Government bond auction · Japan
Japan 10-Year Index-Linked JGB Auction
The Japan 10-Year Index-Linked JGB Auction is a sale of new government debt by Japan's treasury or debt agency to investors.
- Importance
- Low
- Released
- Quarterly
- Next release
- Currency
- JPY · Japanese yen
- Central bank
- The Bank of Japan
Latest figures
The latest release, published on 12 August 2026, came in at 0.860%, up from 0.578% the time before.
Over the last 7 releases it ranged from -0.269% to 0.860%, averaging 0.260%; it has been rising for three releases in a row.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 12 Aug 2026 | – | 0.860% | – | 0.578% |
| 1 May 2026 | – | 0.578% | – | 0.458% |
| 10 Feb 2026 | – | 0.458% | – | 0.113% |
| 17 Nov 2025 | – | 0.113% | – | 0.078% |
| 15 Aug 2025 | – | 0.078% | – | 0.000% |
| 22 May 2025 | – | 0.000% | – | -0.269% |
| 12 Feb 2025 | – | -0.269% | – | -0.362% |
Why it matters
Auctions show the demand for a country's debt. A weak auction (low cover ratio, a yield above where the bond traded before the sale, the "tail") can push yields up across the market; a strong one calms them. In times of fiscal stress auctions get close attention.
How it is calculated
Bidders submit the yield (or price) at which they will buy; the debt office allocates from the lowest yield up until the amount is sold. The release reports the average or highest yield and the bid-to-cover ratio.
Bid-to-cover = amount bid ÷ amount soldWhat changes mean
- Bid-to-cover above its recent average and no tail: solid demand.
- Index-linked and green bonds are smaller auctions with their own investor base.
A short history
Most governments moved from fixed-price syndicates to regular auctions in the 1970s–1990s; the US Treasury has auctioned bills since 1929.
Questions
What is the Japan 10-Year Index-Linked JGB Auction?
The Japan 10-Year Index-Linked JGB Auction is a sale of new government debt by Japan's treasury or debt agency to investors.
What was the latest Japan 10-Year Index-Linked JGB Auction?
0.860%, published on 12 August 2026.
When is the next Japan 10-Year Index-Linked JGB Auction?
On Monday 16 November 2026 at 03:35 UTC.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.