Japan Short-Term Fund Rates Jump as Virus Hurts Company Mood
- Commercial paper rates jump to 0.23% from 0.02% in March
- Japan corporate confidence dropped to lowest since 2013
This article is for subscribers only.
Credit market rates are showing that the global rush for cash is intensifying in Japan as well.
In a sign that Japanese companies are stockpiling cash due to deep worries about the impact of the coronavirus pandemic, short-term funding costs are surging. The rate to borrow with three-month commercial paper has jumped to 0.23%, the highest in at least two years, according to Japan Securities Depository Center Inc. data.