Official Result (MOF)
| Auction Date | 1991-11-12 |
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| Issue Date | 1991-11-25 |
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| Issue | JGB (20-Year) No. 18（new） |
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| Coupon (%) | 6.3% |
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| Maturity | 2012-03-20 |
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| Method | price conventional |
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| Offering | ¥300B |
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| Competitive Bids | ¥1.1T |
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| Accepted Amount | ¥298.4B |
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| Lowest Accepted Price | 99.80（6.322%） |
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| Weighted Avg Price | 99.88（6.312%） |
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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 | 3.58 | 1.62 | 2.09 | 1.29 | 2.94 | +2.72 |
| Tail (sen) | 8 | 24 | 28 | 15 | 58 | -1.40 |
| Non-competitive take-up | 0.0% | 0.0% | |
| Grade | A (score +2.06) | (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) | 1.0 | 2.9 |
Same-tenor Auction History