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 19y） |
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| Outstanding | ¥2.5T （2026-03-31・MOF） |
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| SLF usage | last 30d ¥5B／ total ¥48B（last 2026-09-10・BOJ） |
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| BOJ Holding | ¥21.2B（0.8%）（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 | 2.700 % |
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| Compound Yield | 2.6974 % |
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| Accrued Interest | 1.309315 (177 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 14.62 |
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| Macaulay Duration | 14.82 |
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| DV01 | — |
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| Convexity | 258.5 |
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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 2026-09-13 ・ CMT 2026-09-10
| CMT interpolated (rem 19.0y) | 3.697 % → ref. price 86.426 |
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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 | 3.182 | 93.190 | -0.688 | +6.92% | +27.70% |
| -25bp | 3.432 | 89.893 | -0.688 | +3.17% | +12.67% |
| Unchanged (roll-down) | 3.682 | 86.737 | -0.688 | -0.43% | -1.72% |
| +25bp | 3.932 | 83.713 | -0.688 | -3.88% | -15.50% |
| +50bp | 4.182 | 80.817 | -0.688 | -7.18% | -28.71% |
| 6m 2027-03-13 | -50bp | 3.168 | 93.449 | 1.328 | +9.52% | +19.04% |
| -25bp | 3.418 | 90.174 | 1.328 | +5.79% | +11.57% |
| Unchanged (roll-down) | 3.668 | 87.037 | 1.328 | +2.21% | +4.42% |
| +25bp | 3.918 | 84.030 | 1.328 | -1.22% | -2.44% |
| +50bp | 4.168 | 81.149 | 1.328 | -4.50% | -9.00% |
| 12m 2027-09-13 | -50bp | 3.139 | 93.955 | 2.700 | +11.66% | +11.66% |
| -25bp | 3.389 | 90.726 | 2.700 | +7.98% | +7.98% |
| Unchanged (roll-down) | 3.639 | 87.629 | 2.700 | +4.45% | +4.45% |
| +25bp | 3.889 | 84.658 | 2.700 | +1.06% | +1.06% |
| +50bp | 4.139 | 81.808 | 2.700 | -2.19% | -2.19% |