Official Result (MOF)
| Auction Date | 1987-04-07 |
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| Issue Date | 1987-04-20 |
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| Issue | JGB (4-Year) No. 23（new） |
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| Coupon (%) | 3.7% |
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| Maturity | 1991-04-22 |
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| Method | price conventional |
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| Offering | ¥280B |
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| Competitive Bids | ¥528.1B |
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| Accepted Amount | ¥281.3B |
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| Lowest Accepted Price | 99.85（3.743%） |
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| Weighted Avg Price | 99.94（3.714%） |
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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 | 1.88 | 1.86 | 2.10 | 1.12 | 4.95 | -0.23 |
| Tail (sen) | 9 | 27 | 12 | 4 | 27 | -0.48 |
| Non-competitive take-up | 0.0% | 0.0% | |
| Grade | C (score +0.13) | (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) | 2.9 | 8.1 |
Same-tenor Auction History