An auction conducted by the Japanese Ministry of Finance to sell government bonds with a 40-year maturity. This ultra-long-term issuance is used to fund government debt and provides a benchmark for long-term interest rates in Japan. The results, including the average yield and the bid-to-cover ratio, reflect investor confidence in Japan's long-term fiscal health.
The auction uses a competitive bidding process where institutional investors submit bids for price and quantity. The Ministry of Finance then accepts bids starting from the highest price until the total issuance amount is covered.
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Jul 22, 2026 | 3.87 | — | — |
| May 27, 2026 | 3.84 | — | — |
| Mar 24, 2026 | 3.60 | — | — |
| Jan 28, 2026 | 3.72 | — | — |
| Nov 26, 2025 | 3.56 | — | — |
| Sep 25, 2025 | 3.30 | — | — |
| Jul 23, 2025 | 3.38 | — | — |
| May 28, 2025 | 3.13 | — | — |
| Mar 27, 2025 | 2.71 | — | — |
| Jan 21, 2025 | 2.57 | — | — |
| Nov 27, 2024 | 2.55 | — | — |
| Sep 26, 2024 | 2.34 | — | — |
| Jul 24, 2024 | 2.42 | — | — |
| May 22, 2024 | 2.27 | — | — |
| Mar 27, 2024 | 1.91 | — | — |
| Jan 25, 2024 | 1.93 | — | — |
| Nov 28, 2023 | 1.81 | — | — |
| Sep 26, 2023 | 1.73 | — | — |
