Official Result (MOF)
| Auction Date | 2026-10-20 |
|---|
| Issue Date | 2026-10-21 |
|---|
| Issue | JGB (20-Year) No. 198（new） |
|---|
| Coupon (%) | 3.8% |
|---|
| Maturity | 2046-09-20 |
|---|
| Method | price conventional |
|---|
| Offering | ¥700B |
|---|
| Competitive Bids | ¥3.1T |
|---|
| Accepted Amount | ¥537.1B |
|---|
| Lowest Accepted Price | 100.80（3.729%） |
|---|
| Weighted Avg Price | 100.87（3.723%） |
|---|
| Allotment Ratio | 79.7613% |
|---|
| Non-competitive I | ¥162.8B |
|---|
| Non-competitive II | — |
|---|
Source: https://www.mof.go.jp/jgbs/auction/calendar/nyusatsu/resul20261020.htm
Offering Terms (from MOF notice) documents →
| Official name | 利付国庫債券（20年）（第198回） |
|---|
| Legal basis | 特別会計に関する法律（平成19年法律第23号）第46条第1項及び第47条第1項 |
|---|
| Coupon dates | 毎年3月20日及び9月20日 |
|---|
| Planned amount | ¥700B |
|---|
| Bid deadline | 2026-10-20 11:50 |
|---|
| Payment date | 2026-10-21 |
|---|
| Non-competitive II | held |
|---|
| Price terms | — |
|---|
Derived Metrics
| This | Prev | avg (12) | min | max | z |
|---|
| Bid/Cover | 5.84 | 4.01 | 3.73 | 2.97 | 4.82 | +3.69 |
| Tail (sen) | 7 | 15 | 13 | 0 | 31 | -0.60 |
| Non-competitive take-up | 23.3% | 23.9% | |
| Grade | A (score +2.15) | (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) | 0.6 | 1.3 |
Same-tenor Auction History