Shutterstock 766875940 (1)

Fixed Income Commentary

Overview of FY27 budget requests, implications for JGB issuance plan

Download PDF Printable Version

Overview of FY27 budget requests, implications for JGB issuance plan      

Key points
  • General account requests for FY27 budget apparently swelled to record high of c. JPY143 trillion

  • Focus now on how far government can curb new financing bond issuance by narrowing policy measures, finding funding

  • Total JGB issuance in JPY190 trillion range in sight; more coupon-bearing JGBs needed if retail sales, TBs insufficient

I understand that any materials on this website have been produced only for persons regarded as professional investors (or equivalent) in their home jurisdiction and in jurisdictions which the MUFG entity producing the material is permitted to do so under applicable laws, rules and regulations.

I also understand that all materials on this website are not investment research or investment advice.