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Emerging MarketsEM Asia

Keep one eye on the swap

Samurai bond issuance is one of the most obvious and oft-explored ways of foreign issuers diversifying their funding sources. Renewed confidence in the Japanese economy — and the razor-thin local spreads that investors are hoping to do better than — should help keep up a steady supply this year, bankers claim. But they admit that much depends on the movement of the basis swap. Matthew Thomas reports.

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