Official Result (MOF)
| Auction Date | 1987-12-01 |
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| Issue Date | 1987-12-21 |
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| Issue | JGB (20-Year) No. 5（new） |
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| Coupon (%) | 5.7% |
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| Maturity | 2008-03-20 |
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| Method | price conventional |
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| Offering | ¥500B |
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| Competitive Bids | ¥583.6B |
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| Accepted Amount | ¥432.9B |
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| Lowest Accepted Price | 95.55（6.195%） |
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| Weighted Avg Price | 96.57（6.077%） |
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| Allotment Ratio | — |
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| Non-competitive I | — |
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| Non-competitive II | — |
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Source: https://www.mof.go.jp/jgbs/reference/appendix/jgb_historical_data.xls
Derived Metrics calc auction-v1 / auction-v2
| This | Prev | avg (12) | min | max | z |
|---|
| Bid/Cover | 1.35 | 1.56 | 1.56 | 1.56 | 1.56 | — |
| Tail (sen) | 102 | 118 | 118 | 118 | 118 | — |
| Non-competitive take-up | 0.0% | 0.0% | |
| Grade | — | (z(B/C) − z(tail))/2 bucketed A(≥1)/B(≥0.3)/C/D(≤−0.3)/E(≤−1), vs last 12 same-tenor |
| Yield tail (bp) | 11.8 | 13.6 |
Same-tenor Auction History
| Auction Date | Issue | Bid/Cover | Tail (sen) | Avg Yield (%) |
|---|
| 1987-12-01 | JGB (20-Year) No. 5 | 1.35 | 102 | 6.077 |
| 1987-09-01 | JGB (20-Year) No. 4 | 1.56 | 118 | 5.934 |