Japan's MOF sells Y2.284 trillion of 0.2% 5-year bonds with the lowest price of 99.97, which was slightly higher than market expectations for 99.96, yielding 0.206%. The bid-to-cover ratio was at 3.19, compared with 3.28 at the previous 5-year tender in August, while the tail is a tad longer at 0.01 vs 0.00. The results show the continued popularity of medium-term JGBs amid strong support provided by the BOJ's asset-purchase program, as well as the cloudy outlook on the global economy.
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