Bear Stearns recently structured a capital guaranteed note in Japan, which at some USD500 million has gotten equity professionals talking about the economy picking up. "This is another indication that the business is coming back," said Kin Sang Cheung, head of equity derivatives trading at Bear Stearns in Tokyo.
The note was linked to an Asian index and offered in several currencies, according to Cheung, who declined to elaborate further.
"We expect to see even more customer flows coming into the markets," added Cheung, noting that client interest started increasing this summer in Japan on the back of the rally in the Nikkei 225.
