Japan’s Ministry of Finance announced on Friday (Tokyo time) a liquidity enhancement auction for November 20, reopening off the run issues across five sectors: 2 year issues 478 to 490, 5 year issues 155 to 187, 10 year issues 349 to 364, 20 year issues 99 to 131 and 30 year issues 1 to 5. The same day the ministry will auction about 3,100 billion yen of treasury discount bills, to be issued on November 24 and to mature on March 1, 2027; the ministry notes the offering amount may be changed, with any revision announced the day before the auction.
Japan sets November 20 liquidity auction and bill sale
Japan's Ministry of Finance will hold a liquidity enhancement auction on November 20 across off the run 2, 5, 10, 20 and 30 year JGB issues, and will auction about 3,100 billion yen of treasury discount bills the same day, maturing March 1, 2027.
Why it matters: The two operations are routine calendar items, but the liquidity auction's breadth across the whole curve, five maturity sectors in one operation, is the ministry's standing tool for keeping off the run JGB lines tradable while the Bank of Japan normalises.
Data as of Ministry of Finance announcements of November 13, 2026 (Tokyo time), read in full on the ministry site. The liquidity announcement lists eligible issues and states no offering amount; the bill offering amount is stated by the ministry as about 3,100 billion yen and may be changed, with any revision announced the day before the auction. Developing item.
Sources
- Announcement of Liquidity Enhancement Auction on November 20, 2026 - Japan Ministry of Finance - 2026-11-13
- Treasury Discount Bills to Be Auctioned on November 20, 2026 - Japan Ministry of Finance - 2026-11-13