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	Podcast:		Eurodollar University
	Episode:		Japan is buying MASSIVE Amounts of Junk Credit
	Category:		Business
	Duration:		00:20:01
	Publish Date:		2024-06-25 11:00:00
	Description:		Japanese banks have been bulking up on US junk corporate credit for the last year, driven entirely by an increasingly difficult reach for yield. That means overlooking dangers and risks which in other less distorted times would have been taken more seriously. The end result is a large and growing distortion in a key part of the credit markets. Eurodollar University's Money & Macro Analysis Bank of Japan Financial System Report October 2019 https://www.boj.or.jp/en/research/brp/fsr/data/fsr191024a.pdf VanEck Looking Beyond AAA Rated CLOs Pays Off https://www.vaneck.com/us/en/blogs/income-investing/looking-beyond-aaa-rated-clos-pays-off/ Deutsche Bank What impact is 'higher for longer' having on the CLO market in 2024 https://flow.db.com/trust-and-agency-services/what-impact-is-higher-for-longer-having-on-the-clo-market-in-2024 Bloomberg A $1.3 Trillion Fund Pool for Junk-Rated US Firms Has Unlikely Lifeline: Japan's Banks https://www.bloomberg.com/news/articles/2023-04-20/the-1-3-trillion-clo-market-grows-more-dependent-on-japan-banks https://www.eurodollar.university Twitter: https://twitter.com/JeffSnider_EDU Eurodollar University's Anniversary Webinar: The Fundamentals of Interest Rates over the Next 12 months. Sign up below: https://event.webinarjam.com/channel/rates
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