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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Knighty Tin who wrote (243569)	6/3/2003 12:48:33 AM
From: ild	Read Replies (1) of 436258

Japan's 10-Yr Bond Sale Draws Less Bids Than Previous Auction June 3 (Bloomberg) -- Japan's 1.9 trillion yen ($16 billion) 10-year debt sale drew less bids than the previous auction after the yield on outstanding bonds fell to less than half a percentage point for the first time. The Ministry of Finance's sale of bonds drew bids worth 3.16 times the amount of debt sold by competitive auction, less than the 3.45 times of the previous sale. The No. 249 bond, which carries a 0.6 percent coupon and matures in 2013, rose earlier today, pushing its yield as low as 0.495 percent. ``The market needs a little bit of time to breathe,'' said Jai Tiwari, a fixed-income analyst at IDEAglobal Ltd. in Singapore. The government sold 10-year bonds with a 0.5 percent coupon, the lowest on record. The amount of bonds sold was the same as in the previous auction. The average sale price at the auction was 100.28 and the average yield was 0.47 percent. Last Updated: June 3, 2003 00:14 EDT quote.bloomberg.com

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