One Bank’s Trash Becomes Mizuho’s Treasure in U.S. Debt Markets
The U.S. looks very attractive from Japan
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Ever-shrinking yields around the world have left the U.S. looking like a gold mine to Japanese banks.
Mizuho Financial Group Inc., for example, is rapidly expanding its American credit business. The Tokyo-based bank has nearly doubled its company-debt originations team since April, according to Jerry Rizzieri, Mizuho Securities USA Inc.’s head of fixed income. It’s also added a collateralized loan obligation group within the past year.