The samurai bond market

Packer, Frank; Reynolds, Elizabeth

Journal Article

The samurai bond market

Abstract: Issuance in the samurai bond market has more than tripled over the past several years. Some observers have attributed this growth to a systematic underestimation of credit risk in the market. A detailed review of credit quality, ratings differences, and initial issue pricing in the samurai bond market, however, turns up little evidence to support this concern.

Keywords: Bonds; Japan;