Takahiro Okamoto is an analyst for IFR Markets, IFR’s real-time market commentary service, and reporter for International Financing Review based in Tokyo. Takahiro has worked for Thomson Reuters since 2000 initially covering the Japanese money market, then yen interest rate swaps, swaptions, and JGBs. From 2011 to 2016, he contributed yen swap commentary on a daily basis to DealWatch, Thomson Reuters’ Japanese language publication, and Reuters News. In 2016, he started covering the international yen debt capital market including Samurai.
US insurer Aflac last week paid its second visit of the year to the yen market, this time for an offering of hybrid Global yen bonds – a first from a foreign life insurer.
Japan’s Samurai bond market has shrunk by ¥490bn (US$4.3bn) so far this year as overseas issuers have turned to other markets for refinancing.
Banque Federative du Credit Mutuel sold ¥127.1bn (US$1.13bn) of Samurai bonds last week, its largest issue since its market debut in July 2011.