Investors are concerned about a rebound in share prices. But if the coupon was set at 1.6%, the new bonds will attract. |
Today's CPI data are increasing the chance of a policy change next week, but I still don't believe it 100% because of expected share price falls next week ahead of SQ March 10 ('special quotation' settlement of Nikkei futures, options for March). |
While bond buying by pension funds and life insurance firms was expected, the market didn't see it. |