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Friday May 12, 11:47 AMJapan 3-month FB auction highest yield 0.213 pctTOKYO, May 12 (Reuters) - An auction of three-month financing bills (FBs) on Friday produced a stop rate of 0.213 percent, the Ministry of Finance said, the highest since February 2001.Money market rates have been rising sharply this week on speculation the Bank of Japan could raise interest rates as early as June, earlier than the July-September period previously thought. The stop rate at an auction of three-month FBs on Feb. 28, 2001 was 0.214 percent. The BOJ introduced a super-easy monetary policy in March 2001. The lowest accepted price was 99.9475, with 76.4390 percent of the bids accepted at that price. The total amount on offer was 4.423 trillion yen ($40.12 billion). Primary dealers could also purchase up to 10 percent of the offer in a non-competitive auction. Details were as follows: Lowest price 99.9475 Stop rate 0.2130 pct Average price 99.9500 Average yield 0.2028 pct Total bids 15.4990 trillion yen Accepted Bids 4.15566 trillion yen Bids accepted at lowest price 76.4390 pct Bids accepted in non-competitive auction 267.3 billion yen Issue date May 17 Maturity Aug 14 |
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