Yen grows in stature among SSA borrowers

With global interest rates as they are, SSAs are finding it difficult to justify raising funds in vanilla yen, impeded by the basis swap back to their core currencies. But there is innovation and demand in the Uridashi markets, and highly rated borrowers find their issues in higher yielding currencies enormously popular with Japanese investors. Meanwhile, sovereigns still find good value and popularity in the Samurai markets.