U.S. Note Buyers Bet Japan to Revive on Stimulus
Banks sold the most U.S. structured notes tied to Japanese stocks for any January since at least 2010 after unprecedented central bank stimulus contributed to soaring indexes and the yen’s slide against the dollar.
Issuance of securities linked to indexes or funds of Japanese companies has totaled $64.6 million so far this month, almost four times as much as in all of January last year, according to data compiled by Bloomberg. The securities were tied to the Topix index, the Nikkei 225 Stock Average or the WisdomTree Japan Hedged Equity Fund.
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