Official Result (MOF)
| Auction Date | 1988-06-01 |
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| Issue Date | 1988-06-20 |
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| Issue | JGB (2-Year) No. 40（new） |
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| Coupon (%) | 3.8% |
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| Maturity | 1990-06-20 |
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| Method | price conventional |
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| Offering | ¥200B |
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| Competitive Bids | ¥490.7B |
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| Accepted Amount | ¥207.2B |
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| Lowest Accepted Price | 99.92（3.843%） |
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| Weighted Avg Price | 99.98（3.809%） |
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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 | 2.37 | 5.08 | 1.96 | 1.08 | 5.08 | +0.38 |
| Tail (sen) | 6 | 8 | 17 | 3 | 41 | -0.96 |
| Non-competitive take-up | 0.0% | 0.0% | |
| Grade | B (score +0.67) | (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) | 3.4 | 4.5 |
Same-tenor Auction History