10-Year Japanese Government Bonds (JGB) Auction indicator reflects data on sales of 10-year government bonds. Governments issue bonds (treasuries) to borrow funds from purchasers. The yield of a government bond is the income that an investor holding the bond for its entire duration will receive.
Japanese bonds are considered to be a low-risk and high-liquid asset, since they are fully backed by the government. Japan compensates the country's debt with government bonds. Currently the debt exceeds 1000 trillion yen, which is the highest public dept in the world.
In Japan, some investors used to buy government bonds, but now there is a decrease in purchases due to financial instability. The government is thus urging the general population to buy government bonds in small lots.
Yield fluctuations provide an indication of the government debt situation and are directly related to yen interest rate. The figures displayed in the calendar represent the yield on the JGB auctioned.
JGB's have maturities of up to 50 years. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a JGB represents the return an investor will receive by holding the note for its entire duration. All bidders receive the same rate at the highest accepted bid.
Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.
The chart of the entire available history of the "10-Year Japanese Government Bond (JGB) Auction" macroeconomic indicator.
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