bonds / 20Y / JGB (20-Year) No. 194
Bond Information
| Name | JGB (20-Year) No. 194 |
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| ISIN | — |
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| Issue # | 194 |
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| Coupon (%) | 2.7% semi-annual |
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| Issue Date | 2025-10-16 |
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| Maturity | 2045-09-20 （Remaining 19.1y） |
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| Outstanding | ¥2.5T （2026-03-31・MOF） |
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| SLF usage | last 30d —／ total ¥43B（last 2026-07-21・BOJ） |
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| BOJ Holding | ¥21.2B（0.8%）（as of 2026-08-10・Source: BOJ・Ratios approximate due to differing as-of dates） |
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| Status | active |
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Results
Yield Calculator (price input) | Simple Yield | 2.700 % |
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| Compound Yield | 2.6974 % |
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| Accrued Interest | 1.153973 (156 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 14.68 |
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| Macaulay Duration | 14.87 |
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| DV01 | — |
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| Convexity | 260.2 |
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Estimates based on the input price.
Cashflow Schedule
| Date | Type | Amount (per 100) |
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| 2026-09-20 | coupon | 1.350 |
| 2027-03-20 | coupon | 1.350 |
| 2027-09-20 | coupon | 1.350 |
| …（34 omitted）… |
| 2045-03-20 | coupon | 1.350 |
| 2045-09-20 | coupon + redemption | 101.350 |
Related Auctions
Horizon total return settle 2026-08-23 ・ CMT 2026-08-20
| CMT interpolated (rem 19.1y) | 3.662 % → ref. price 86.836 |
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| G-spread (vs interpolated CMT) | — |
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| Horizon | Scenario | Yield@H | Price@H | Carry | Total return | Ann. |
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| 3m 2026-11-23 | -50bp | 3.146 | 93.667 | -0.681 | +6.99% | +27.96% |
| -25bp | 3.396 | 90.343 | -0.681 | +3.21% | +12.85% |
| Unchanged (roll-down) | 3.646 | 87.161 | -0.681 | -0.40% | -1.62% |
| +25bp | 3.896 | 84.113 | -0.681 | -3.87% | -15.47% |
| +50bp | 4.146 | 81.194 | -0.681 | -7.19% | -28.74% |
| 6m 2027-02-23 | -50bp | 3.131 | 93.940 | 1.350 | +9.61% | +19.22% |
| -25bp | 3.381 | 90.638 | 1.350 | +5.86% | +11.71% |
| Unchanged (roll-down) | 3.631 | 87.475 | 1.350 | +2.26% | +4.52% |
| +25bp | 3.881 | 84.444 | 1.350 | -1.18% | -2.37% |
| +50bp | 4.131 | 81.540 | 1.350 | -4.48% | -8.97% |
| 12m 2027-08-23 | -50bp | 3.100 | 94.457 | 2.700 | +11.73% | +11.73% |
| -25bp | 3.350 | 91.199 | 2.700 | +8.03% | +8.03% |
| Unchanged (roll-down) | 3.600 | 88.075 | 2.700 | +4.48% | +4.48% |
| +25bp | 3.850 | 85.079 | 2.700 | +1.07% | +1.07% |
| +50bp | 4.100 | 82.205 | 2.700 | -2.19% | -2.19% |