Japanese cat bonds dive following earthquake
Pricing on Japanese-exposed cat bonds has dived following Friday's (11 March) devastating earthquake and tsunami, although confusion still reigns over which bonds may face actual losses.
No trading has taken place in the secondary market as investors await news on whether any bonds have been triggered by the magnitude 8.9 event that hit the north-east of the country last week, our sister title Trading Risk has learned.
But pricing sheets issued by market makers show that pricing was down across...
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