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Norinchukin: Taking The Rate Hits, Moving To Credit

FINANCIALS

Norinchukin Bank (NORBK: A1/A) story overnight about rate-related losses coming in much larger than expected. Not in €IG index but reportedly selling as much as USD63bn in US and EUR sovereign bonds and shifting much of this into credit assets, alongside equity and project finance assets.


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Norinchukin Bank (NORBK: A1/A) story overnight about rate-related losses coming in much larger than expected. Not in €IG index but reportedly selling as much as USD63bn in US and EUR sovereign bonds and shifting much of this into credit assets, alongside equity and project finance assets.


Keep reading...Show less