Mizuho Cuts Risk in Bond Portfolio, Awaiting BOJ, Fed Shifts
- Lender sees monetary policy moves coming in US, Japan
- Mizuho said in 2019 it rebuilt portfolio after bond losses
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Mizuho Financial Group Inc. is ditching illiquid assets and shortening the average maturity of its Japanese and other sovereign bond holdings so it’s positioned to deploy money after expected policy changes over the next 12 months.
Japan’s third-biggest bank is “curling up” with its investments, Kenya Koshimizu, co-head of Mizuho’s global markets company, said in an interview. He expects central bank actions in the US and Japan to spark big market moves, and wants to be prepared.