Official Result (MOF)
| Auction Date | 1987-11-18 |
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| Issue Date | 1987-12-21 |
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| Issue | JGB (2-Year) No. 38（new） |
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| Coupon (%) | 4.3% |
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| Maturity | 1989-12-20 |
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| Method | price conventional |
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| Offering | ¥250B |
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| Competitive Bids | ¥531B |
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| Accepted Amount | ¥266.1B |
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| Lowest Accepted Price | 99.80（4.408%） |
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| Weighted Avg Price | 99.89（4.359%） |
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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 | 2.00 | 1.36 | 1.60 | 1.08 | 3.17 | +0.69 |
| Tail (sen) | 9 | 24 | 17 | 3 | 41 | -0.73 |
| Non-competitive take-up | 0.0% | 0.0% | |
| Grade | B (score +0.71) | (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) | 4.9 | 13.5 |
Same-tenor Auction History