A shrinking JGB market strains ties between its three main players
Bank of Tokyo-Mitsubishi UFJ quit its role as a primary dealer of Japanese government bonds in mid-July.
TOKYO The decision by Bank of Tokyo-Mitsubishi UFJ to quit its role as a primary dealer of Japanese government bonds stemmed from the lender's fears over a possible spike in interest rates.
The Mitsubishi UFJ Financial Group unit ran simulations gauging how fluctuating yields would affect its capital base. The results were not pretty.
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