Vi e w p o i n t | 21 Jul 2026 00:47:12 ET │ 11 pages Japan Auction Monitor 40y—auction method a risk CITI'S TAKE With steady demand and ongoing set-up into this auction we expect smooth digestion. The Dutch auction method can lead to extreme volatility. Tomohisa Fujiki AC n +81-3-6776-4684 tomohisa.fujiki@citi.com See Appendix A-1 for Analyst Certification, Important Disclosures and Research Analyst Affiliations. Japan Auction Monitor 21 July 2026 Citi Research There will be an auction of JU19 on July 22. ...