Japan junk bonds in favour as govt reforms doubted

Newswire

By Chikafumi Hodo TOKYO, Feb 21 (Reuters) - Japanese junk bonds are enjoying a rare moment in the sun as investors grow confident that the government will not allow a major firm to go under, despite its pledge to clean up the nation's huge bad debt mess. The trend raises further doubts over the government's commitment to a "hard landing" for thousands of indebted firms, but is providing investors with an opportunity for attractive returns with less need to worry about a default. ...

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