The Japanese Ministry of Finance successfully concluded its auction for 10-Year Japanese Government Bonds, Issue Number 383, on July 2, 2026. The issuance, which is scheduled to mature on June 20, 2036, officially dates to July 3, 2026. This particular tranche carries a nominal coupon rate of 2.7%. During the bidding process, the bonds were sold at a slight discount to their face value. The weighted average price finalized at 99.77 per 100 yen face value, translating to an effective yield of 2.729%. Furthermore, the lowest accepted price was 99.57 per 100 yen, which yielded 2.755%. Bidders who placed orders exactly at this marginal lowest accepted price received a prorated allotment of 91.4461%. Because the accepted prices fell below par, investors locking in these rates will secure an effective yield that slightly exceeds the bond's stated coupon.
Demand and Market Participation
- Competitive Bids Tendered: Investors tendered a total of 6,144.8 billion yen during the competitive phase.
- Competitive Bids Accepted: The Ministry accepted 1,963.1 billion yen of those competitive bids.
- Non-competitive Bids: A total of 1.424 billion yen was tendered and fully accepted under standard non-competitive bids.
- Non-price-competitive Auction I:An amount of 635.3 billion yen was accepted specifically for JGB Market Special Participants.
- Non-price-competitive Auction II: There were no accepted bids recorded for JGB Market Special Participants in this secondary non-price-competitive auction.