bonds / 40Y / JGB (40-Year) No. 18
Bond Information
| Name | JGB (40-Year) No. 18 |
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| ISIN | — |
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| Issue # | 18 |
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| Coupon (%) | 3.1% semi-annual |
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| Issue Date | 2025-05-29 |
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| Maturity | 2065-03-20 （Remaining 38.5y） |
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| Outstanding | ¥2.7T （2026-03-31・MOF） |
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| STRIPS principal | ¥300M （2026-06-30） |
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| SLF usage | last 30d —／ total ¥108.6B（last 2026-06-18・BOJ） |
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| BOJ Holding | ¥146.8B（5.4%）（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 | 3.100 % |
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| Compound Yield | 3.0976 % |
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| Accrued Interest | 1.503288 (177 days) per 100 |
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| Settlement Amount | — |
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| Modified Duration | 22.08 |
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| Macaulay Duration | 22.42 |
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| DV01 | — |
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| Convexity | 687.2 |
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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 | 1.550 |
| 2027-03-20 | coupon | 1.550 |
| 2027-09-20 | coupon | 1.550 |
| …（73 omitted）… |
| 2064-09-20 | coupon | 1.550 |
| 2065-03-20 | coupon + redemption | 101.550 |
Related Auctions
Horizon total return settle 2026-09-13 ・ CMT 2026-09-10
| CMT interpolated (rem 38.5y) | 4.002 % → ref. price 82.309 |
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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 | 3.502 | 91.524 | -0.790 | +10.05% | +40.21% |
| -25bp | 3.752 | 86.774 | -0.790 | +4.39% | +17.54% |
| Unchanged (roll-down) | 4.002 | 82.370 | -0.790 | -0.87% | -3.48% |
| +25bp | 4.252 | 78.283 | -0.790 | -5.75% | -22.98% |
| +50bp | 4.502 | 74.488 | -0.790 | -10.27% | -41.10% |
| 6m 2027-03-13 | -50bp | 3.501 | 91.556 | 1.525 | +12.85% | +25.70% |
| -25bp | 3.751 | 86.819 | 1.525 | +7.20% | +14.40% |
| Unchanged (roll-down) | 4.001 | 82.425 | 1.525 | +1.96% | +3.91% |
| +25bp | 4.251 | 78.346 | 1.525 | -2.91% | -5.82% |
| +50bp | 4.501 | 74.556 | 1.525 | -7.43% | -14.86% |
| 12m 2027-09-13 | -50bp | 3.501 | 91.604 | 3.100 | +14.79% | +14.79% |
| -25bp | 3.751 | 86.892 | 3.100 | +9.17% | +9.17% |
| Unchanged (roll-down) | 4.001 | 82.519 | 3.100 | +3.95% | +3.95% |
| +25bp | 4.251 | 78.455 | 3.100 | -0.90% | -0.90% |
| +50bp | 4.501 | 74.678 | 3.100 | -5.41% | -5.41% |