Kyoto University is one of three finalists among the 10 schools that applied for subsidies from Japan's new university endowment fund. (Photo by Kosaku Mimura)
Education

Japan's $70bn university fund finishes first year $420m in the red

Endowment's lofty investment target could make stable returns difficult

8 July 2023
The depreciation of the yen against the dollar makes a revision to monetary easing policy more likely, analysts say.
Bank of Japan

Speculation grows of BOJ change to yield curve control policy

Japanese officials express concern about yen's slide

27 June 2023
The New York State Supreme Court courthouse in New York City. More than half the world's privately held sovereign debt comes under New York state law jurisdiction.
Markets

New York bill would rewrite rules for sovereign debt restructurings

Proponents say bill will help developing countries, but critics say China will benefit

7 June 2023
Kubota's finance arm offers loans to buyers of its equipment in North America. (Photo courtesy of Kubota)
Bonds

Kubota issues first dollar bonds in 31 years as U.S. business grows

Japan machinery maker diversifies funding with eye on financial risks

7 June 2023
Container shipping rates have dropped with consumption.
Economy

Trio of critical signs point to global economic slowdown

Downturn in copper prices, weak shipping rates and historic yield inversion raise red flags

31 May 2023
Mitsubishi UFJ Financial Group delayed issuing fresh AT1 bonds following the collapse of Credit Suisse. (Photo by Yo Inoue)
Bonds

Japan's MUFG to float $2bn in AT1 bonds

Megabank responds to investor demand for controversial debt instrument

26 May 2023
A launch ceremony for Swap Connect was held May 15 in Hong Kong. (Photo by Kensaku Ihara)
Finance

China debuts Swap Connect program for onshore bond hedging

Foreign access via Hong Kong aims to curb outflows and boost market liquidity

16 May 2023
Akiko Osawa, a managing executive officer at Nippon Life Insurance, said investing in Treasurys has "no appeal" after accounting for currency hedging costs. (Photo by Kosuke Iguchi)
Interview

Fewer Treasurys, more JGBs in the cards for Japan life insurers

Nippon Life, Dai-ichi Life executives discuss possible rate shifts and stronger yen

10 May 2023
A Rakuten Mobile shop in Tokyo. (Photo by Masaharu Tsutsumi)
Telecommunication

Rakuten faces $8.7bn bond redemptions, awaits 'platinum' mobile bands

Japan conglomerate sees refinancing costs rise as credit rating falls

1 May 2023
Nippon Life Insurance is starting the fiscal year off slow with its JGB purchases, planning to pick up the pace when yields look more appealing.
Bonds

Japan life insurers to raise JGB holdings with eye on BOJ policy

Nine insurers plan increase of $15bn in anticipation of higher rates

29 April 2023
Sumitomo Life Insurance CEO Yukinori Takada. (Photo by Hiroshi Endo)
Currencies

Currency hedging costs in bonds to stay high: Sumitomo Life CEO

Insurer sees no narrowing of Japan-U.S. interest rate gap this year

20 April 2023
The value of the bonds issued by Credit Suisse was completely wiped out as part of a deal to have UBS to take over its operations.
Bonds

Japan brokerages sold over $740m in Credit Suisse AT1 bonds

MUFG apparently unloaded vast majority of troubled debt

20 April 2023
Sumitomo Mitsui Financial Group is set to issue AT1 bonds worth 140 billion yen ($1 billion).
Bonds

Japan's SMFG to issue $1bn in AT1 bonds

Financial group first to test investor appetite since Credit Suisse rescue

18 April 2023
The bonds sold by Mitsubishi UFJ Morgan Stanley account for about 4% of Credit Suisse's total issuance of AT1 bonds. (Photo by June Watanabe)
Bonds

MUFG clients hit with $700m in losses on Credit Suisse AT1 bonds

Wealthy Japanese customers' investments wiped out in Swiss bank rescue

14 April 2023
The Bank of Japan could move to end its negative interest rate policy next fiscal year if the conditions are right, a Mitsubishi UFJ Financial Group exec says.
Interview

BOJ may end yield curve control by September: MUFG markets chief

Central bank could lift negative rate policy next fiscal year, says Hiroyuki Seki

12 April 2023
Kazuo Ueda spoke to reporters as Bank of Japan governor for the first time on April 10. (Photo by Uichiro Kasai)
Bank of Japan

Marathon, not sprint: 4 takeaways from new BOJ head's briefing

Ueda steps back from talk of policy tweaks amid banking turmoil

11 April 2023
Then-Prime Minister Shinzo Abe, right, trusted Haruhiko Kuroda to steer monetary policy even amid setbacks. (Photo by Masaru Shioyama)
Bank of Japan

Kuroda's exit means BOJ's honeymoon with government is truly over

New central bank chief Ueda faces reckoning on decade of extreme monetary easing

8 April 2023
PBOC Gov. Yi Gang is projecting a reassuring image of stable, technocratically determined monetary policy. 
Opinion

China's central bank is now rock of stability in a turbulent world

Yuan, China's government bonds and its bank stocks emerge as safe havens

4 April 2023
The Japanese megabank had planned to bolster core capital with the issue.
Bonds

MUFG delays AT1 bond issuance on post-Credit Suisse concerns

Investor demand in flux after Swiss bank's bonds were wiped out in takeover by UBS

4 April 2023
Japan's massive debt burden could grow heavier as interest rates rise.
Economy

Japan lags behind U.S., U.K. in curbing pandemic deficits

Rising interest rates pose risk for Tokyo as it struggles to scale back stimulus

29 March 2023
Switzerland's financial regulator wiped out the value of Credit Suisse's AT1 bonds when brokering a rescue by fellow Swiss Bank UBS.
Bonds

Japan banks' AT1 yields steady week after Credit Suisse rescue

Instruments shielded by regulatory framework built after 1990s banking woes

28 March 2023
Standard Chartered has seven AT1 bonds outstanding with an aggregate value of around $7.5 billion as of the end of last year. (Photo by Kenji Kawase)
Finance

Standard Chartered CEO skeptical of Credit Suisse AT1 bond wipeout

Bill Winters says 3 failed banks 'would appear to have been solvent'

25 March 2023
The Bank of Japan has been trying to discourage short selling of Japanese government bonds.
Bonds

Japanese bond purchase by overseas investors hits weekly record

BOJ efforts to curb short selling help push yield to 3-month low

25 March 2023
Chinese bond traders were baffled when three major data suppliers -- Qeubee, Wind and Dealing Matrix -- abruptly stopped providing price quotes.
Caixin

Why China's bond traders got cut off from the data they needed

Regulators told money brokers to stop providing services outside their licenses

23 March 2023
Swiss authorities orchestrated the historic weekend deal to merge Credit Suisse with UBS.
Finance

AT1 bonds and Credit Suisse: 4 things to know

$17bn write-off comes under scrutiny as part of UBS deal

21 March 2023