Morgan Stanley’s Tokyo-based credit strategist Takashi Miura will leave the bank, according to two people familiar with the matter.
Miura, an executive director who covers Japan’s credit markets including corporate bonds and credit-default swaps at Morgan Stanley MUFG Securities Co., resigned earlier this month and will leave the firm later this year, said the people who asked not to be identified as the details are private.
The growth of Japan’s corporate bond market has stalled as the economy shrank in the second and third quarters of last year. Morgan Stanley ranked Japan credit as “the least attractive global credit market” in a note to clients last month. The report, titled “2013 Credit Outlook,” pointed out tight spreads, mixed balance sheet quality and a forecast for a “meaningful” rise in the government bond yields.
Miura, who joined the bank in May from Goldman Sachs Group Inc., wasn’t available to comment when Bloomberg News called him at his office. Mika Watanabe, a Tokyo-based spokeswoman at Morgan Stanley, declined to comment.