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Japan is buying MASSIVE Amounts of Junk Credit
Japanese banks have been bulking up on US junk corporate credit for the last year, driven entirely by an increasingly difficult reach for yield. That means overlooking dangers and risks which in other less distorted times would have been taken more seriously. The end result is a large and growing distortion in a key part of the credit markets.
Eurodollar University's Money & Macro Analysis
Bank of Japan Financial System Report October 2019
https://www.boj.or.jp/en/research/brp/fsr/data/fsr191024a.pdf
VanEck Looking Beyond AAA Rated CLOs Pays Off…
The skinny
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