Demand for 20-year Japanese government bond auction remains strong; Japanese government bonds rise slightly in the afternoon.
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Golden Ten Data reported on March 17 that during the Tokyo midday session, most Japanese government bond prices edged higher, following robust demand in the Ministry of Finance’s 20-year bond auction. The bid-to-cover ratio, which measures demand for bond auctions, was 3.25 times, higher than the 3.08 times seen in the February 20-year government bond auction. Another indicator showing strong demand was the tail price spread (the difference between the average winning price and the lowest winning price) for this auction, which was 0.06 yen, smaller than the 0.14 yen seen in the previous 20-year government bond auction.
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