The auctionable portion of 10-year government bonds will soon be raised to some 75 percent from the current 60 percent in order to effect greater transparency in the bond market, Finance Ministry officials said Monday.
The ministry has placed 40 percent of its 1.7 trillion yen monthly offering of 10-year government bonds to the underwriters syndicate and 60 percent to the auction. In today's auction for 10-year state bonds to be issued in April, the auctionable portion will be upped to 62 percent and the ratio will be raised further in April and beyond.