Nomura’s Willcox Says Hedge Funds Are Hunting for Japan Traders
- Yields on 10-year JGBs are likely to surpass 1%, Willcox says
- Nomura has “strong and powerful” foothold in yen rates trading
Christopher Willcox
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Japan’s government bond yields are likely to rise to the highest in more than a decade, according to the head of Nomura Holdings Inc. trading unit, making the $7-trillion market “more interesting” and fueling competition with hedge funds seeking to hire traders.
The nation’s benchmark 10-year yield “can possibly get to exceed 1% at some point” because inflation will likely remain elevated, said Christopher Willcox, head of Nomura’s trading and investment banking, in an interview with Bloomberg TV. Anywhere above that level would mark the highest since 2012, and the yield has been climbing this year.