JGB 5-yr auction draws record demand on policy expectations
TOKYO Oct 16 (Reuters) - The Japanese Ministry of Finance's auction of five-year Japanese government bonds attracted record demand on Tuesday on investor expectations for further Bank of Japan monetary easing.
The sale drew bids of 5.51 times the amount offered, the highest ratio since the maturity was introduced in February 2000.
The auction's tail between the average and lowest accepted prices fell to zero from 0.01 at last month's offering, indicating strong demand.
In cash bond trading, the 5-year JGB yield was flat at 0.195 percent.