Last bounce for Kangaroos
Syndicate bankers are expecting Kangaroo issuance to wane as the Japanese market shuts down this weekend for an extended holiday and Australia’s inflation outlook worsens.
“The Golden Week holiday starts in Japan on Friday, and we are expecting the long end of the Kangaroo market to remain quiet until they return,” said a syndicate banker. “If these Japanese investors are not around, there is next to no Kangaroo market.”
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