Boyd Stone
April 2, 2003, 07:50 AM
Hi,
From yesterday's (4/1) Japanese market commentary:
[quote]
Mizuho Financial Group, the world's largest bank by assets, tumbled 8.76 percent to 81,200 yen, having earlier hit a record low of 80,600 yen. Second-ranked Sumitomo Mitsui Financial Group Inc (Tokyo:8316.T - News), which also hit a lifetime low at 186,000, was down 4.98 percent at 191,000 yen.
In addition to selling by foreign hedge funds, traders said corporations were shedding bank stocks to cut their losses on the sector as unrealised losses balloon.
"Banks aren't really restructuring, the economy doesn't look like it will improve, and bad loans appear set to increase. Investors are guessing that bank stocks may fall even more," said Yukiko Ohara, bank analyst at Credit Suisse First Boston.
[unquote]
Also, may I ask a question? In a worst-case scenario, like bank runs, what would happen to 10-year Treasury Notes?
Thanks in advance,
- Boyd
From yesterday's (4/1) Japanese market commentary:
[quote]
Mizuho Financial Group, the world's largest bank by assets, tumbled 8.76 percent to 81,200 yen, having earlier hit a record low of 80,600 yen. Second-ranked Sumitomo Mitsui Financial Group Inc (Tokyo:8316.T - News), which also hit a lifetime low at 186,000, was down 4.98 percent at 191,000 yen.
In addition to selling by foreign hedge funds, traders said corporations were shedding bank stocks to cut their losses on the sector as unrealised losses balloon.
"Banks aren't really restructuring, the economy doesn't look like it will improve, and bad loans appear set to increase. Investors are guessing that bank stocks may fall even more," said Yukiko Ohara, bank analyst at Credit Suisse First Boston.
[unquote]
Also, may I ask a question? In a worst-case scenario, like bank runs, what would happen to 10-year Treasury Notes?
Thanks in advance,
- Boyd
