Official Result (MOF)
| Auction Date | 1985-09-06 |
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| Issue Date | 1985-09-20 |
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| Issue | JGB (4-Year) No. 20（new） |
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| Coupon (%) | 6% |
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| Maturity | 1989-09-20 |
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| Method | price conventional |
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| Offering | ¥250B |
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| Competitive Bids | ¥222.4B |
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| Accepted Amount | ¥198.7B |
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| Lowest Accepted Price | 98.71（6.404%） |
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| Weighted Avg Price | 98.83（6.365%） |
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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 | 1.12 | 1.77 | 2.10 | 1.42 | 4.95 | -0.99 |
| Tail (sen) | 12 | 13 | 10 | 4 | 22 | +0.47 |
| Non-competitive take-up | 0.0% | 0.0% | |
| Grade | D (score -0.73) | (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) | 3.9 | 4.3 |
Same-tenor Auction History