Japan's MOF sells Y2.114 trillion worth of 0.8% 10-year bonds with a lowest price of 100.28, in line with market expectations, yielding 0.769%. The bid-to-cover ratio improves to 3.40 from 2.84 at the previous tender in September, while the tail is at 0.02 vs 0.01. Since tender demand was mainly supported by short-covering, the auction results are unlikely to boost the secondary market, says Citigroup Global Markets Japan senior strategist Maki Shimizu.
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