Journal Article

Credit risk in Japan's corporate bond market


Abstract: From the fall of 1997 to the spring of 1999, yield spreads in Japan's corporate bond market increased sharply. An analysis of this rapid rise suggests that Japanese investors in corporate bonds may be paying closer attention to the credit risk of individual issuers. Such a shift in investor focus would represent a major change in the structure of this market.

Keywords: Credit; Corporate bonds; Risk; Japan;

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Provider: Federal Reserve Bank of New York

Part of Series: Current Issues in Economics and Finance

Volume: 5

Issue: Nov

Order Number: 15