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New 10-year government bond coupon falls to 1.4%

Friday 03rd July, 04:06 AM JST

TOKYO —

The Finance Ministry said Thursday it has set the coupon rate on the July issue of 10-year Japanese government bonds at 1.4 percent per annum, down from 1.5 percent the previous month. It is the first time in six months the rate has been lowered. The ministry says the change reflects recent declining yields in the market on concern about a slower-than-expected recovery in the global economy.
   
In a price-competitive auction, bids for the July issue of the No. 302, 10-year government bond totaled 4,339.0 billion yen, down from 5,857.3 billion yen for the June issue, the ministry said. Of the bids, the ministry accepted 1,923.0 billion yen worth, up from 1,739.2 billion yen worth in June. The new bonds will be issued next Tuesday for maturity on June 20, 2019, the ministry said.

Kyodo

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