Japanese government to cut the amount of bonds it auctions
Reuters was out with a story earlier that Japan is going to auction around ¥147tn in bonds next fiscal year. That's down from this year's ¥152.6tn. The drop in borrowing is due to rising tax revenues, says sources and would make it the third FY that they've cut debt through auctions
New borrowing is down to an 8 year low of 34.43tn vs 36.9tn initially planned this FY
Overall it would cut total JGB issuance by 7.8tn to 162.2tn
The reductions come as a mix and match of maturities. They will be increasing issuance of 40yr bonds by 400bn while reducing 20's and 5's by 1.2tn each, and 2's by 2.4tn
What they are also going to do help lessen any potential shortages to investors, from the BOJ hovering, is to bring forward sales from beyond the next FY
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