William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."
Like Silicon Valley Bank, many Japanese lenders have piled into bonds

Incoming BOJ Gov. Kazuo Ueda during a Diet hearing on Feb. 24: He can forget tapering the balance sheet when he arrives on the job next month. © Reuters
William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."