Insights

Each issue covers a completed period in the Japanese yen money market: how the term structure moved, which spreads did the work, how stable fixings were against their own history, and what that suggests. Every figure is our own calculation, and the method behind it is stated in the issue.

Recent issues are available to subscribers. Each issue opens to everyone 6 months after publication, unchanged from its subscriber form.

The first issue is in preparation.

What these issues are, and are not

The measurements in each issue - changes, spreads, volatility, distributional position - are our own calculations, derived from information published by the JBA TIBOR Administration and the Bank of Japan. They are not official figures and not benchmark values. We do not publish TIBOR or TONA fixing levels.

JBA TIBOR is officially announced by the information providers JBATA has authorized: Refinitiv Japan, QUICK, Jiji Press, Bloomberg, and Nomura Research Institute.