Official Result (MOF)
| Auction Date | 1989-05-11 |
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| Issue Date | 1989-05-25 |
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| Issue | JGB (20-Year) No. 11（new） |
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| Coupon (%) | 5% |
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| Maturity | 2009-09-21 |
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| Method | price conventional |
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| Offering | ¥400B |
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| Competitive Bids | ¥525.1B |
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| Accepted Amount | ¥407.3B |
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| Lowest Accepted Price | 97.90（5.212%） |
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| Weighted Avg Price | 98.29（5.171%） |
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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 | 1.29 | 2.24 | 2.08 | 1.35 | 2.79 | -1.32 |
| Tail (sen) | 39 | 16 | 50 | 16 | 118 | -0.27 |
| Non-competitive take-up | 0.0% | 0.0% | |
| Grade | D (score -0.52) | (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) | 4.1 | 1.7 |
Same-tenor Auction History
| Auction Date | Issue | Bid/Cover | Tail (sen) | Avg Yield (%) |
|---|
| 1989-05-11 | JGB (20-Year) No. 11 | 1.29 | 39 | 5.171 |
| 1989-02-01 | JGB (20-Year) No. 10 | 2.24 | 16 | 5.028 |
| 1988-11-01 | JGB (20-Year) No. 9 | 2.55 | 18 | 5.056 |
| 1988-07-21 | JGB (20-Year) No. 8 | 1.35 | 58 | 5.437 |
| 1988-04-19 | JGB (20-Year) No. 7 | 2.76 | 20 | 4.993 |
| 1988-02-18 | JGB (20-Year) No. 6 | 2.79 | 18 | 5.296 |
| 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 |