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Emerging MarketsEM Asia

Samurai market suffers but innovates, too

The Samurai bond market has taken a big hit over the last three months, as supply has dwindled in response to an expensive dollar-yen basis swap and issuers have chosen instead to fund elsewhere. But although bankers looking back at the last fiscal year are likely to bemoan the tepid volumes, they can take some solace in one clear innovation the market has made. Matthew Thomas reports.

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