Key money market rate at 0.02% in Tokyo.

TOKYO, Nov. 5 Kyodo The key money market rate stayed mainly at 0.02% in Tokyo on Friday morning, down from Thursday's weighted average of 0.03%.

Brokers said fund demand remains weak as the Bank of Japan continues to maintain a generous stance by providing large liquidity in the market.

The central bank refrained from action at its regular morning operation time Friday, leaving the market with a surplus of 1 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time.

(mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed.

In the USA and Canada, 10^12. yen, unchanged for the 21st consecutive trading day In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. .

On the primary market, three-month certificates of deposit were offered at between 0.25% and 0.26%, but no deals were struck.

The yield of the benchmark June 2000 futures contract Futures Contract

An exchange traded agreement to buy or sell a particular type and grade of commodity for delivery at an agreed upon place and time in the future. Futures contracts are transferable between parties. on three-month Euroyen Euroyen

Japanese yen-denominated deposits held in banks outside Japan. Also a term that refers to yen traded in the Eurocurrency market.

Notes:
An example of Euroyen would be yen deposits held in U.S. banks. interest rates was at 0.225%, up 0.005 percentage point from Thursday.

Brokers said players bought the Euroyen rate futures earlier in the morning following a rise in Tokyo bond prices.

But early gains were soon erased e·rase
tr.v. e·rased, e·ras·ing, e·ras·es
1.
a. To remove (something written, for example) by rubbing, wiping, or scraping.

b. by heavy downward pressure on the price of the futures contract, they said.

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Publication:	Japan Weekly Monitor
Date:	Nov 8, 1999
Words:	166
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