Official Result (MOF)
| Auction Date | 1991-05-09 |
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| Issue Date | 1991-05-20 |
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| Issue | JGB (20-Year) No. 16（new） |
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| Coupon (%) | 6.8% |
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| Maturity | 2011-09-20 |
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| Method | price conventional |
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| Offering | ¥300B |
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| Competitive Bids | ¥688B |
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| Accepted Amount | ¥326.5B |
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| Lowest Accepted Price | 99.15（6.900%） |
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| Weighted Avg Price | 99.30（6.881%） |
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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 |
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| Bid/Cover | 2.11 | 1.88 | 2.02 | 1.29 | 2.94 | +0.14 |
| Tail (sen) | 15 | 34 | 43 | 16 | 118 | -0.84 |
| Non-competitive take-up | 0.0% | 0.0% | |
| Grade | B (score +0.49) | (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) | 1.9 | 4.1 |
Same-tenor Auction History