Market Watch - Japan

This Japanese Megabank Really Needs a Home Run

Mizuho Financial Group Inc. last week reported about 150 billion yen ($1.35 billion) of valuation losses on its foreign-bonds portfolio, while Mitsubishi UFJ Financial Group Inc.’s foray into U.S. high-yield debt underwriting went awry. Less than two months ago, Nomura Holdings Inc. took an impairment charge of almost $750 million for its overseas investment-banking business. Meanwhile, the government is worried that banks’ love affair with U.S. collateralized loan obligations could blow up. – Bloomberg



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