and current market conditions, indicating unusual timing and scope [2] - The upcoming Bank of Japan policy meeting on June 16-17 is expected to be a critical turning point, with discussions on further adjustments to bond purchase reductions anticipated [2] - The Ministry of Finance is expected to consider feedback from market participants to shape its future bond issuance strategy [2]