bonds / 20Y / JGB (20-Year) No. 128
Bond Information
| Name | JGB (20-Year) No. 128 |
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| ISIN | — |
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| Issue # | 128 |
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| Coupon (%) | 1.9% semi-annual |
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| Issue Date | 2011-06-20 |
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| Maturity | 2031-06-20 （Remaining 4.8y） |
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| Outstanding | ¥2.8T （2026-03-31・MOF） |
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| Total issued | ¥2.7T （annual report, FY-end） |
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| Statutory basis | 4条借換前倒 |
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| STRIPS principal | ¥400M （2026-06-30） |
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| SLF usage | last 30d ¥3.1B／ total ¥139.6B（last 2026-08-17・BOJ） |
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| BOJ Holding | ¥1.7T（60.8%）（as of 2026-08-31・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 | 1.900 % |
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| Compound Yield | 1.8986 % |
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| Accrued Interest | 0.442466 (85 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 4.52 |
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| Macaulay Duration | 4.56 |
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| DV01 | — |
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| Convexity | 23.3 |
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Estimates based on the input price.
Cashflow Schedule
| Date | Type | Amount (per 100) |
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| 2026-12-20 | coupon | 0.950 |
| 2027-06-20 | coupon | 0.950 |
| 2027-12-20 | coupon | 0.950 |
| …（5 omitted）… |
| 2030-12-20 | coupon | 0.950 |
| 2031-06-20 | coupon + redemption | 100.950 |
Related Auctions
Horizon total return settle 2026-09-13 ・ CMT 2026-09-10
| CMT interpolated (rem 4.8y) | 2.216 % → ref. price 98.571 |
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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 2026-12-13 | -50bp | 1.686 | 100.922 | 0.474 | +2.85% | +11.41% |
| -25bp | 1.936 | 99.839 | 0.474 | +1.76% | +7.04% |
| Unchanged (roll-down) | 2.186 | 98.770 | 0.474 | +0.68% | +2.72% |
| +25bp | 2.436 | 97.713 | 0.474 | -0.39% | -1.55% |
| +50bp | 2.686 | 96.669 | 0.474 | -1.44% | -5.77% |
| 6m 2027-03-13 | -50bp | 1.656 | 100.997 | 0.940 | +3.40% | +6.80% |
| -25bp | 1.906 | 99.970 | 0.940 | +2.36% | +4.72% |
| Unchanged (roll-down) | 2.156 | 98.954 | 0.940 | +1.34% | +2.67% |
| +25bp | 2.406 | 97.951 | 0.940 | +0.32% | +0.65% |
| +50bp | 2.656 | 96.958 | 0.940 | -0.68% | -1.36% |
| 12m 2027-09-13 | -50bp | 1.584 | 101.144 | 1.900 | +4.52% | +4.52% |
| -25bp | 1.834 | 100.231 | 1.900 | +3.60% | +3.60% |
| Unchanged (roll-down) | 2.084 | 99.328 | 1.900 | +2.68% | +2.68% |
| +25bp | 2.334 | 98.434 | 1.900 | +1.78% | +1.78% |
| +50bp | 2.584 | 97.550 | 1.900 | +0.89% | +0.89% |