Official Result (MOF)
| Auction Date | 1996-03-28 |
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| Issue Date | 1996-04-22 |
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| Issue | JGB (2-Year) No. 123（new） |
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| Coupon (%) | 1.1% |
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| Maturity | 1998-04-20 |
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| Method | price conventional |
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| Offering | ¥120B |
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| Competitive Bids | ¥276.9B |
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| Accepted Amount | ¥119.9B |
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| Lowest Accepted Price | 99.88（1.161%） |
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| Weighted Avg Price | 99.95（1.121%） |
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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 | 2.31 | 2.37 | 2.83 | 1.82 | 4.75 | -0.56 |
| Tail (sen) | 7 | 9 | 5 | 1 | 9 | +0.94 |
| Non-competitive take-up | 0.0% | 0.0% | |
| Grade | D (score -0.75) | (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) | 4.0 | 5.1 |
Same-tenor Auction History